Nifty

A hammer candle is in the view indicating indecision at resistance zone of Pitchfork. What is noteworthy in the OI Table is that bulls today have built huge position at 11400 Put strike (total 703200 shares added) and bulls are guarding firmly the wall of strong support at 11000 Put -- the highest OI. Bulls are not much tired. Yet some consolidation is possible.
Crude is close to 200 DMA.
Dollar Index is at 95.27-- on the higher side.
Nifty PE Ration of August expiry is at the highest zone @ 28.23 (27.70 of 10th Jan 2008 and 27.19 of 15th Feb 2000).