Utilise upsides in the pair to initiate short positions, says ICICIdirect.
The Indian rupee opened higher by 30 paise at 71.71 per dollar on Thursday versus previous close 72.01.
The dollar-rupee December contract on the NSE was at 72.11 in the previous session. December contract open interest increased 4.31% in the previous session, said ICICIdirect.
We expect the USD-INR to meet resistance at higher levels. Utilise upsides in the pair to initiate short positions, it added.
