USDINR
Preceding week USDINR stuck in range at 83.12 - 83.27 levels thanks to Indian Central Bank (RBI) regularly active in short term market, despite volatility spike in oil price as well as dollar index movement.
Geopolitical scenario (Ukraine Vs Russia, Israel Vs Hamas), Oil Price Volatility, Dollar Index strength as well as Chinese Yuan weakness keeping Rupee on edge.
September month Indian Trade data is not so promising because Export fall to $34.7 Billion Vs. 38.5 billion as well as Import drag up to $53.84 billion from $60.10 billion but due to that country Trade balance came to $-19.37 billion Vs. $-21.65 billion.
Indian Foreign Exchange Reserve $584.74 billion from $586.91 billion.
Note: - USDINR weekly chart forming ascending triangle which indicate trend is bullish as far as hold triangle support line on weekly closing basis.
TECHNICAL ANALYSIS (WEEKLY CHART)
Resistance 1: - 83.30 - 83.40
Support 1: - 82.80 - 82.90
Support 2: - 82.50 - 82.60
OPTION MARKET POSITION
EXPIRY DATE | STRIKE PRICE | CALL OPTION OPEN INTEREST | PUT OPTION OPEN INTEREST | IV |
20OCT23 | 83.25 | 3 LACS | 3.2 LACS | 2.2 |
27OCT23 | 83.25 | 2.4 LACS | 2.4 LACS | 2.5 |
27OCT23 | 83.00 | 2.5 LACS | 5.1 LACS | 2.6 |
27OCT23 | 83.50 | 4.1 LACS |
| 2.7 |
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