India Vix

The volatility index tends to rise usually contra to Nifty. Currently at 21 has caused large red candles in hourly time frame today, further upside could be more lethal. A daily close above 22.50 will move it towards 24 and above that towards 30. A rising VIX suggests intra day moves get vertical with gap openings. Getting caught on the wrong side can cause massive m2m damage. It usually cools off after a correction or at an event - since we are into Q3 results - large cap noes and Budget on Feb 1 are some factors to be kept in mind.
PS: This is not a suggestion to go bearish, just a suggestion to cut down on exposure

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This is not a good sign for longs (at least in the short term) - sustaining above 22.50

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Tested 24 today. Sustaining above this has usually seen markets correct / sharp moves (which we witnessed today both down and up)

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Daily close above 24.50 would open the path of 32-35 which would make what we are seeing since the past 1 week as a trailer

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Once again trying to push its way above 24. This time a daily close above 24 could take it to 30+