"Risk comes from not knowing what you're doing"-Warren Buffett

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Have projected my views on the chart itself...

It is the downtrend in VIX which is helping push / maintain Nifty in the upward direction...

Keep a close eye on Volatility index as it may be an early indicator to signal a reversal in market.

And if VIX starts moving up towards 24 some time later this year (it has tested 24 levels each year in the last 5 years), and barring once during 2014 election time, on 4 other occasions whenever that has happened Nifty has seen a fall of 10-15 % magnitude. You definitely would not want to be a buyer in that market...

Take care and safe trading...!!!
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