In coming trading sessions Indian stock market is likely to remain highly volatile, however the short term trend looks bearish. If RBI adopts a softer stance towards rates, Nifty could see a rise to 4,950 in the short term. However, if the meeting is non-eventful, Nifty could see some weakness to its next level of supports of 4,630-4,525.
For Intraday Trading Tomorrow (16-Dec) trend deciding level is at 4750. If Nifty manages to trade above this level then we can see immediate resistance around 4800-4850 levels. On the downside if Nifty unable to trade above 4750 level the it could find support level at 4685-4640.
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