India VIX is a market-wide volatility index, calculated from Nifty 50 Options prices, reflecting the market’s expectation of near-term volatility for the broad index. It’s often called a “fear gauge” since it tends to rise during periods of market stress or uncertainty, and stay lower during calm, stable periods.
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See how India VIX fits alongside individual stock IV in What Is Implied Volatility (IV)? Explained for Beginners.