India’s VIX rose slightly but stayed at lower levels, resulting in a choppy market with little movement. Options data indicates a narrower trading range with a shift between zones of 18,500 to 19,000. Analysts have said that until there is a decisive breakout on either 18,500-18,800 band, trends will remain complex. A minor upside bounce can be expected, but weakness under the crucial support of 18,650 levels will bring the next round of weakness in the market. Immediate resistance is at 18,760 levels.
