VIX has broken out. We have discussed this in the past. VIX is the fear indicator and with the Elections imminent it was bound to shoot up. See the chart of SP500 VIX below:
It has broken out of a downward sloping line. Very rarely does the SP500 VIX remain above 40 for longer than a week, Now see the India VIX chart.
India Vix was finding resistance at 24. it has now broken out and is well above 25. Trading these markets is tough as we will see both sided moves. Once the event is over VIX will cool off suddenly. Till then fasten your seatbelts!