USDINR May open at fresh all-time highs above 77.07 levels on spot. A strong dollar index, multi-year highs in us bond yields, and weak equity markets should drive USDINR higher.

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

Join Rini Mehta in getting a fundamental perspective for the trading week.

Weekly outlook: United Breweries Among Top Picks, FPI Flows Likely to Remain Volatile

Highlights of 09 May ’22 Fundamental weekly podcast

- Central bank actions kept global and domestic markets under pressure last week. The Sensex and Nifty saw profit booking and were down by around 4%.

- The RBI raised the repo rate by 40 bps to 4.4% and increased the cash reserve ratio (CRR) by 50 bps to 4.5%.

- The Federal Reserve raised the benchmark interest rate by half a percentage point - its biggest hike in two decades.

- Amid rising interest rates, elevated crude oil prices, and high inflation, the markets will likely remain volatile and further stock-specific action can be expected based on Q4 results.

- FIIs flows continue to remain negative in the month of May to the tune of around Rs 12,733 crore so far. 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, geopolitical issues, etc.

- Weekly pick: United Breweries Ltd- We expect UBL to deliver strong volume recovery in FY2023E and full recovery in margins as and when raw material prices eventually ease.

- Other picks: Varun Beverages Ltd - The company is set to exceed our expectations on the back of strong volume growth aided by (1) distribution-led share gains in South/West, (2) stellar growth of Sting, and (3) an unusually hot summer. We revise fair value to Rs 1,275 (from Rs 1,100) and reiterate BUY.

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

Nifty 16,600 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, financial, auto and metal space.

USDINR will be pushed upwards today, by a double whammy of a stronger dollar index and weak equity markets. In crosses, GBP remains the weakest one.

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

Rupee can benefit from rate hike from RBI and risk on mood in global markets. Keep an eye on BOE meeting tonight as it will impact GBP pairs.

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

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

Nifty 16,400 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.

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

Momentum turns weak - resistance at 17135.

Disclaimer: bit.ly/longdisc

USDINR is rangebound ahead of US Fed meeting tonight. Volatility can rise from tomorrow, especially in the rupee crosses.

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

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

Nifty 16,800 would be a crucial level to watch out today. Nifty 17,400 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 and metal space.

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

USDINR to remain rangebound but major event risk eyed with US FED and BOR policy meetings.