India VIX is a volatility index based on the Nifty index option prices. From the best bid-ask prices of Nifty Options contracts, a volatility percentage figure is calculated, which reflects the likely stock market volatility over the next 30 calendar days.
Sensex and Nifty reach new highs, but caution advised for potential correction. Analysts predict hurdles at 23,000 levels with possible market correction before elections. Foreign investors show interest in Indian shares.
This week, investors will be eyeing key events such as the F&O December series expiry, India's fiscal deficit, current account deficit, and bank loan growth, along with goods trade balance, and initial jobless claims in the US that will keep the markets buzzing.
"The market looks positive even though it has run up a lot," said Dharmesh Shah, head of technicals at ICICI Direct. "A breather cannot be ruled out at the psychological levels of 21,000, which should not be looked at as a negative construction, but a buying opportunity for traders."