the instant technical indicator

if the ratio of
the turnover of
the top traded 2 put-options for the day
to
the turnover of
the top traded 2 call-options for the day
is between 0.80 to 0.99
or more than 1.30
the market is likely to remain buoyant!

if this ratio
is below 0.8
or between 1.00 to 1.30
the market is likely to slip!

(where to get live nifty call put values
http://nifty50options.blogspot.com/

to get call put values
http://nseindia.com/content/fo/foquote.htm

whereever turnover data is not available
u can use no. of traded contracts)