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Buy USDINR; target of: 75.00 - 75.20: ICICI Direct

ICICI Direct, The rupee witnessed a further recovery and managed to gain almost 29 paise in the last session to close near 74.72 levels against the US dollar.

April 27, 2021 / 08:36 AM IST

ICICI Direct's currency report on USDINR

Spot Currency

The rupee witnessed a further recovery and managed to gain almost 29 paise in the last session to close near 74.72 levels against the US dollar • The dollar rose from an eight-week low against major currencies on Monday, with investors consolidating positions ahead of the Federal Reserve's monetary policy meeting this week.

Currency futures on NSE

US$INR Apr futures contract (NSE)View: Bullish on US$INR
Buy US$INR in the range of 74.60-74.64Market Lot: US$1000
Target: 75.00/ 75.20Stop Loss: 74.40
Support: 74.60/74.40Resistance: 75.00/75.30