Utilise upsides in the pair to go short in USD-INR, says ICICIdirect.
The Indian rupee opened higher by 12 paise at 65.03 per dollar on Thursday versus previous close 65.15.
According to ICICIdirect, the near-month dollar-rupee April contract on the NSE was at 65.33. The April contract open interest declined 5.99% from the previous day.
We expect USD-INR to meet supply resistance at higher levels. Utilise upsides in the pair to go short in USD-INR.
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