Pre Market - Snapshot - 08/07/2021


 

US stocks ended higher in a choppy trade, both Nasdsq and S&P ended at record close. Dow also closed with triple digit gains, small cap Russell 2000 ended with a cut of  close to 0.95%. 


US dollar index moved higher to 92.70, 10 year dropped to 1.31% post Fed minutes that showed split views on roll back. Cboe vix traded down near 16. 


Crude futures continued to trade down, Brent near 73, WTI below 72. 


Indian indices rose towards close on the back of strong gains in Metal, Banks and Realty. Auto and oil and gas names ended down on sector specific news. Mid and small cap index also saw some gains with many popular names recording fresh highs.


For the day watch for weekly options expiry and start of Q1 reporting season. Market may see major short covering if Nifty takes out double top of 15915 and may inch near 16000. Continue to maintain stop loss near 15750 for immediate term and 15500 for medium term positioning. Also rotate sectors in case of one or two days trading views.

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