Pre Market - Snapshot - 23-07-2021


 

US stocks turned listless post strong back to back rally for two days. The traders were digesting an unexpected rise in jobless claims. US triplets saw gains from 0.07% to 0 36%. Small cap Russell 2000 underperformed with a cut of near 1.55%. 


US dollar index traded flat near 92.80, Cboe Vix closed marginally lower below 18, 10 year also traded unchanged near 1.28%. 


Crude futures continued to move higher, WTI moved near 72, Brent near 74. 


Indian stocks staged a strong rebound from two days of selling lead by gains in IT, Metal, Realty names. Both the benchmarks rose in excess of 1.20% erasing part of opening losses of the week. Mid cap index also saw gains of 1.50%. 


For the day watch for some consolidation in benchmarks with strong possibility of stock specific action. Watch for a decisive move out of 15500-15900 zone for putting additional money to work. Continue to trade with rotational bias till the indicated range is taken out.

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