The weekly chart of the Indian stock market Nifty index shows a rounding top formation that targets 6000 on the Index. This coincides with a rounding bottom that is forming on the weekly chart in the India Vix which is a measure of Indian stock market volatility suggesting an upsurge in volatility in the upcoming months. The pattern suggests a level of 35 for the India #Vix up over 50% from current levels. This implies significant downside for the Nifty in the upcoming months.
Incidentally the India Vix has traded below the US Vix recently and a catch up to the upside is likely as the India Vix tends to be significantly higher than the US Vix.
Incidentally the India Vix has traded below the US Vix recently and a catch up to the upside is likely as the India Vix tends to be significantly higher than the US Vix.
Rounding Bottom in India Vix Implies Downside Ahead http://t.co/Hj1JzDT8y4 pic.twitter.com/8TL5CvoTrT
— samuelR (@RajveerRawlin) September 6, 2015
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