Today(31-7-12) RBI reduced Statutory Liquidity Ratio(SLR)1% to 23% and left key rates untouched. Nifty opened at 5218 with a gain of 18 points, on RBI announcement moved down to 5154(-46), moved up to 5236(+36) and closed at 5229 with a gain of 29 points. Nifty futures range was 5168 - 5247, having a difference of 79 points. However, true volatility was 100 points(18+46+36=100). One more aspect observed recently(including today) was when ever the difference between Nifty futures and Agni level is more than 120 points Nifty looses its strength and comes down. Today when Nifty futures was at 5244 the difference was 145(5244 - 5099) and it reduced to 69 points at 11:40. Tomorrow's Agni level is at 5174.
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