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Technical Observations:

USDINR Dec future formed a gravestone doji candlestick pattern, which implies a bearishness. However, the pair is steady above the short-term moving average of 10 days.

Momentum Oscillator, RSI of 14 days period is almost flat and is placed above 50 on the daily chart.

MACD has been placed above a zero linewith a flattish note.

Long unwinding has been seen as price and open interestfell.

Short Term Trend: Neutral/sideways Expected Trading Range: 83.30 to 83.50

Intraday Recommendation: Sell USDINR Dec. Fut. at 83.45/83.48 SL 83.53 Target 83.32

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