Weakness seen for June series - immediate resistance 16515

RBI policy day, volatility is high. However, challenging macros and external environment along with high oil prices can drive USDINR higher. Key levels to watch 77.40 on the down and 77.80 and 78.00 on spot on the upside.

Nifty 16,340 an important level; Auto and Technology stocks in focus

Nifty 16,340 would be an crucial level to watch out today. The strategy should be to trade short below 16,340 level with a stop loss at 16,450, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the auto, technology and financial space.

Nifty 16,340 will be a crucial level to watch out for

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

Nifty 16,500 a key resistance level; Technology and Auto stocks in focus

Nifty 16,500 will act as a major resistance level. The strategy should be to to reduce weak long positions below 16,430, 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 and auto space.

Nifty 16,500 a key resistance level

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

USDINR may see some more upside due to a cocktail of dollar positive factors: higher oil, higher US bond yields, lower equities and weaker EM currencies. In crosses, we remain bearish on JPYINR as US bond yields surge

Nifty 16,400 a key support level; Technology and Financial stocks in focus

Nifty 16,400 will act as a major support level. Nifty 16,600 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, financial and auto space.

Nifty 16,400 a major support level

Nifty 16,600 a key resistance level

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

USDINR may continue to be rangebound but with an upward drift. Rising oil prices, FPI outflows in equity/debt and stronger US Dollar post US jobs report are all supportive for a move higher in USDINR. In crosses, focus will be EURINR as ECB meeting is on Thursday

Weekly outlook: United Spirits Among Top Picks, FPI Flows To Remain Volatile

Highlights of 6 June ’22 Fundamental Weekly Podcast

- Domestic markets have remained erratic in the past week with Sensex ginning 2.24% and Nifty50 gaining 1.95%.

- On the economy front, (1) Q4FY22 real GDP growth slowed to 4.1% (Q3FY22: 5.4%).

- The RBI has projected Q1FY23 inflation at 6.3% which is clearly now subject to modification in the upcoming June MPC meet.

- Major central banks, including the Fed, signals cumulative rate hikes of about 2%-2.5%.

- In US, investors will be looking ahead to the release of U.S. jobs data for May expected today.

- FII flows continue to remain net sellers in the month of June till date to the tune of Rs. 2,382 crore. FPI flows to remain volatile in the emerging markets.

- Weekly pick: United Spirits - The company reported 5%/9% year-on-year (YoY) growth in volume/value (3 year CAGR -0.6%/+3%), in line with expectations.

- Other picks: Jubilant Foodworks - The company has selected Sameer Khetarpal from Amazon India (ex-McKinsey) to be the next MD & CEO, starting Sep 2022.

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

Nifty 16,700 will act as a major support level. Nifty 16,800 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 and financial space.

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

USDINR is expected to test the lower band of its very narrow range. It has been over 3 weeks, USDINR has been caught in such a narrow range. Range expansion is expected. Global cues are positive with rally in equities and sell off in the USD against major EM currencies.