“This is all about the Fed. A very strong jobs report like we had puts pressure on the Fed to tighten for longer,” said Adam Sarhan, chief executive of 50 Park Investments. “The market is scared the Fed is going to overshoot again. If they tighten too sharply and too long, that’s going to cause a hard landing, a deep recession.”
Technical Stock Pick: JSW Steel finds support above neckline of 2-year consolidation; should you buy?
Short-term traders can look to buy JSW Steel stock now for a possible target of Rs 860-880 in the next 1-2 months, suggest experts.