USDINR can once again move higher due to the triple whammy of crude, yields and US Dollar Index.

Nifty 17,000 a key support level; Technology and Metal stocks in focus

Nifty 17,000 will act as a major support level. Nifty 17,600 will be resistance level, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the technology, metal and auto space.

Nifty 17,000 a major support level

Nifty 17,600 a key resistance level

Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the technology, metal and auto space.

USDINR could be in for a rangebound price action this week due to mixed cues of high oil

Prices but strong equity and positive seasonality for Rupee.

Weekly outlook: Minda Industries Among Top Picks, FPI Flows Likely to Remain Volatile*

Highlights of 21 March ’22 Fundamental weekly podcast*

- Domestic markets jumped in the past week with Nifty and Sensex gaining around 4.4% and 4.5%, respectively.

- The Federal Reserve hiked benchmark interest rate by a quarter of percentage point for the first time since 2018.

- The policymaking Federal Open Market Committee (FOMC) also pencilled in 6 more rate hikes in 2022, as well as factored in a reduction in its US$ 9 trillion balance sheet.

- FIIs flows in the month of March 2022 were negative to the tune of Rs 44,417 crore. We believe FIIs flow in India will remain volatile in the short term on the back of multiple headwinds like Inflation, monetary tightening, elevated crude oil prices, geo-political issues, etc.

- On the other hand, India is still the fastest-growing economy due to domestic demand resilience.- Weekly pick: Minda Industries

- We expect Minda Industries to continue to outperform the industry growth on the back of: (1) increase in premiumization and import substitution, (2) strong order wins in EV (electric vehicle) 2W (two wheeler) segment and (3) market share gain in lighting, seating and alloy wheels.- Sector update: Healthcare- Within healthcare services, at current valuations, we prefer hospitals over diagnostics. APHS is our top pick in the healthcare services space.

Join Sahaj Agrawal in this Weekly Expiry update to get key insights.

Resistance seen at 17000; short covering above the same

Disclaimer: https://bit.ly/longdisc

Join Shrikant Chouhan, Research Head, Kotak Securities, as he takes us through the Trade Talk Podcast.

Nifty 17,100 will act as a major support level. Nifty 17,300 will be resistance level, says Shrikant Chouhan in our daily Trade Talk podcast.

Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the technology, financial and auto space.

Disc: http://bit.ly/longdisc

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

Post US Fed there has been weakness in US dollar index and oil prices are below 100. Both these factors can drive USDINR lower. Key support level 76 on spot.

Disc: http://bit.ly/longdisc

Join Shrikant Chouhan, Research Head, Kotak Securities, as he takes us through the Trade Talk Podcast.

Nifty 16,600 would be an important level to watch out today. Nifty 17,000 will be resistance level, says Shrikant Chouhan in our daily Trade Talk podcast.

Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the financials, technology and auto space.

Disc: http://bit.ly/longdisc

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

USDINR looks to be range-bound between 76 and 77.

Hence focus on range selling strategies using USDINR options. Disc: http://bit.ly/longdisc

- Commodity markets likely continue to be driven by geopolitical tensions in the near future.

- Gold is likely to remain volatile, however, buying interest may emerge at lower levels.

- On the technical front, Gold is trading below its initial support of USD 1,960. Next support exists at USD 1,914-1,912.

- After a sharp fall in last few sessions, precious metals are likely to take support at lower levels.

- Crude oil has corrected nearly 20% from its high. It is likely to find support at lower levels if no resolution is seen between the Russia-Ukraine conflict.

- Natural gas continues to trade in the range with resistance near 370 level and support at 338 level.

- Metals continue to trade with caution.

- The focus during the week will be on the Federal Open Market Committee (FOMC) meeting with all eyes on Fed’s future guidance.