Online share trading updates, Productive trading tips: ProStocks blog

: Blog; 27 March 2026; Hits: 248

What India VIX Is Telling Us About War & Market Volatility

Markets don’t just react to events — they react to uncertainty. One of the most powerful indicators of that uncertainty is the India VIX, often called the “fear index”.

The India VIX does NOT tell you whether markets will go up or down — it tells you how volatile and uncertain markets are expected to be.

What is India VIX?

The India VIX measures expected market volatility based on options pricing. During events like wars, geopolitical tensions, or economic shocks, traders expect higher volatility — and the VIX rises.

Recent Movement in India VIX

Date	Open	High	Low	Close	% Change
27-Feb	13.06	14.04	11.20	13.70	4.88%
02-Mar	13.70	17.81	12.83	17.13	25.01%
04-Mar	17.13	21.37	16.97	21.14	23.41%
05-Mar	21.14	21.14	17.30	17.86	-15.52%
06-Mar	17.86	20.14	17.20	19.88	11.33%
09-Mar	19.88	24.49	19.22	23.36	17.51%
10-Mar	23.36	23.36	18.78	18.91	-19.06%
11-Mar	18.91	21.39	17.24	21.06	11.40%
12-Mar	21.06	22.36	20.82	21.52	2.17%
13-Mar	21.52	22.88	21.25	22.65	5.26%
16-Mar	22.65	22.88	19.82	21.60	-4.61%
17-Mar	21.60	21.60	19.63	19.79	-8.39%
18-Mar	19.79	19.79	18.59	18.72	-5.41%
19-Mar	18.72	23.20	18.72	22.80	21.78%
20-Mar	22.80	23.14	21.69	22.81	0.03%
23-Mar	22.81	27.17	22.81	26.73	17.17%
24-Mar	26.73	26.73	24.63	24.74	-7.44%
25-Mar	24.74	25.23	24.14	24.64	-0.40%

How to Interpret India VIX Levels

Below 15: Stable markets, low volatility
15–20: Mild uncertainty
20–30: High volatility — critical zone
Above 30: Crisis-level panic (seen in 2008 & COVID)

Current VIX levels (20–27 range) indicate markets are in a high-volatility zone, but not yet in panic mode.

What VIX Is Signalling Right Now

Markets expect uncertainty, but not a prolonged crisis
Volatility spikes show reactions to news flow around the war
Even if the war cools down, secondary effects (like oil prices) may keep volatility elevated

What Should Investors Do?

Consider hedging strategies in volatile markets
Re-evaluate asset allocation between equity and debt
Reduce exposure to high-beta stocks
Focus on stability and capital preservation in the short term
Keep an eye on FPI flows and currency pressure

Key Takeaways

India VIX reflects fear — not direction
Current levels show elevated volatility but not panic
Markets may remain unstable even after geopolitical tensions ease
Portfolio discipline matters more than aggressive positioning right now

Disclaimer: This content is for informational purposes only and should not be considered investment advice. Investors should consult their financial advisors before making any investment decisions.

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: Blog; 20 March 2026; Hits: 154

Closing Auction Session in the Equity Segment: What Clients Should Know

Important Market Update

Equity Market Update

The stock exchange has introduced a new process called the Closing Auction Session, or CAS. This changes how the final closing price of certain shares will be determined. Here is a simple explanation of what this means and what clients should keep in mind.

Notice Date: 19 March 2026 Segment: Equity For Client Awareness

In simple words

For certain shares, the closing price will now be discovered through a short auction-style process near market close instead of depending only on the last trade of the day.

Why this matters

The closing price is important for valuation, market analysis and reference purposes. A structured process helps make it more fair and more transparent.

What is the Closing Auction Session?

The Closing Auction Session, or CAS, is a special process introduced near the end of the trading day to determine the closing price of certain shares in a more systematic way.

Many investors and market participants look at the closing price as an important benchmark. It is used for valuation, settlement reference, index calculations and general market analysis. Because of this, the exchange wants the closing price to reflect actual market demand and supply as fairly as possible.

Simple understanding: instead of the market close depending only on one final trade, the exchange will try to discover a more balanced closing price through a short auction-based matching process.

Which shares will this apply to first?

This process will be introduced in phases.

In the first phase, it will apply to shares in the cash segment where derivatives contracts are available. In other words, the exchange is beginning with stocks that are already part of the derivatives universe.

This does not mean that every listed share will immediately come under the Closing Auction Session.

How will the reference price be decided?

Before the auction process can begin, the exchange needs a starting reference price. This reference price is important because the allowable band during CAS will be calculated around it.

If there are trades between 3:00 PM and 3:15 PM

The reference price will be based on the VWAP of those trades.

VWAP means Volume Weighted Average Price. In very simple words, it is an average price where bigger quantity trades get more weight than smaller trades.

If there are no trades in that period

The exchange may use the last traded price of the day.

If there is no trade in the security during the day, then the previous closing price may be considered, subject to adjustment where required.

Example: if a share has a VWAP of Rs 1,000 between 3:00 PM and 3:15 PM, then Rs 1,000 becomes the reference point for the Closing Auction Session.

What is the price range allowed during CAS?

During the Closing Auction Session in the equity segment, the permissible range will be plus or minus 3% from the reference price.

Illustration

If the reference price is Rs 100

Orders during CAS can generally fall within a range of about Rs 97 to Rs 103.

Why this exists

The purpose is to control extreme movement

This defined range helps the exchange discover a closing price in an orderly manner instead of allowing unreasonable price jumps.

Which orders are allowed during CAS?

Not every order type can be placed during the Closing Auction Session.

Allowed order types

Limit Orders
Market Orders

These orders can participate in the auction process used to discover the closing price.

Order types not allowed

Iceberg Orders
Revealed Quantity Orders
Stop Loss Orders

Clients should be careful while placing orders near market close and should not assume that every order type will be accepted during this session.

How will the final closing price be determined?

For shares where CAS is applicable, the exchange will determine the official closing price based on the equilibrium price discovered during the Closing Auction Session.

If an equilibrium price is discovered

That equilibrium price becomes the official closing price for the day.

If no equilibrium price is discovered

The exchange will use the fallback reference mechanism to determine the closing price.

In simple language, the exchange now has a structured method for finding the closing price even if the auction does not produce a matched result.

What kind of information may be visible during CAS?

During the auction process, the exchange may show indicative information to improve market transparency.

Indicative equilibrium price
Indicative tradable quantity
Total buy quantity and sell quantity
Imbalance quantity
Whether the imbalance is on the buy side or sell side

This gives market participants a better idea of how the closing price is shaping up.

What should clients keep in mind?

The closing price may work differently now

For applicable shares, the final close may now be discovered through an auction-style process rather than depending only on the last trade.

Be careful near market close

Since special rules and price band limits apply, it is wise to review your price and order type properly before placing any order near closing.

Only certain order types are accepted

Some advanced or conditional orders are not permitted during the Closing Auction Session.

This is intended to improve fairness

The aim of the process is to make the closing price more transparent, more balanced and less dependent on isolated trades.

Main takeaway: for certain stocks, the final closing price will now be determined through a formal exchange process designed to better reflect real buy and sell interest.

Frequently Asked Questions

What is CAS in very simple language?

CAS is a short exchange process near market close that helps decide the final closing price of certain shares in a more balanced and transparent way.

Will this apply to all shares immediately?

No. It will be introduced in phases. Initially, it applies to shares in the cash segment where derivatives contracts are available.

How is the starting reference price decided?

It is generally based on the VWAP of trades between 3:00 PM and 3:15 PM. If there are no trades in that period, the exchange may use the last traded price or other fallback rules.

What is the permitted price range during CAS?

The allowable band is generally plus or minus 3 percent from the reference price for applicable securities in the equity segment.

Can I place all order types during CAS?

No. Limit orders and market orders are allowed. Some order types such as iceberg orders, revealed quantity orders and stop loss orders are not allowed during this session.

How is the official closing price finally determined?

If the exchange discovers an equilibrium price during the auction, that becomes the official closing price. If not, the exchange uses a fallback mechanism.

Why has this system been introduced?

The main purpose is to make the closing price more orderly, more transparent and more representative of genuine market demand and supply.

Important Note for Clients

This is an exchange-level market structure update. Clients are advised to remain mindful while placing orders close to market closing, especially in stocks where the Closing Auction Session becomes applicable.

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: Blog; 26 February 2026; Hits: 876

NSE Cancelled My Client’s NIFTY Option Trade. Here’s What Really Happened.

Day before yesterday, our dealing desk at ProStocks received a call from a concerned client.

His NIFTY options trade had been executed — but shortly after, the terminal displayed:

Trade CXL: Trade Cancelled by Exchange

The contract involved was NIFTY 10 March 2026 – 26,600 PUT.

Naturally, the first question was:

“Why would NSE cancel a properly executed trade?”

This Was Not a Broker Cancellation

When something like this happens, clarity is important.

The broker does not cancel such trades.

The cancellation is done automatically at the exchange level under NSE’s surveillance mechanism known as the Reversal Trade Cancellation Mechanism (RTCM).

RTCM was introduced through NSE Circular No. NSE/SURV/65645 dated December 17, 2024.

The official circular can be accessed here: NSE – Reversal Trade Cancellation Mechanism Circular

What RTCM Actually Monitors

NSE tracks intraday trades between pairs of counterparties (identified via PAN or CP codes).

If two parties buy and sell the same contract between themselves in a reversal pattern — especially where quantities and price differences cross certain thresholds — the exchange system may cancel the trade automatically.

The evaluation considers multiple factors together, including:

Reversal quantity compared to total market volume
Buy vs sell ratio between the same two entities
Price impact on square-off
Concentration of volume between the same counterparties

Only when all conditions are triggered does cancellation occur.

Why Deep OTM Strikes Can Trigger It

The strike in question was significantly out-of-the-money.

Deep OTM index options generally have:

Lower traded quantity
Wider spreads
Fewer active participants

In such situations, even moderate trading between the same counterparties can represent a large portion of total market volume.

That structural reality increases the probability of triggering RTCM.

Does This Imply Manipulation?

Not automatically.

Surveillance mechanisms are designed conservatively to protect market integrity.

Sometimes legitimate trades in illiquid contracts may resemble reversal patterns from an algorithmic perspective.

The key takeaway is not about intent — it is about structure.

The Larger Lesson

At ProStocks, which I run along with my father, we see how market structure continues to evolve.

Trading today is not only about direction or strategy.

It is also about:

Liquidity awareness
Execution structure
Counterparty dynamics

Understanding surveillance frameworks is now part of being a serious derivatives participant.

By Aditya Toshniwal

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: Blog; 24 February 2026; Hits: 943

NRI Tax in France on Indian Shares: Capital Gains & Dividend Taxation under India–France DTAA

If you are a Non-Resident Indian (NRI) living in France and investing in Indian listed shares, it is important to understand how capital gains tax and dividend taxation work under the India–France Double Taxation Avoidance Agreement (DTAA).

India has the primary right to tax capital gains arising from Indian resident companies. France taxes its residents on worldwide income at 30% (PFU) and generally allows Foreign Tax Credit (FTC) for tax paid in India.

Capital Gains Tax for France Resident NRIs

Under the amended India–France DTAA, India has clear taxing rights on capital gains arising from sale of shares of Indian companies. Therefore, an NRI resident in France must first pay tax in India as per Indian Income Tax laws.

Type of Gain (Listed Shares, STT Paid)	Indian Tax Rate
Short-Term Capital Gains (≤ 12 months)	20% + surcharge + 4% cess
Long-Term Capital Gains (> 12 months)	12.5% + surcharge + 4% cess

France applies a flat 30% tax (Prélèvement Forfaitaire Unique – PFU) on capital gains. However, tax paid in India is generally allowed as a Foreign Tax Credit in France. If French tax exceeds Indian tax, the difference is payable in France.

Dividend Taxation for France Resident NRIs

Dividend income received from Indian companies is taxable in India under domestic law. France also taxes dividend income at 30% (PFU).

Foreign Tax Credit is generally available in France for Indian tax paid on dividends. Proper submission of a valid Tax Residency Certificate (TRC) helps ensure treaty benefits are applied correctly.

How Double Taxation is Avoided

The India–France DTAA prevents double taxation through the Foreign Tax Credit mechanism. This means:

India taxes capital gains and dividends first.
France taxes the same income at 30%.
Tax paid in India is credited in France.
Only the balance (if any) is payable in France.

Conclusion

For NRIs residing in France, investments in Indian shares are taxable in both jurisdictions. However, due to the India–France DTAA, double taxation is generally avoided through Foreign Tax Credit. In most cases, the overall effective tax aligns closer to France’s 30% rate.

Tags: Notice Board - Important Announcement

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: Blog; 18 November 2025; Hits: 3936

SEBI valid UPI – ProStocks Leads the Way in Investor Payment Safety

Standardized, validated and exclusive UPI IDs for secure fund transfers to SEBI-registered intermediaries.

Circular: SEBI/HO/DEPA-II/DEPA-II_SRG/P/CIR/2025/86 • Dated June 11, 2025

Questions – Click to View Answers

1. What is SEBI's valid UPI framework? 2. How has ProStocks implemented SEBI's valid UPI system? 3. What is my personal ProStocks valid UPI handle and how is it structured? 4. How can I verify my UPI ID using SEBI Check? 5. How do I use my ProStocks valid UPI handle in UPI apps? 6. Why does SEBI valid UPI matter for investors? 7. What are the key do's and don'ts when using valid UPI? 8. How can I get help from ProStocks if I have queries?

1. What is SEBI's valid UPI framework?

To protect investors from fraudulent UPI handles, impersonation and unauthorized collections, SEBI has launched a standardized and validated UPI framework, commonly referred to as “valid UPI” or validUPI.

Under this framework, UPI IDs used for investor payments must be:

Standardized – follow a clear, predefined naming structure.
Validated – mapped to verified bank accounts of SEBI-registered intermediaries.
Exclusive – dedicated to collection of funds under a specific merchant category.

The core objective is to ensure that every rupee you transfer via UPI reaches only the genuine SEBI-registered intermediary you intend to pay.

2. How has ProStocks implemented SEBI's valid UPI system?

Your financial safety is our highest priority. In line with SEBI's circular SEBI/HO/DEPA-II/DEPA-II_SRG/P/CIR/2025/86 dated June 11, 2025, ProStocks has fully implemented the valid UPI system across all UPI-based client fund transfers.

We are proud to be among the first stock brokers in India to adopt this framework for all clients. This ensures that UPI payments you make towards ProStocks are routed only to verified bank accounts of SEBI-registered intermediaries.

3. What is my personal ProStocks valid UPI handle and how is it structured?

For all fund transfers to ProStocks, you must now use your personal valid UPI handle:

PROSTOCKS.XXXXX.BRK@VALIDHDFC
Replace XXXXX with your ProStocks client code.

Structure of your UPI ID

Username: PROSTOCKS.XXXXX.BRK
“BRK” clearly indicates that this ID belongs to a broker.
Handle: @VALIDHDFC
UPI IDs with the @valid handle are exclusively designated for payment collection by SEBI-registered intermediaries under merchant category code 6211.

Examples

Client Code	valid UPI Handle
A9123	PROSTOCKS.A9123.BRK@VALIDHDFC
P9876	PROSTOCKS.P9876.BRK@VALIDHDFC

This UPI handle is unique to you, validated under SEBI’s framework and issued through HDFC Bank specifically for fund collection by ProStocks.

4. How can I verify my UPI ID using SEBI Check?

SEBI has provided an official verification tool called “SEBI Check” for investors to validate UPI IDs and bank accounts of registered intermediaries.

SEBI Check Portal – UPI Verification

Visit the official SEBI Check portal here:
https://siportal.sebi.gov.in/intermediary/sebi-check

Step-by-step: Verify Your ProStocks valid UPI ID

Open the SEBI Check link in your browser.
On the homepage, select “Verify UPI ID”.
Enter below mentioned valid UPI ID:
PROSTOCKS.BRK@VALIDHDFC
Click Submit / Check.
The system will confirm whether the UPI ID belongs to a SEBI-registered intermediary, giving you independent confirmation before you pay.

This simple verification step ensures 100% safe and authentic transactions with your broker.

5. How do I use my ProStocks valid UPI handle in UPI apps?

You can use your ProStocks valid UPI handle from any popular UPI app such as Google Pay, PhonePe, Paytm, BHIM and others.

Step-by-Step to Pay Using valid UPI

Open your preferred UPI app on your mobile device.
Select “Pay via UPI ID” or the closest equivalent option.
Enter your ProStocks UPI ID exactly as:
PROSTOCKS.XXXXX.BRK@VALIDHDFC
Confirm that the beneficiary name displayed is ProStocks.
If your app displays a validUPI or similar security indicator, verify it visually.
Enter the amount and complete the payment as usual.

Always double-check the UPI ID before approving the transaction. Even a single character error can result in payment failure or routing to a different beneficiary.

6. Why does SEBI valid UPI matter for investors?

SEBI’s valid UPI framework is a major step forward in safeguarding investor payments in India. For ProStocks clients, it brings multiple benefits:

Prevents fraud and fake UPI handles by enforcing standardized, verified IDs.
Ensures money goes directly to ProStocks’ verified account via your broker-tagged UPI ID.
Eliminates impersonation risk where someone might mimic a broker’s name or UPI ID.
Enhances safety using SEBI’s secure verification system (SEBI Check portal).
Brings transparency and trust to all UPI-based investing and fund transfers.

7. What are the key do's and don'ts when using valid UPI?

Do’s

Update your records with your ProStocks valid UPI handle immediately.
Use only your personalized UPI ID for payments to ProStocks:
PROSTOCKS.XXXXX.BRK@VALIDHDFC
Use SEBI Check whenever you want to confirm the authenticity of a UPI ID.
Confirm that the beneficiary name is ProStocks before proceeding.

Don’ts

Do not make payments to any earlier / old UPI IDs previously used for ProStocks payments.
Do not approve a payment if the UPI ID is even slightly different from:
PROSTOCKS.XXXXX.BRK@VALIDHDFC
Do not rely only on screenshots or forwarded UPI IDs without verifying them yourself using the SEBI Check portal.

8. How can I get help from ProStocks if I have queries?

If you have any questions about SEBI’s valid UPI system, your personalized UPI handle, or how to verify and use it, our support team will be happy to help.

Email: [email protected]
Phone: +91-22-62434343

As a leading Mumbai-based stock broker, ProStocks is committed to adopting every SEBI innovation that strengthens investor protection, payment safety and transparency. With valid UPI, we are proud to take another major step in ensuring safe, secure, and transparent fund transfers.

Tags: Notice Board - Important Announcement

Comment (0) Hits: 3936

Page 1 of 9

What is India VIX?

Recent Movement in India VIX

How to Interpret India VIX Levels

What VIX Is Signalling Right Now

What Should Investors Do?

Key Takeaways

In simple words

Why this matters

What is the Closing Auction Session?

Which shares will this apply to first?

How will the reference price be decided?

If there are trades between 3:00 PM and 3:15 PM

If there are no trades in that period

What is the price range allowed during CAS?

Which orders are allowed during CAS?

Allowed order types

Order types not allowed

How will the final closing price be determined?

If an equilibrium price is discovered

If no equilibrium price is discovered

What kind of information may be visible during CAS?

What should clients keep in mind?

The closing price may work differently now

Be careful near market close

Only certain order types are accepted

This is intended to improve fairness

Frequently Asked Questions

Important Note for Clients

This Was Not a Broker Cancellation

What RTCM Actually Monitors

Why Deep OTM Strikes Can Trigger It

Does This Imply Manipulation?

The Larger Lesson

Capital Gains Tax for France Resident NRIs

Dividend Taxation for France Resident NRIs

How Double Taxation is Avoided

Conclusion

Questions – Click to View Answers

Structure of your UPI ID

Examples

SEBI Check Portal – UPI Verification

Step-by-step: Verify Your ProStocks valid UPI ID

Step-by-Step to Pay Using valid UPI

Do’s

Don’ts

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