CLSA ON PRICE ACTION ; Initial resistance is at 23,070, followed by the 50DMA/200DMA confluence at 23,654–24,183.

• Price action has formed the outline of a double bottom around the July/October relative lows. • These levels also coincide with additional support from the 2020 relative lows. • CLSA says India is beginning to form a relative base versus the broader EM benchmark.

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