Utilise downsides in the USD-INR to initiate long positions, says ICICIdirect.
The Indian rupee opened flat at 68.82 per dollar on Wednesday versus previous close 68.83.
The dollar-rupee July contract on the NSE was at 68.98 in the previous session. July contract open interest declined 1.31% in the previous day, said ICICIdirect.We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.