India VIX eyed! 17,500 possible in October series if Nifty defends 16,700: Kavita Jain

"In the monetary policy, RBI has given an optimistic stance on rupee depreciation. In the period 1 st April to 28 Sep, while US Dollar appreciated by 14.5% and the Indian rupee depreciated in a very orderly manner by 7.4%. In the coming week, the Indian currency may also find support from a fall in the dollar index. The RBI is encouraging state-run refiners to reduce dollar buying in the spot market to contain a sharp fall in the rupee."