“Markets are likely to stay range-bound with a mixed bias Wednesday, mirroring the sluggish overnight US markets trend as investors await the US Fed's FOMC meeting outcome to be held late night today. The street will be eager to know if the Fed chairman has the confidence that inflation will be tamed and no more tightening is needed. Powell will emphasize that data dependency (especially July & August CPI numbers + jobs report) will remain a key theme for future rate prospects. Technically speaking, Nifty’s recovery faces resistance at 19887 while the downside remains well supported at 19561 mark.