Pre Market - Snapshot - 01-07-2021


 

US stocks closed the quarter with strong gains. On the last trading day of the quarter Dow gained in excess of 200 points, S&P closed at fresh record highs. Nasdaq closed marginally weak in a rotational trade. The small cap Russell 2000 also moved higher. Economy facing names like Boeing, Walmart and Goldman Sachs lead bulk of gains at Wall Street. 


US dollar index moved higher near 92.40, 10 year closed marginally down below 1.47, Cboe Vix closed below 16. 


Crude futures traded flat, Brent below 75, WTI near 73.50.


Indian stocks once again traded choppy, after opening strong taking cues from global markets stocks gave up a large part of the gains to trade in and out of flat line. Weakness in Banks, Oil and Gas stocks offset strength in IT and Consumer stocks. The fears of new Delta variant of Covid-19 overpowered the good news on current Covid-19 data and probable ease of restrictions.


For the day watch for economic data like auto sales and PMI numbers along with weekly options expiry related moves. Watch for Nifty range breakout of 15500-16000 on either side for end of consolidation and medium term trend move in one direction, preferably upside, next week.

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