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Views On Morning Nifty and Derivative comments 21 August 2023 by Anand James - Chief Market Strategist at Geojit Financial Services

Nifty outlook: 

The downside trajectory that we have been playing for during the last week, found several reversal attempts from the 19300 vicinity. This appears weak though, and would require a pull back above 19346-377 region for gaining momentum. That said, the prospects of an outright collapse look limited though, given subdued rise in VIX, but slow slippages to 19258 or 19060-18900 initially is to be expected before gaining speed towards to 18600-18300. - Read more

USD-INR Outlook:

Couple of days’ consolidation failing to breach the 83-82.9 supports, USDINR appears to be well poised for strong upside breakout. Towards this end, 83.7 to 84.5 may be aimed for with downside marker placed at 82.9. - Read more

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