How will US stock indices breakout or reversal following fed event impact Indian indices?

As seen on technical charts, The US indices #DowJones seems to be on top of a rising wedge close by the all time high. same is reflecting in other US Indices ike #NASDAQ & #SPX(S&P 500) as well.

The question is whether there would be a break out to new all time high or would there be a reversal from there, following fed event expected next day? keep in mind that the US indices as well as Indian index #nifty #niftyfifty #nifty50 moved ~12-13% from previous swing lows during this ongoing rally.

It is widely expected to keep the fed funds rate steady at 5.25%-5.5%. inflation has been decelerating, recently which triggered this rally.Fed had indicated that it is premature to reduce interest rate  but from trading perspective fed commentary ahead would be keenly watched & market reaction & volatility could be expected. Although therefore although there is potential for a big move technically , market may wait & consolidates for some more before rate cuts comes in is the best guess i could make.