USDINR pair managed to witness bounce from its support and moved above 73 levels. Due to aggressive Open Interest addition in ATM Straddle of 73 we feel the rupee should trade in a range with support now pegged at 72.90 levels.
The dollar-rupee June contract on the NSE was at Rs 73.17 in the last session. The open interest remained almost flat for the June series.
News Source:- MOneycontrol