Mumbai, Nov. 4 -- Indian stocks rose for the fourth straight day on Tuesday, reaching their highest level in the last two months, supported by a decline in crude oil prices and optimism ahead of the US mid-term elections. However, a key contrarion indicator suggests that the market may have entered overbought territory, raising the possibility of a decline as investors sell shares to book profits. The Nifty closed 1.58% higher at 23,810.85, its highest since 4 September, while the BSE Sensex advanced 1.62% to settle at 76,917, the highest since 1 September. The market capitalisation of BSE-listed companies rose by Rs.4.5 lakh crore. Foreign institutional investors turned net buyers for the third consecutive day, buying shares worth Rs.6,856 crore on Tuesday, provisional data from NSE showed. The Nifty is now trading 7.3% above its 52-week intraday low of 22,179.9 on 8 October, triggering expectations that markets might be close to topping out and could witness profit-taking in the short term. The indicator in question is the Nifty aggregate put-call ratio (PCR) open interest which reached 1.52, its highest since 5 January's 1.46, signalling that the market might be overbought. Open interest refers to the buy-sell options positions at various Nifty levels. After the PCR touched a high of 1.46 on 5 January this year when the Nifty was at a record high of 26373.2, the index plunged 16% till October. htc...