respectively, reinforcing the view on the index.
India VIX, a gauge of the underlying market volatility, inched up to 15.17 on Monday ahead of the RBI’s credit policy after hovering near its all time low of 13.04 in the last two months. On Thursday, it fell by 1.7% to 14.13. Generally the market volatility is observed to fall when the market is on a strong uptrend. It is a measure of the amount by which an underlying Index- the Nifty- is expected to fluctuate, in the near term.