Hi,
Today, Nifty Opened around 4750 went up immediately towards 4800.crossed 4800 and got resisted at 4812 in the morning session. Moving in the range of 4790-4812 till the RBI policy is out. RBI kept the status quo. no change in interest rates.no change in the CRR. Market swiftly came down to 4780 levels immediately after the RBI policy is announced. Nifty recovered smartly and went on to touch 4815 levels and it appeared like market is taking the policy in its stride. Selling pressure was exerted from 2 p.m or so and Nifty kept sliding from there without any stops. Broke the important supports of 4730, 4700 and 4650 on its way down. No recovery in the close and finally closed at 4650 , a 25 month low.
here is Nifty Option Chain of 16th Dec 11(Fri).
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