Go long 3-mth US dollar, Indian Rupee on twin deficits: Nomura
* The central bank's cautious stance on future rate cuts and the pullout of a key ally from the ruling coalition also likely to dampen market sentiment, Nomura adds.
* The investment bank says potential for further positive reform announcements and measures in the current parliamentary session ending on March 22 is low.
* Nomura also sees a risk of a further slowdown in net foreign portfolio inflows in the near-term.
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