Markets rallied on Wednesday after price breakout confirmation above 18580 and were also supported by volume breakout with total turnover crossing 100000 crores. The Fed commentary turned dovish about the further pace of rate hikes thus impacting global markets positively. This can provide a further push for Indian markets, and we can expect the upside potential for Nifty 50 to extend towards 19867 in a quick span of time with a revised stop-loss at 18200.
On the global front, the factor which can act as a catalyst for a sudden reversal in Indian markets is a sharp fall in the USDJPY equation, hence it is very necessary to maintain a stop loss of 18200 in Nifty 50 for existing positions.
Nifty 50 index
Stocks to watch
Positive Read through
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