1. Nifty remains 70-100 points away from the first conservative target at 8470/80 spot levels. One can look to book profits on short positions taken earlier at these levels. Immediate support is at 8475 spot. Sell intraday rallies for now.
2. The USDINR remains unchanged from what was discussed yesterday. The pair should remain well supported at 62.00 spot levels if prices manage to reach there. Details below: