India VIX heading for Breakout ??

In this daily NIFTY FUT chart with VIX, as we know there is inverse relationship.Vix is near top of range (24 Sept 2010-high 24.68).Looking at chart and trying to get possible  move based on VIX..from 24sept 10 NF made new lows and closed down for nearly 3 consecutive days , however VIX was moving down.But this time VIX is not showing any signs of coming down, so are we heading for VIX breakout- expect NF to go much down.Lets see if it gives BO or remains in Rectangle. Till then Observing  VIX will help.
NF closing below 5840-50 level for nearly 3days now ( except yesterday) ,does it indicate some more downside.Breakdown of 5700-10 level will lead to bigger fall.
As today we have inside day n lower volumes as compared to yesterday, so lets see what market has in mind ..either breakdown or reversal ??
On Options Open interest front Calls adding Hugh OI
5700 CE = 28%
5800 CE = 33%
and 5800 PE = - 7%
       5900 PE = - 13%, & 5700 = 9% ( OI added )
So 5700 Level needs to hold for any upside, else markets heading for big fall.