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).
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.