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.

Will the IT Index break out or would reverse again ?

 #niftyit #cnxit The Nifty IT index can be seen at a crucial resistance zone (window gap) from where it broke down way back in April 2022 & then on , it had been consolidating.

Now that the momentum has climbed into medium term bull zones, any break outs from here could be reasonably good one ,but alternatively would it surrender to the resistance & fizzle out like it did in last sept?

The global US index #NASDAQ has risen up towards all time high within a descending wedge with momentum climbing into bull zones , but as of now that also is ls at resistance.

    

Finger crossed. It had been long wait for those who bought the dips believing in the indian IT story.Market index is on record high with two major IT stocks Infy & TCS contributing to it both of which also seen at top of trendline channel in brim of a breakout.

CONSOLIDATION FOR BREAKOUT OR REVERSAL ?: Weekly Stock Market Analysis :June 12 2023

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CONSOLIDATION FOR BREAKOUT OR REVERSAL ?: Weekly Stock Market Analysis :June 12 2023

Youtube channel :  https://youtu.be/P8O7n1KVqhE

INDECISIVE FLAT CLOSE AHEAD OF FED EVENT.MORE RETRACEMENT?: Daily Stock Market Analysis :May 04 2023

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INDECISIVE FLAT CLOSE AHEAD OF FED EVENT.MORE RETRACEMENT?: Daily  Stock Market Analysis :May 04 2023

Youtube : https://youtu.be/Fq7V0QnWQeI

BULLS MAKE BIG MOVE TO CLIMB 18K.WILL NEXT RESISTANCES BE EASY?. : Weekly Stock Market Analysis :May 02 2023

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BULLS MAKE BIG MOVE TO CLIMB 18K.WILL NEXT RESISTANCES BE EASY?. : Weekly  Stock Market Analysis :May 02 2023

Youtube channel :  https://youtu.be/hIZQWxdhEgs

GREEN CLOSE AGAIN.18K ON MONTHLY EXPIRY ?: Daily Stock Market Analysis : April 27 2023

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GREEN CLOSE AGAIN.18K ON MONTHLY EXPIRY ?: Daily  Stock Market Analysis : April 27 2023

Youtube : https://youtu.be/5FDpBR8sjQk

IT BLEED & MARKET RETRACE.READY FOR NEXT LEG RALLY? : Daily Stock Market Analysis : April 18 2023

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IT BLEED & MARKET RETRACE.READY FOR NEXT LEG RALLY? : Daily  Stock Market Analysis : April 18 2023

Youtube : https://youtu.be/g5DrpFzvh5Y

CONSOLIDATION AT SUPPORT WITH WEAK BANK INDEX: Daily Stock Market Analysis : Jan 20 2023

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CONSOLIDATION AT SUPPORT  WITH WEAK BANK INDEX: Daily  Stock Market Analysis : Jan 20 2023 

Youtube :  https://youtu.be/IwEod6PCPYk

BEARS SHAKE IT UP BEFORE WEEKLY EXPIRY : Daily Stock Market Analysis : JAN 5 2023

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BEARS SHAKE IT UP BEFORE WEEKLY EXPIRY : Daily  Stock Market Analysis : JAN 5 2023

Youtube : https://youtu.be/fCerYPfd-Lw

STRONG BANK INDEX.MARKET CONTINUE RALLY AHEAD OF WEEKLY EXPIRY: Daily Stock Market Analysis : Nov 17 2022

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STRONG BANK INDEX.MARKET CONTINUE RALLY AHEAD OF WEEKLY EXPIRY: Daily  Stock Market Analysis : Nov 17 2022

Youtube : https://youtu.be/f-d66n7Cx8g

momentum divergence or head and shoulder breakdown ? NIFTYIT

 #NIFTYIT short term momentum has unconfirmed bullish divergence that could play out to lift the index upside from bearish to sideways with IT index at a support zones however charts also shows a potential risk of a 'head and shoulder' break down to happen on neckline breach