Pre Market - Snapshot - 09-07-2021


 

US stocks tumbled on Thursday while Treasury yields turned choppy. US triplets suffered their worst daily performance in nearly three weeks as investors moved away from risk. 


US 10 year fell near 1.25% before closing flat near 1.31% on concerns over sustainability of recovery. US dollar index also retreated near 92.25, Cboe Vix moved sharply higher near 19. 


Crude futures recovered from two day sell-off, WTI moved above 73, Brent above 74. 


Indian stocks fell close to 0.90% on global equity cues pre-empting Wall Street fall. Banks, Metals and Pharma sectors lead the fall. Weekly options expiry and fear of heights near 15900 added to the selling pressure. 


For the day watch for support near 15500 for a rebound. For positional trade wait for a clearer breakout beyond the trading range of 15500-15900 before committing money on either side. Meanwhile the Q1 results season may offer some trading opportunity for compulsive traders till the breakout from consolidation unfolds.

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