Home / Business and Economy / India VIX Plunges: Bulls Roar Back to Life
India VIX Plunges: Bulls Roar Back to Life
18 Mar
Summary
- India VIX fell 13.5% over two days, boosting market confidence.
- Nifty 50 extended gains for a second session, nearing 23,600.
- Bank Nifty recovered over 1,700 points from recent lows.
The Nifty 50 continued its upward trend for the second day, closing at 23,581, up 0.74%. This rally, supported by short covering and a significant drop in volatility, has seen the index gain over 600 points from recent lows. The India VIX, a key measure of market volatility, plunged 13.5% over the last two days, falling below 19.79 and offering much-needed comfort to bulls. However, experts suggest that sustained gains above 23,600-23,700 are crucial for further upward movement.
The Bank Nifty also experienced a substantial recovery, adding 463 points to close at 54,876. The index bounced back over 1,700 points from its support near 53,250. While the momentum is improving, analysts advise caution, noting that the current move may be a recovery rather than a full reversal. Immediate resistance for the Bank Nifty is seen between 55,000 and 55,200, with support at 53,900-54,000.
