Range: 71.72 – 72.50
Our Preference: Buy USDINR Target 72.40 with risk of 71.50
Alternative Scenario: Sell only below 71.50 & sustain for 1 day close & 2nd open for target 70.90 with risk of 71.76
Fundamentals: High tension between US & IRAN will cause to High Crude oil prices higher. If the same tension will sustain will be more difficult & USDINR will get more weaker.
In a more longer Term scenario can touch more upside 74 Rs again.