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"Nifty might revert back to its short term moving average of 20EMA i.e. around 10,325 which might work as immediate hurdle zoneSensex, Nifty rose on Wednesday, with financial stocks accounting for nearly half the gains, while investors awaited the outcome of the US Federal Reserve policy meet later in the day. In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.Nifty opened with gap-up but failed to hold higher levels and closed with marginal gains of 30.90 points. It has formed 'Inverted Hammer' followed by Piercing Line candlestick pattern on daily scale indicating short term trend reversal. Till it holds 10,000 mark decisively, bounce back from lower levels cannot be ruled out.
Nifty might revert back to its short term moving average of 20EMA i.e. around 10,325 which might work as immediate hurdle zone
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