INDIA VIX still have the space to come down till 19, if it happens, Nifty will move upward and Nifty is still not in to much overbought zone. Every trade is their own risk & reward ratio, so trade with care, each idea is sometime not trade-able.
Despite not being like your average widely traded security, India VIX can be invaluable in providing info on the broad market movements along with option pricing. It is known that with an increase in VIX, one can expect an increase in ATR (Average True Range). This is a double-edged sword because, on one hand, a higher ATR indicates a higher potential move...
I wish I had an international account. Unfortunately I cannot find a U.S. ticker that will be able to take advantage of this high spike in INDIA VIX.
It looks like India was late to the party and its VIX is just spiking now. I foresee INDIA VIX and its futures to behave much like the VSTOXXX and VIX. Should go down to 40-60 range.