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In the current market environment with elevated India VIX at 18.58 and declining GIFT Nifty, effective risk management becomes paramount for successful intraday trading. The combination of global weakness and rising volatility creates conditions where traditional risk parameters may prove insufficient, requiring traders to adopt enhanced protective measures. Position sizing should be significantly reduced from normal levels, with traders limiting exposure to no more than 1-2% of capital per trade instead of the usual 2-3%. This conservative approach accounts for the increased uncertainty reflected in the VIX spike and potential for gap moves suggested by weak global cues. Stop-loss levels should be widened to accommodate higher volatility - for option buying strategies, consider 40-60% stops instead of the typical 30-50%, while option selling strategies should implement stops at 1.5-2x premium received rather than the standard 2-3x multiple. Time-based risk management becomes crucial in volatile conditions. Traders should avoid holding positions beyond 2:30 PM unless they show clear profitability, as the final hour often sees increased volatility and unpredictable moves. Additionally, any strategy showing a loss of more than 25% within the first hour should be evaluated for early exit, as adverse early moves often signal that the market thesis was incorrect. Diversification across different strike prices and strategies can help manage volatility risk, but traders should avoid the temptation to increase positions to compensate for smaller individual trade sizes. Maintaining adequate cash reserves for potential adjustments or hedging becomes essential, and traders should have clear contingency plans for scenarios where GIFT Nifty breaks below 24,900 or above 25,100, as these levels could trigger accelerated moves in either direction.