Pre Market - Snapshot - 06-07-2021


 

US markets were closed on Monday for observation of Independence day. 


US dollar index traded lower near 92.25, 10 year rose a bit to 1.44%.


Crude futures rose to fresh 3 year highs as OPEC plus deferred the meet for lack of consensus. WTI moved above 76, Brent above 77. 


Indian stocks gained for the second day building up on the gains made on Friday. Indices gained in excess of 0.70% . Banks, Metal and Realty stocks gained the most along with major gains in mid and small cap stocks.


For the day watch for sustainability of gains and possibility of Nifty reaching out to the top end of the trading range near 15900. Wait for a confirmation of a break above 15900 to add to positions for near term momentum. Meanwhile individual names may continue to offer decent trading opportunities for traders to trade. Also Q1 results season that kicks in later this week may also offer quick trading opportunity till the range breakout comes through.


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