ICICI Direct, Due to huge volatility in the Dollar index and US yields, similar actions were seen in the rupee.
March 04, 2021 / 08:31 AM IST
Spot Currency
Due to huge volatility in the Dollar index and US yields, similar actions were seen in the rupee. However, we feel the rupee has moved towards its major support and bounce could be seen from 73 levels • The dollar-rupee March contract on the NSE was at Rs 73.13 in the last session. The open interest increased by 5% in the March series and 14% in the April series.
Currency futures on NSE
Due to huge volatility in the Dollar index and US yields, similar actions were seen in the rupee. However, we feel the rupee has moved towards its major support and bounce could be seen from 73 levels • The dollar-rupee March contract on the NSE was at Rs 73.13 in the last session. The open interest increased by 5% in the March series and 14% in the April series.
Intra-day strategy
| US$ INR Mar futures contract (NSE) | View: Bullish on US$ INR |
| Buy US$ INR in the range of 73.00-73.04 | Market Lot: US$ 1000 |
| Target: 73.20/ 73.40 | Stop Loss: 72.90 |
| Support: 72.70/72.90 | Resistance: 73.50/73.90 |
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