India Vix

The India VIX as a sentiment indicator has come back to the 24 level which was previously a resistance for many years and can be a support unless volatility falls below that. On the other hand the next resistance would be near 36. Volatility moves very slowly and a big jump upward strongly depend on the type of correction that the market is witnessing. If it's only a pullback then this is all we will get. Counting waves like I have marked can be a waste of time and wrong indication of what to expect.