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USDINR faces downside risk due to the long liquidation environment. Global cues are mixed. In cross-currency, Rupee can continue to strengthen against all 3 currencies.

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Nifty 17,400 - 17,500 will be a key consolidation range to watch out for today and one should take contra bets at these levels. On the lower side, Nifty 17,100 will be a key level to watch out for, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks.

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

USDINR may see a slow upward drift due to strength in the US dollar index. But the pace of up move can be slow due to the lack of FPI outflows and rangebound price action in EuroUSD.

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Nifty 17,100 is a key support level, while Nifty 17,600 will be a major resistance level to watch out for today, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select specific stocks.

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

USDINR is expected to move to a fresh all-time high, lead by strong very strong dollar index and weak equity markets. In crosses, all trend pairs are expected to remain under selling pressure.

Get a fundamental perspective on the week with Rini Mehta.

Highlights of 29th August ’22 Fundamental Weekly Podcast

- The Nifty Index declined 0.9% in the past week.

- Sectors such as IT services, metals and oil, gas & consumable fuels were the top losers, while capital good sector witnessed gains.

- At Jackson Hole Symposium, Mr. Powell said that the Fed is going to remain hawkish much longer than people had anticipated.

- Month till date, FIIs have been net buyers to the tune of Rs.18,421 cr mainly on account of improvement in corporate and macro fundamentals.

- FPI flows to remain volatile in the emerging markets on account of rising geo-political risk, rising inflation, tightening of monetary policy by central banks.

-The emergence of a rare, new viral Infection-Tomato Flu- afflicting young children has prompted health authorities in India to issue a health advisory.

- Pick of the week – SIS Ltd. SIS posted an EBITDA margin of 4.5%, which was 40 bps ahead of the estimate with India security business up 2.1% QoQ indicating growth revival

- Other Picks- Mahindra & Mahindra Ltd (M&M): Buy target : Rs 1,450. The co. targets to reach 20-25% of EV mix in its UV portfolio by 2027 and to embark upon a growth journey from consolidation phase along with prudent capital management.

Commodity Market Analysis and Outlook- Metals and Energy- 29th Aug - 2 Sep 2022

- Commodities ended mixed as firmness in the U.S. dollar countered China stimulus measures and supply concerns.

- The U.S. dollar index tested 5-week on hawkish comments from Fed officials.

- Fed Chairman Powell said that the U.S. economy needs tight policy for some time before inflation is under control.

- U.S. 1-year inflation expectations fell to an 8-month low of 4.8% from 5.2% in July.

- Russian gas flows on the Nord Stream 1 pipeline will be suspended for the 3-day period from Aug 31st to Sep 2nd.

- British energy regulator Ofgem lifts gas, electricity price cap by 80% to 3,549 pounds.

- China stepped up its economic stimulus with a further 1 trillion yuan ($146 billion) of measures to bolster growth.

- Key events in coming week includes U.S. non-farm payrolls data, manufacturing PMI from the U.S., Europe and China.

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Nifty 17,450 will be a key support level today, while Nifty 17,760 will be a key resistance level. The strategy should be to reduce long positions between 17,650 - 17,750, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select specific stocks.

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

USDINR may remain rangebound ahead of Powell speech tonight. We expect the narrow range to break next week.

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

Nifty 17,500 will be a key support level for today and Nifty 17,750 will be a key resistance level, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks.