Feb. 16 at 8:21 AM
$USDINR 🚀 Bulls are riding the IT sector’s pain.
The Nifty IT index is bleeding for the 4th straight session, and FIIs are hitting the "sell" button. With the Rupee hovering near the 90.7 level, all eyes are on the RBI's next move.
Watch these levels:
Support: 90.10 (where the RBI has been aggressive)
Resistance: 91.50 (the 2026 high-water mark)
The Trade: Shifting from discounted Russian oil to US crude is widening the CAD, keeping the pressure on
$INR. Unless high-tech outflows stabilize, the path of least resistance for the pair remains up. 📉🐂 #ForexTrading #Rupee #NiftyIT #TradingView