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Power of Stoch RSI indicator in RANGE BOUND Market.

NIFTY: 9576.95 (value at 3:29:59 PM), Settled Value: 9588.05
Power of Stoch RSI indicator along with Pearson's Regression Channel in RANGE BOUND Market.
The Stochastics RSI indicator is used in technical analysis and provides a Stochastic Calculation of the RSI (Relative Strength Index)
which is another momentum based Lead indicator. The main difference here being that,
the Stoch RSI measures the RSI, relative to its RSI’s high and low range over the specified period of time.

It is important to remember that the Stoch RSI is an Indicator of an Indicator making it two steps away from price.
RSI is one step away from price and therefore a stochastic calculation of the RSI is two steps away.
This is important because as with any indicator that is multiple steps away from price,
Stoch RSI can have brief disconnects from actual price movement.
That being said, as a range bound indicator,
the Stoch RSI's primary function is identifying crossovers as well as overbought and oversold conditions.

RSI indicator & Stochastic Oscillator is based on PRICE (CLOSE). But Stochastic RSI is based on RSI.

Intraday Res: 9604, 9615, 9643, Weekly Res.: 9616, 9640 - 9658 (HZ), 9703 (NIFTY SPOT Value)
IN CHART: "Intraday Res" wrongly published As "95004......"
Intraday Sup: 9556, 9538, 9509. Weekly Sup.: 9538, 9515 - 9497 (BZ), 9450 (NIFTY SPOT Value)
"HZ" & "BZ" => Trend Finding Zone, (Either REVERSAL or Continuation to another Magnitude)

ICHIMOKU analysis: In Last Week Trading Between Tenkan-Sen (9635.05) & Kijun-Sen (9525.47) line & Above CLOUD High Band (9311.59).
any crossover confirm Breakout of "PEARSON's Channel" in either Side.
Volatility: Annual volatility Increased (Weekly Chart).
Short term trend LONG.

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Disclaimer: Only For STUDY. For taking Trade Decision Consult Financial Advisor.