Pre Market- Snapshot- 30-06-2021


 

US markets edged higher on conference board's consumer confident index that reported higher than anticipated rise. Both Nasdaq and S&P 500 closed moderately higher above flat line into fresh record zone. Dow also crossed flat line with small gains. The small cap Russell 2000 closed just below the previous close. 


US dollar index moved higher above 92.05 level, Cboe Vix closed above 16, 10 year traded flat near 1.48%. 


Crude futures moved up a day prior to OPEC+ meet on raising output to meet rising demand. WTI moved above 73, Brent above 75.   


Indian stocks fell on Tuesday owing to Asian equity cues and fears of height near 15900-16000 zone. Banks, Autos and Metal names saw some selling pressure, FMCG and Pharma stocks tried to support the market but the selling pressure took markets deeply into red. Mid and small cap stocks also tried to hold the ground and there were pockets of outperformance in names outside the indices.


For the day markets may continue to consolidate below 15900-16000 zone and if Nifty manages to hold 15600-15700 zone for rest of the week, the resistance level may be taken out next week. Watch for individual names for intraday and immediate trading and load positions once Nifty takes out the indicated resistance zone


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