Fed chair Jerome Powell, who sounded more hawkish than anticipated, has increased the interest rate forecast to 4.4% by the end of 2022. The indication is that 125 bps more rate hikes can be expected in the remaining two policy meetings scheduled this year.
Chart Check: RITES trading near crucial support levels; buy for a bounce back towards 500 levels
Short-term traders can look to buy the stock now for a possible bounce back towards 500 levels in the next 2-3 months, suggest experts.