India VIX
NSE's fear gauge — the market's expected 30-day NIFTY swing, in one number.
Definition
India VIX is a volatility index published by the NSE that represents the market's expected volatility of the NIFTY 50 over the next 30 days. It is computed from the order-book prices of near and next-month NIFTY options, and is quoted as an annualised percentage. A higher VIX means the market expects bigger swings.
Why it matters
India VIX is the headline read on market sentiment and risk appetite. It tends to spike during sharp falls and ahead of major events (election results, budgets, policy decisions), which is why it is called the fear index. Traders use it to size positions, time premium-selling strategies, and gauge whether options are broadly rich or cheap.
Example
Suppose India VIX is quoting around 14. That implies the market expects NIFTY to move within roughly ±14 percent annualised, or about ±4 percent over the coming month (14 ÷ √12). If VIX then jumps to 22 on a sudden sell-off, option premiums across strikes inflate sharply as expected swings widen (illustrative figures).
See it live
Watch how a moving VIX reprices live NIFTY premiums on TradePulse's option chain.