F&O Talk | Nifty, Bank Nifty struggle; further downside likely below key levels, says Sudeep Shah of SBI Securities

“After the Federal Reserve's monetary policy announcement on Wednesday, global indices sharply declined. Despite the Fed's decision to lower interest rates by a quarter point, as anticipated, the projection of fewer rate cuts next year than previously estimated dampened investor sentiment. Nifty's benchmark index has tumbled nearly 5%, marking its steepest weekly fall since June 2022. This decline has wiped out the gains of the past four weeks.”