India VIX Rises 0.53% as Nifty Nears 24,050

Mumbai, Aug 19: India VIX, the volatility gauge for the Indian equity market, stood at 11.46 at 10:14 IST on Wednesday, up 0.06 points or 0.53% from the previous close of 11.39. The index opened at 11.38 and moved between a day low of 10.06 and a high of 11.72 during the opening session. 

The move came as domestic benchmark indices remained under pressure, with the Sensex down around 250 points and the Nifty near 24,050. Higher crude prices were cited among the key factors behind the market decline. The opening session also followed a six-session slide for the Nifty 50. 

India VIX Holds Above 11 as Nifty Nears 24,050 

India VIX was at 11.46, compared with its previous close of 11.39, marking a 0.53% increase. Its opening value of 11.38 was marginally below the previous close, before the index moved to an early high of 11.72. The reported day low was 10.06, giving the gauge an opening-session range of more than 1.6 points. 

The movement came alongside weakness in the benchmark indices. The Sensex was down about 250 points, while the Nifty was near 24,050. The decline in domestic indices formed the immediate market backdrop for the rise in India VIX during early trade. The index nevertheless remained within its established annual range, with the 8.72 low and 28.90 high defining its 52-week boundaries. 

Higher Crude Prices Add Pressure as Markets Extend Declines 

Higher crude prices were identified among the key factors behind Wednesday’s market decline. The pressure came as the Sensex fell around 250 points and the Nifty traded close to 24,050 during the morning session. 

The market also remained under the influence of the Nifty 50’s six-session slide. Pre-market coverage focused on whether the Nifty 50 could rebound after the extended decline and whether the Bank Nifty could reclaim 57,500. Early market updates subsequently showed the Nifty below 24,100, while the Sensex was lower by around 180 points at 7:00 AM. 

By 9:37 AM, market coverage reported the Sensex down around 250 points and the Nifty near 24,050, again identifying higher crude prices among the factors behind the decline. 

India VIX Stays Below 52-Week High of 28.90 

Despite the early rise, India VIX remained well below its 52-week high of 28.90. Its 52-week low stands at 8.72, placing Wednesday’s opening value of 11.46 between the two annual extremes. 

The returns section showed a 20.78% figure. The seasonality data showed that India VIX has delivered positive returns in 12 out of 18 years during August. The month recorded a maximum positive change of 68.84% in 2015, while the average positive change was 18.10%. The maximum negative change was -11.26% in 2016, the average negative change was -5.39%, and the average change was 10.27%. 

Neutral Rating Leaves 12.07 as Classic Resistance 

The daily technical rating for India VIX was NEUTRAL. The technical page showed moving averages, technical indicators and moving-average crossovers as –. 

Classic pivot levels placed the pivot point at 11.10, with resistance at 12.07, 12.74 and 13.71, and support at 10.43, 9.46 and 8.79. 

Fibonacci levels showed resistance at 11.73, 12.12 and 12.74, with support at 10.48, 10.09 and 9.46. Camarilla levels placed resistance at 11.54, 11.69 and 11.84, while support stood at 11.24, 11.09 and 10.94. 

The levels are calculated from the previous trading day’s price range. During the opening session, India VIX’s high of 11.72 was close to the Fibonacci resistance of 11.73, while its low of 10.06 was below the classic first support of 10.43. 

Six-Session Nifty Slide Keeps India VIX in Focus 

The India VIX movement unfolded as the domestic market continued to record weakness in benchmark indices. The Nifty 50 entered Wednesday after falling for six consecutive sessions, while pre-market commentary highlighted the possibility of a rebound and the 57,500 level for the Bank Nifty. 

The first market update at 7:00 AM reported the Sensex slipping 180 points and the Nifty moving below 24,100. By 9:37 AM, the Sensex decline had widened to around 250 points, while the Nifty was near 24,050. Higher crude prices were again cited among the factors behind the decline. 

Against this backdrop, India VIX remained above 11 after opening at 11.38 and touching 11.72. At 10:14 IST, the index was only modestly above its previous close despite the wider opening-session range. 

August Data Shows 10.27% Average India VIX Change 

The August seasonality data show positive India VIX returns in 12 of 18 years. The strongest positive monthly change was 68.84% in 2015, while the average positive change was 18.10%. 

On the negative side, the maximum August decline was -11.26% in 2016, with an average negative change of -5.39%. The overall average change for August was 10.27%. 

These historical figures accompany Wednesday’s live reading of 11.46, while the index’s reported technical trend remains NEUTRAL. 

India VIX At 11.46 as Crude and Indices Shape Opening 

By 10:14 IST, India VIX was at 11.46, up 0.06 points or 0.53%, after opening at 11.38 and trading between 10.06 and 11.72. The Sensex was down around 250 points, while the Nifty was near 24,050. 

Higher crude prices were among the factors cited for the market decline, alongside the Nifty’s six-session slide. India VIX remained below its 52-week high of 28.90, while its daily technical rating stayed NEUTRAL. The session’s reported pivot levels placed 11.10 at the classic pivot point, with 12.07 as the first classic resistance and 10.43 as first support for Wednesday. 

India VIX stood at 11.46 at 10:14 IST, up 0.53%, after opening at 11.38 and moving between 10.06 and 11.72. The opening backdrop included a Sensex decline of around 250 points, the Nifty near 24,050, higher crude prices and a six-session Nifty decline. 

Source 

• https://www.nseindia.com/reports-indices-historical-vix