Daily Report · July 9, 2021

Morning Pulse 09/07/21

  • As expected market couldn’t cross the resistance and fell back. Nifty may retrace tp 15450 and BankNifty to 34000.
  • US markets also fell in futures market but recovered when opened.
  • Right now, futures are more or less stable
  • US bond market saw wild action yesterday, with yields falling sharply. Some recovery is observed post market.
  • NIfty ATR(Average True range) has come back to pre covid levels.
  • We are going to see low premiums from here on if we stay below 15 VIX just like in 2015-2019.
  • TCS announced Rs 7 Dividend with a lackluster performance, missed street estimates.
  • Looks like US Bond market is going to rule the price action in the short term with RRP in focus.