The India VIX is a volatility Index based on the Nifty Index option price. This index is computed based on the out of Money Option prices of the Nifty. This index counts the possible market volatility for the next 30 calendar days. Chicago Board Option Exchange (CBOE) owns the VIX trademark.
India VIX uses the computation methodology of CBOE. India VIX is shown in terms of %. So, it never goes below 0 or above 100. It has negative correlation with NIFTY. It means India VIX increases results into Nifty decreases likewise India VIX decreases results into Nifty increases. This index is more volatile and can provide three to four times more returns than assets based index. Because of high gain speculator get attract to such index. Due to heavy margin money, it is treated as expensive index.