New Delhi, March 25 -- As per the current scenario, the Indian equity market is following global developments, as there is no sign of calmness. We are witnessing sharp macro triggers and continuous news flow. After the recent correction, markets are trading near oversold territory (Nifty weekly RSI at 29 and daily RSI at 33).

This is making the market more sensitive to both positive and negative developments. As a result, we are witnessing wild intraday moves, and India VIX is trading at 24.7. Based on this, intraday volatility is around 1.5%, which, with Nifty currently near 23,000, creates an intraday range of almost 700 points.

Key factors such as Brent crude oil, which is trading around $98, and FII outflows are playing a decisive r...