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Key Highlights

* The USDINR futures after opening at 82.40 levels found support and traded with a positive bias the entire day and ended the session at 82.60 higher by 0.23%. It added around 3.6% as Open Interest or around 1.8 lakh contracts.

* Market participants continue to hold maximum option positions between 82 - 83.00 strikes for the monthly expiry. However, PCR-OI fell to 0.91 vs 0.94 in the previous session.

* The Dollar Index after taking support at around 102.80 levels during the first half of the day, managed to break resistance of 103.10 levels before rallying all the way till 103.50 levels. The immediate resistance lies around 103.80 - 104.00 levels.

* Crude Oil consolidated in a range and ended the day lower by around 1% at $75.8. Previously $77.5 levels acted as a key resistance.

USDINR Outlook

USDINR pair is expected to trade with a positive bias. Key support around 82.35 mark (Spot)

Key Levels (May Fut)

Support: 82.30/82.40

Resistance: 82.80/82.90

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