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Technical Observations:

* After three sessions of rise, USDINR remained muted during yesterday’s session.

* The pair is trading in the ascending triangle on the daily chart

* Breakout from the pattern will be confirmed once it surpasses the 83.10 resistance At present,

* it seems that pair has reached near crucial resistance, which can trigger profit booking in longs

* Traders should avoid long position in today’s trading session.

* Existing longs should be squared off in today’s trade

* Highest OI in Calls stands at 83 strike price, therefore it is expected to act as a strong resistance

* Breakout above 83.10, could pull the pair towards new all time hig

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