Massive build up in puts oi at 7700,7800 and even lower. Good reduction of oi on the calls side at 7800 ce and 7700 ce. To me it looks like todays move was a short covering one with short positions being built up. Incase its not and im wrong then 8000 should be reached rather soon. This month would be very interesting.
Overall bias i wouldnt think of being long apart from on a straddle till 7970 is taken out. But thats far enough to destroy any shorts by the time it gets there. Hence i think its safer to hedge since this is midpoint (7850) for bulls and bears.