Nifty Medium Term

Nifty Medium Term: Last week I discussed volatility and that the India VIX was not confirming a near term top, this weeks weekly EW update looked at the US VIX that was not making new highs with the lower low in US indices, another non confirmation. So here is the risk on risk off model that has become increasingly tracked because of the risk-parity trade where people buy bonds when they sell stocks. So this model now shows a 3 wave rally done in bonds and if that turns out right we maybe again be in Risk-on mode from here as bonds sell off in favor of equities near term. So Nifty may see spill over of this as few other triggers exist locally till the election results.