High volatility is supposed to be indicative of Major tops and Bottoms. With Nifty having seen one of the best rallies since 2009, a lot of bears seem to latch on to the current increased volatility as a sign of a major top in the offing.
But are we seeing higher volatility (or range in the day) than what we saw in 2007? The answer is in the chart below
As they say, a picture says a thousand words :).