December 17, 2015 / 5:03 AM / 2 years ago

BUZZ-India VIX slumps; raises odds of a Santa Claus rally

** India VIX slumps as much as 15.4 pct

** Heads towards its biggest one-day fall since Sept.18 but not yet serving as a contrarian indicator

** U.S. Federal Reserve announces a gradual tightening cycle with its first rate hike in nearly a decade

** NSE index has fallen only 4 out of 20 times in Dec. since 1995 vs 6 times of MSCI Asia Ex Japan index - Reuters Calculations (bit.ly/1IVMt67)

** Based on history Nifty should end near 7,950-8,000 for Dec. 2015 to be a positive month

** Also, 8,000 holds highest open interest among call options - NSE data

** Asian EMs including India rise; dovish Fed may boost risk appetite, flows (RM: abhishek.vishnoi.thomsonreuters.com@reuters.net)

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