In the last two trading days after trading down towards 9100 levels and today morning, Nifty 50 rebounded to trade above but closed below 9350 levels , a failure of NIFTY 50 climbing back to middle of narrower range (9200-9600 levels), from a broader trading range (with lower boundary around 9100 levels and upper boundary around 9800) .
INDIA VIX which had jumped earlier, has started declining in line with S&P VIX and we need to watch out for a downward break, if this trend continues. In the short term, INDIA VIX may be lagging or leading indicator for NIFTY 50.
Disclaimer: This is not a trading recommendation. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.