INDIAVIX at Crucial Support

INDIAVIX has reached its almost year-long support on the Daily chart . Do we see further cooling off in VIX , translating to further rise in Nifty? Or do we see a mean reversion in VIX leading to fall in Nifty from its life-highs? We will be watching out for sure.

Note: We published on 7 Mar when VIX reached the top of this resistance zone and it has successfully cooled off since then (link attached).
Comment: Looks like INDIAVIX is breaking down below the 18 support. The next major support lies in 11.5 range. Fall to that extent would mean significant upside in Nifty. Let's see.


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