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Technical Observations:

* USDINR March futures took support at a lower line of the downward-slopping channel.

* The pair is closed above 10 DEMA after touching 21 DEMA.

Though, it has recovered in the past three days, the medium-term trend remained bearish.

Momentum Oscillator, RSI of 14 days indicated a short-term bounce as it has been heading higher.

Minor long buildup has been seen as the price and open interest gained.

Short Term Trend: Short Covering

Expected Trading Range: 83.05 to 82.70

Intraday Recommendation: Buy USDINR Mar. Fut. at 82.80 SL 82.70 Target 82.94

USDINR March Futures Daily Chart

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SEBI Registration number is INZ000171337

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SEBI Registration number is INZ000171337