1.where are views stored once they are created?
In the current database. Have a look.
To see the view:
SELECT * FROM sys.[views] v
To see the view definition(SQL Query) :
SELECT * FROM sys.sql_modules sm WHERE sm.definition LIKE '%yourviewname%'
2.if indexes are created on views where are it stored?
In the local disk specially for non clustered index. Again to see the definition use the above query.
3.does the indexes created on view doesnt reflect base tables?if "NO" y?
Are talking about indexed view? No it does not reflect the underlying tables. because when appropriate index is created on views, the index is used by the optimizer. If the index(created on view) is not appropriate one, in that case optimizer go for index created on actual table.
4.how does indexes arranged in views...as by definition " view ia a complied query"?
As usual, but there are some restriction for indexed view. Actually when a query is run in the for the first time SQL Server creates a plan for it for subsequent runs.