Almost a generation of market participants have been trained to abide by the golden rule: don't fight the Fed. But, an army of investors and traders these days is defying this tenet, even as the American central bank retains its hawkish policy tone. The Sensex and Nifty on Friday closed at record levels just a couple of days after the US Fed Chair Jerome Powell dashed hopes of any immediate reversal in the interest rate hike cycle,signalling it won't back off from its fight against inflation even if it means a sharp downturn..