Rajesh Palviya of Axis Securities sees Nifty and Bank Nifty under pressure, with key levels likely to dictate moves. He expects IT stocks to remain weak and advises selective trades in Ashok Leyland and Biocon.
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.
Federal Reserve Chairman Kevin Warsh stressed commitment to the 2% inflation target. He clarified there is no implicit inflation target above this for the committee
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