The RBI held the repo rate at 5.50% today with a continued “withdrawal of accommodation” stance, citing risks from food inflation and global uncertainty. The market remained calm, consolidating in a narrow range post-announcement. Nifty closed at 24,574, staying below key resistance at 24,650 (R1) and pivot at 24,594.67 (CPR for tomorrow). Support lies at 24,518 (S1). Option chain shows max CE OI at 25,000–24,700 and PE OI at 24,600–24,000, indicating strong resistance above and base at 24,000. BankNifty ended at 55,411, near its pivot (55,399) with resistance at 55,571 (R1) and support at 55,239 (S1). Max CE OI at 57,000–56,000 and PE OI at 55,500–55,000 suggest tight range. PCR: Nifty: 0.60 (bearish bias) BankNifty: 0.77 (neutral) India VIX: 11.96 — low volatility, but narrowing CPRs signal a breakout is near. Top Gainers:

ASIANPAINT

HDFCLIFE

BEL

Top Losers:

WIPRO

SUNPHARMA

INDUSINDBK

Outlook: The market is coiled for a move. Nifty above 24,650 or below 24,518, and BankNifty above 55,571 or below 55,239 could trigger a directional breakout. Until then, expect consolidation.

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