''The rupee gained on Tuesday after a volatile trading session as dollar selling by custodian banks and a large corporate helped offset importer demand for the greenback. The Indian currency ended the day at 61.87, up 0.11% from its previous close of 61.94. The dollar index against six major currencies closed at 87.896 down 0.29% from its previous close of 88.16,'' said ICICIdirect in its report.

ICICIdirect expects the US dollar to garner buying support on declines against the rupee. Utilise declines in the USD/INR December contract to buy. ''Buy USD/INR November futures in the range of 61.96-62.06 with target 62.25-62.40.''

''In the currency futures market, the most traded dollar-rupee November contract on the NSE closed at 61.87. The November contract open interest was down 25.70% from the previous day.''

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