India VIX
India's 'fear gauge' — measures the market's expectation of Nifty volatility over the next 30 days.
India VIX is computed from the order book of Nifty options and expresses expected volatility as an annualized percentage. It doesn't predict direction — only how much movement (up or down) the market is pricing in.
As a rough guide: below 12–13 typically signals a calm, low-volatility market; 15–20 is a normal working range; above 20–25 usually coincides with genuine stress (elections, geopolitical shocks, global sell-offs) and wider, faster intraday swings.
Example
India VIX spiking from 13 to 22 in a single session — even with the Nifty flat — tells you options traders suddenly expect much bigger moves soon, often ahead of a known event like a budget or a central bank decision.