Center's gesture to reduce Long Term Capital Gain tax on FPI's and delay in increased registration fees for new vehicles have acted as a catalyst for a pullback rally in the index. The Indian benchmark opened on a gap up note at 11,087.90 levels and managed to capitalize its momentum by moving further to an upside of 11,175 levels. All sectors are trading in green while Auto stocks gained 2.34%. Ibulhsgfin, Vedanta and Maruti are top gainers while Yes Bank, Coal India and ITC are top losers. On hourly scale, the index is forming a Bullish Butterfly' harmonic pattern that signals for a reversal. The index is likely to witness a small pullback after a strong rally till 11,000 levels near Kumo cloud.