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*Acmiil Positional Call*: Buy *RKFORGE* at Rs. 1000-1010 add more if 970-980 comes Stop loss 930 on closing basis, Target 1080-1155

*USD/INR Spot* {Spot Ref: 83. 50 Expected Opening} *News/Data*: The Federal Reserve’s recent rate cut has provided emerging market (EM) central banks with the opportunity to lower rates, allowing them to shield their economies from the recessionary pressures emanating from G-7 nations. This move eases global financial conditions, giving EM economies more breathing room to stimulate growth. The Reserve Bank of India (RBI), which is set to meet next month, is likely to benefit from these developments, especially pressure on the FX front [The USD/INR flat curve is also bending down - See Chart Below]. While an immediate rate cut from the RBI is unlikely, the Fed's actions could prompt a shift in India's monetary policy, signaling a transition away from its "higher for longer" rate stance. This would open the door for more accommodative policies in the near future, positioning India to better manage the growth leg of the central bank mandate. *Price Action & Technicals*: For the USD/INR, the Long Term Objective was a move into the 83.90/84.10 areas [Note: we are seeing substantial Resistance around these levels]. For the Medium-Term/Short-Term, the pair was broadly tucked into a Range between 83.40 and 84.00 levels and as discussed last week we are seeing a Swing possible to the Lower side of the Range. *Intraday*: Outlook is “Sideways to Down”. Support Intraday is at 83.40/38 {Intraday Buying Areas}. Resistance is at the 83.65 {Intraday Selling Areas} levels. [Note: Substantial intervention by the RBI can keep the pair even in a thinner Range post Opening as was the case the last few days/weeks]

*Market Updates:* Asian Markets :Mixed, *Nifty Trading Levels Pivot:* 25689 , S1 - 25529 , S2 - 25266 , S3 - 25106 , R1 - 25951 , R2 - 26112 , R3 - 26374 *Bank Nifty Trading Levels: Pivot :* 53632 , S1 - 53199 , S2 - 52604 , S3 - 52170 , R1 - 54227 , R2 - 54661 , R3 - 55256 *Gift Nifty Trading* : Positive (+200.00), Market is expected to Open: Positive *Securities in Ban* For Trade Date 23-SEP-2024: AARTIIND BIOCON CHAMBLFERT GNFC GRANULES LICHSGFIN NATIONALUM OFSS PNB RBLBANK SAIL

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*Acmiil Positional Call*: Square off *TITAGARH* at Rs.1270-1280 Buy call given at Rs.1330-1370

*Acmiil Positional Call*: Buy *DATAPATTNS* at Rs. 2630-2660 Stop loss 2470 on closing basis, Target 2950-3150