Nifty

Steep rise comes to a pause. Time for consolidation. There is a Negative Divergence on Stochastic Indicator. Though trend remains bullish some correction and/or consolidation is normal. Bulls are supposed to book profit. This is evident in steep rise in Call OI of 11600 strike. 11000 Put is held as the second highest OI. So this is a strong support. Now 11500 will be looked at for critical level for short term direction.