Pre Market - Snapshot - 14-07-2021




 

US stocks retreat from record levels after consumer price inflation surged the most in June since 2008 and also the Q2 numbers that kicked in were mixed. US triplets saw cuts between 0.31% to 0.38%. The small cap Russell 2000 saw a deeper cut of almost 1.88% 


US dollar index and 10 year moved higher on inflation data, $ index moved to 92.70, 10 year just below 1.42%. Cboe Vix closed above 17. 


Crude futures also traded higher, WTI above 75, Brent above 76. 


Indian stocks snapped a 3 day losing streak on back of gains in heavyweights like RIL, ICICI and HDFC twins. Indices closed higher by almost 0.75%. Small cap stocks outperformed with index closing at record highs. 


For the day watch for some volatility on mixed cues from global markets. Once again stocks may see rotational moves till Nifty takes out double top near 15915. The stock specific action that is news / Q1 results driven may continue to offer better returns for quick traders till the range breakout comes through.

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