big day

rtodleased yesterady was a big day as the rbi monetary policy was announced the market had rallied yestaerday on the expectation that rbi is not going to take a hawkish stand and at most is going to incraese the rates by 25 basis points

but rbi outlook released yesterday was quite hawkish but market still was up in the morning in anticipation

but the rbi monetary policy cahanged all that rabi increased the rates by 50 basis point and signalled a hawkish stand and immediately themarket broke down and was soon down 300 points with nifty losing close to  100 points

so what now

some recovery can be expected and traders can long calls to take advantage of that for intraday

but with this expect the rally that has been going on for the last 3 weeks to come to an end the market from now onwards looks bearish and would be a sell on rise market