Nifty and Banknifty is in positional buy mode since 22nd April and currently the support zone comes around 6736 and 12820 respectively. Reverse your position to positional shorts if the support zone breaks on the hourly charts.
India VIX Hourly Charts
India VIX still trades just above 30 levels and supports currently coming near to 29.31 VIX trend could turn down if the support zone breaks on the hourly charts.
India VIX during 2009 Elections
Also check out the below charts which shows how India vix peformed during last elections. And it is again expected that VIX will shoot up till the end of 2014 election results.
Nifty Open Intrest Lookup
So far rigtht from the start of the series there is no significant call or put writing happening as there is not significant amount of open interest built up so far. Currently 6500PE and 7000CE shows a little amount of higher open interest which indicates a possible naked longs open interest due to election expectations.