Page |1

A
SUMMER TRAINING REPORT
ON
TRADING ON CURRENCY IN SWASTIKA INVESTMART LTD.

IN THE PARTIAL FULFILLMENT FOR THE AWARD
OF
BACHELOR OF BUSINESS ADMINISTRATION
(2012-15)

SUBMITTED BY:
ABHAY SETH
1259051102
B.B.A

Page |2

CONTENTS
INDEX
ACKNOWLEDEMENT
DECLARATION
EXECUTIVE SUMMARY
INTRODUCTION
OBJECTIVE
INVESTORS EXPECTATIONS
VISION AND MISSON
COMPANY PROFILE
CURRENT ACTIVITIES OF SWASTIKA
STRENGETH OF SWASTIKA
PROPOSED ACTIVITIES OF SWASITIKA
ADVANTAGE OF SWASTIKA
ABOUT THE MANAGEMENT
MILESTONES
JOIN US TO PURSUE A PROGRESSIVE CAREER
MAJOR STOCK EXCHANGE IN INDIA
BOMBAY STOCK EXCHANGE
MAJOR PLAYER IN MARKET
COMPETITION ADVANTAGE
CURRENCY
CURRENCY TRADING BASICS
ADVANTAGE OF CURRENCY TRADING
OFFERING
FOREIGN EXCHANGE MARKET FOR BEGINNERS
TOP 7 QUESTION ABOUT CUREENCY
HOW DOES FOREX DIFFER FROM OTHER MARKET?
WHERE IS THE COMMISSION IN FOREX TRADING?
WHAT IS A PIP?
WHAT ARE YOU REALLY SELLING OR BUYING IN THE
CURREENCY MARKET?
WHICH CURRENCIES ARE TRADED IN FOREX MARKET?
WHAT IS A CURRENCY CARRY TRADE?
INTRODUCTION OF FOREIGN EXCHANGE FOREX MARKET
HOW FOREX IS UNIQUE
MAKING AND LOSING MONEY
BUYING AND SELLING

PAGE NUMBER
4
5
6
8&9
10
11
12&13
14&15
16
17
18
19
20&23
24
25
26
27&28
29&32
33
34
35&36
37
38
39&40
41
42
43
44
44
45
45
46&47
48
49
50

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CURRENCY QUOTES
MOST TRADED PAIRS
BROKERS
TAXES AND BROKRAGE CHARGES
WHAT MOVE A CURRENCY
LEARN FOREX TRADING
FOREX BASIC:WHITE BELT
FUNDAMENTAL TRADING:YELLOW BELT
TECHNICAL TRADING:GREEN BELT
TACTICAL TRADING:BLUE BELT
BROKER AND TOOL:BROWN BELT
STRATEGY AND NEW:BLACK BELT
INTRODUCTION OF ONLINE AND OFFLINE TRADING
INTRODUCTION OF ODIN TRADING SOFTWARE
BIBLOGRAPHY

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55
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60&62
63&65
66

It‟s been an amazing experience working under her.VIJAY BANSAL . zonal head (Z. f o r p r o v i d i n g e n o u g h k n o w l e d g e a n d m a k i n g u s acquainted with the job of client servicing. SHEKHER GEHLAWAT . ABHAY SETH .H) SWASTIKA INVESTMART LTD.Page |4 ACKNOWLEDGEMENT It has been a great pleasure having gone through as a trainee in SWASTIKA INVESTM ART LTD . I as a trainee got to learn a lot as I had an opportunity to work with people who are extremely profound. It would not be fair enough at all if I would not thank Mr. I w o u l d l i k e t o e x p r e s s m y g r a t i t u d e t o Mr. f o r g i v i n g a n o p p o r t u n i t y t o e l o n g a t e m y k n o w l e d g e a n d p r o v i d i n g m e a pragmatic experience. Last but not the least I would like to thanks each and every member of the SWASTIKA INVESTMART LTD for being so cooperative and helpful. Assistant branch Manager (ABM) SWASTIKA INVESTM ART LTD. which is India‟s well known and starkly established retail brokerage firm.

-: 1259051102 Name of the guide-: MR.Page |5 DECLARATION This is to certify that report entitled “Trading On Currency in Sawstika Investmart Limited” which is submitted by me in partial fulfillment of the requirement for the award of “Post graduate diploma in management “ in S.R Collage Of Professional Studies. Jhansi comprises only my original work and due acknowledgement has been made in the text to all other material used.VIJAY BANSAL Date: 22/07/2014 . Name-: ABHAY SETH Roll no.

Page |6 CHAPTER .I EXECUTIVE SUMMARY .

ownership patterns. The project focuses on the dematerialization and stock trading services provided by SWASTIKA. Company is a Member of National Stock Exchange as well as Bombay Stock Exchange. . Its strategies for marketing its services as well as developing a good Relationship Marketing with its client has given an edge over the other service providers Swastika is on expansion path and is looking forward to be in the top. The project also includes the services industry in which SWASTIKA plays an important role. history of the company. divisions and branches and different departments in the organization are also mentioned. Swastika is slowly but steadily gaining market share and goodwill in the Market. Swastika Investmart Limited Provide its Expert service in Capital market Operations to institutional Investors. The project provides an overall view on the financial standing of the company.Page |7 EXECUTIVE SUMMARY This project provides an insight into the financial service industry of which insurance. products offered and services provided the competitors in the industry and the competitive edge of SAWSTIKA to have a distinctive position in the industry. stocks and mutual funds form an integral part. The organization structure.

Page |8 CHAPTER – II INTRODUCTION .

the delivery of services that exceed customer expectations is one strategy that can give firms a competitive advantage. Providing quality service and hence customer satisfaction should thus be recognised as a key strategy and a crucial element of long-run success and profitability for stock broking businesses. it would seem beneficial for stockbrokerage firms. Little has been done towards understanding the expectations investors hold from their stockbrokers. Since expectations serve as benchmark to gauge the service level of brokers. Investors would not hesitate to switch to alternative brokerage houses if they do not obtain satisfaction.Page |9 INTRODUCTION The stock broking industry is a service-oriented industry where brokers act as agents for investors when a security is bought or sold and are compensated with a commission. to provide service at a good scale of quality. Therefore. in a dynamic economic environment like India. .

To accompany the relationship manager on his visit to the prospective clients.P a g e | 10 OBJECTIVES To create awareness among the people about the different products offered by the company in the market through telecalling. To generate leads for endorsement of deals. To open demat accounts. canopies etc. To understand the operating terminal of Equity. To acquaint myself with work culture. To learn how to work in a team. . To learn the trading procedure of equity market.

Proper availability of RM‟s to attend to clients requests so as to minimize delays in order reacceptance and minimizing customer dissatisfaction. timely payments and receipts. Updated info about client accounts on amounts outstanding. dematerialised shares etc. Cordial relation with clients should be maintained so as to promote goodwill and business of the broker. withdrawals. . clean facility and a clean working environment. direct transfers. Ancillary services like providing payout facilities. confirmations about order receiptance and delivery of stocks. shortages etc if any. Timely input (tips. Providing an averagely priced product so as to appeal to the investors and have a penetration effect in the market. water and other refreshments. Infrastructure facilities like proper sitting arrangements. entry and exist) to be provided to prospective clients so that they can maximize their wealth by making smart decisions.P a g e | 11 INVESTORS EXPECTATIONS Providing basic knowledge to investors so as to help them in understanding the stock market and making proper decisions in stocks. payment. cheques.

P a g e | 12 VISION & MISSION .

FIs.  Providing investment solutions based on quality and unbiased research. best trading and investment strategies and state-of-the-art technologies. Mutual Fund business. & Insurance Companies. Merchant Banking Services. MISSION        Institutional Broking – Empanelment with Banks. We at Swastika believe that 'Our services combined with our investors' trust will lead to a prosperous Swastika family" We are committed for :  Integrity and transparency in all transactions.  Providing personalized services to all investors and business associates. Registrar & Transfer Agents Services.P a g e | 13 VISION "To be a prominent destination to enhance the Prosperity of it‟s Clients. Investors. Associates and Employees. Dealing in Forex. innovative products. Equity Placement & Venture Capital Funding. always" "To provide best value for money to clients through personalised service.  Achieving success through client‟s growth . Financing & Loans Syndication. .

P a g e | 14 COMPANY PROFILE .

aggregating Rs.P a g e | 15 Swastika Investmart Ltd.P.150 Lacs. Ltd. (Formerly known as Swastika Fin-Lease Ltd. In year 2010.). NSDL Depository added in the Company Portfolio. It has also got the corporate membership of Currency Derivatives with NSE and MCX-SX in the year 2008. The shares of company are listed on BSE and is one of the few listed companies. . Company has also taken Member ship of USE & ICEX. engaged in diversified business since 1959. it got registered with CDSL in 2006 as Depository Participant as well.each for cash at par. Since incorporation till 1998.10/. was incorporated in 1992 with its Registered Office in Mumbai and Administrative office at Indore (M. a Public Limited Company. In 2009 company has started the services of Portfolio Management Services after being Registered with the SEBI for the same. It was promoted by Mr. In the year 1995 the company came out with a Public issue of 15 Lac equity shares of Rs. It started the stock broking business as a sub-broker in the year 1998 and after getting the experience and with the blessings of its satisfied customers. the company was actively involved in the field of Hire Purchase and Lease Finance. Sunil Nyati belonging to the Swastika group of Rajasthan. engaged in Stock broking and Capital Markets activities.). Later. after having more than 20.000 clients in CDSL. In the year 2007 the company has acquired membership of two premier Commodity Exchanges of India. it took the Corporate Membership of NSE in 2000 and BSE in 2004. NCDEX and MCX through its wholly owned subsidiary company Swastika Commodity Pvt.

Commodity Trading – NCDEX & MCX. Mutual Funds And Fixed Deposits Investments. Currency Broking – NSE & MCX-SX & USE . Technical Analysis and Research based advice. Initial Public Offering ( IPO) And IPO Financing.P a g e | 16 CURRENT ACTIVITIES OF SWASTIKA Stock broking – NSE & BSE – Equities & Derivatives. Portfolio Management & Investment Advisory Services. Internet Based Trading. . Depository Services – NSDL & CDSL. ICEX & NCDEX SPOT Exchange.Currency Derivatives.

Annual turnover in Commodity (NCDEX & MCX): More than Rs. 50. 12000 Crores. Strong team for Fundamental Equity Analysis & Research. Company Listed at BSE since 1995. Depository Participants of NSDL & CDSL 24 * 7 Web Base Back Office Software Own Private VSAT Net Work 30 Own Branches Business Partners and Sub Brokers – More than 500 CTCL Net Work – More than 1000 Odin Licenses More than 40000+ Registered Clients (Individual & Corporate). Annual turnover in Currency (NSE & MCX-SX): More than Rs. Team for Derivative strategies trading.  . ICEX & USE Internet & Mobile Based Trading Platform.000 Crores. In House Technical Analysis & Research team. 60000 Crores. BSE.P a g e | 17 STRENGTHS OF SWASTIKA Corporate Membership of NSE. NCDEX & MCX-SX. Annual turnover in C M & F&O (NSE & BSE): More than Rs.

Registrar & Transfer Agents Services.P a g e | 18 PROPOSED ACTIVITIES OF SWASTIKA Institutional Broking – Empanelment with Banks. Dealing in Forex. Equity Placement & Venture Capital Funding. Merchant Banking Services. Financial Institutions and FIIs. Financing & Loans Syndication Insurance Broking .

One can buy stock in one exchange and sell in another and get arbitrage opportunities. we understand the needs of our clients and our business partners very well. providing direct access to all Branches. Integrated and transparent services We value integrity and transparency in client‟s transactions and provide the best value for money to our clients. deliveries adjustments. Wide range of Services We are offering Stock. Business associates and clients to complete account related information. Technical and Derivative Strategies analysts. Investment Advisory Services.P a g e | 19 ADVANTAGE OF SWASTIKA Started from Zero Our biggest strength is that we started our stock broking business from level zero. no hassle of account transfers. Depository Services. anytime-anywhere. . Our dedicated relationship managers are trained to provide excellent services and complete satisfaction to all their clients . Accurate and timely research We are always endeavored to provide timely research based advice to our clients. Commodities and Currencies broking. IPO & Mutual Fund Distribution etc. PMS. as a Sub broker and later took trading memberships. 24*7 Online Back Office Software Web-enabled centralized 24*7 back office software. Our research team comprises of experienced Fundamental. absolutely hassle-free. Hence. All services under one umbrella All the memberships are in one Company name.

He always innovates new ideas. His values of integrity and transparency have been inculcated in all the employees.P a g e | 20 ABOUT THE MANAGEMENT Swastika is managed by a team of 200+ experienced and qualified professionals across all the levels of management. Managing - Director Swastika has been on a growth path under his able leadership and rich experience. He has been our guide all throughout success path of Swastika. The company was promoted by Mr. . Sunil Nyati KEY PERSONNEL Mr Sunil Nyati. adapts latest technology so as to provide quality and unbiased investment solutions to the investors. He is a science graduate. having more than 15 years of experience in capital markets.

He has played a key role in establishment of regional offices in Jaipur and Delhi for establishment of branch network across Rajasthan. He is also developing the Merchant Banking and Private Equity placement business of the company. UP and Hariyana. . Vinod Gupta - Director A chartered accountant having overall 12 years experience in financial services and 6 years of experience in the Merchant Banking Industry. He is with the organisation since 1996 and is instrumental in setting up Company's business in Rajasthan and managing portfolio of High net worth individuals of his region. Mr.P a g e | 21 Mr. He currently heads business development and marketing for the company for North region. Anil Nyati – Director A commerce graduate having 20 years of experience in business development and marketing.

Global Project handling. Vijay Kumar Chowdhary. . Mr. Chowdhary enjoy around 40 years of experience in the various fields like Marketing.. Ranbaxy Laboratories.P. She has over 20 years experience in accounting and capital market research. Kinetic Honda Motors Ltd. Administration. Anita Nyati. Mr. Supply Chain Management. Anita Nyati has been with Swastika Investmart Ltd for 15 years and has served as capital market consultant and accounts advisor. Her academic qualifications include Bachelor in Commerce and NCFM Certification in Capital Market and Derivatives Modules.. Director Mrs.P a g e | 22 Mrs. Kinetic Engineering & Mahindra Two Wheelers Ltd. these functional responsibilities were managed on a Senior position in a leading groups of India like U. Vijay Kumar Chowdhary with us as a Director Marketing to take care of all the Marketing and Sales Function of the Swastika Investmart Limited. Steels Ltd. Steel Tubes of India Ltd. Director – Marketing Mr.

Vinit Rathi. Vice President . derivatives market and other financial services and development of Franchises and Sub broker network. He is with the organisation since 2005 and his administrative and technical skills help us to continuously improve our operations and provide excellent services to all our Channel Partners.P a g e | 23 Mr. .Marketing An MBA with good experience in marketing for distribution of shares.

P a g e | 24

MILESTONES
1992 : Incorporation with registered Office at Mumbai.
1993 : Actively involved in financing. Hire-purchase and leasing business.
1995 : Came out with an initial Public Issue, Listed at Bombay Stock
Exchange.
1998 : Registered with RBI as NBFC,
2000 : Membership of NSE - Capital Market Division.
2002 : Membership of NSE - Future & Option Segment.
2003 : Setting up Research Desk and Mutual Fund Desk.
2004 : Membership of BSE - Capital Market Division
2005 : Centralised Back Office Software successfully implemented.
2006 : Registered with CDSL as Depository Participants.
2007 : Membership of NCDEX & MCX.
2008 : Membership of Currencies Derivatives of NSE and MCX-SX.
2009 : Starting of SEBI Registered Portfolio Management Services.
2010: Starting of NSDL Services, Membership of USE & ICEX.
2011: Starting of NCDEX Spot Exchange.

P a g e | 25

JOIN US TO PURSUE A PROGRESSIVE
CAREER
BRANCH MANAGER
MERCHANT BANKING
URGENT OPENING FOR WEB DESIGNER
OPEN FOR ONLINE BIDDING EXCUTIVE
CUSTOMER SERVICE EXECUTIVE
FUNDAMENTAL ANALYAT
ONLINE MARKETING MANAGER
BRANCH MANAGER
EXECUTIVE-BACK OFFICE
BUSINESS DEVELOPMENT OFFICER-SIFMR
TECHNICAL ANALYAT CFA
SYSTEM NETWORK ENGINEER
BUSINESS DEVELOPMENT EXECTIVE
REGIONAL BRANCH HEAD
FRANCHIEE MANAGER
COMMODITY TECHINAL ANALYAT
TELECALLER
RECEPTIONST

P a g e | 26

MAJOR STOCK EXCHANGES IN INDIA

NSE was incorporated in 1992 and was given recognition as a stock exchange in April 1993. It
started operations in June 1994, with trading on the Wholesale Debt Market Segment.
Subsequently it launched the Capital Market Segment in November 1994 as a trading platform for
equities and the Futures and Options Segment in June 2000 for various derivative instruments.
NSE has been able to take the stock market to the doorsteps of the investors. The technology has
been harnessed to deliver the services to the investors across the country at the cheapest
possible cost. It provides a nation-wide, screen-based, automated trading system, with a high
degree of transparency and equal access to investors irrespective of geographical location. The
high level of information dissemination through on-line system has helped in integrating retail
investors on a nation-wide basis. The standards set by the exchange in terms of market practices,
Products, technology and service standards have become industry benchmarks and are being
replicated by other market participants. Within a very short span of time, NSE has been able to
achieve all the objectives for which it was set up. It has been playing a leading role as a change
agent in transforming the Indian Capital Markets to its present form. The Indian Capital Markets
are a far cry from what they used to be a decade ago in terms of market practices, infrastructure,
technology, risk management, learing and settlement and investor service.

000crores at end of July 2005. 5.These factors necessitated compilation of a new broad-based index series reflecting the present market trends in a more effective manner and providing a better representation of the increased equity stocks. 00. the Exchange constructed and launched on 27th May 1994. Coverage: The equity shares of 200 selected companies from the specified and non-specified lists of this Exchange have been considered for inclusion in the sample for `BSE- .P a g e | 27 BOMBAY STOCK EXCHANGE Background: The BSE Sensitive Index (1978-79=100) has. 18.421 crores to around Rs. market capitalization as also the newly emerged industry groups. been serving the purpose of quantifying the price movements as also reflecting the sensitivity of the market The number of companies listed on the in Bombay an effective Stock manner. to a considerable extent. Towards this end. Exchange has registered a phenomenal increase from 992 in the year 1980 to about 4800 companies by the end of July 2005 and their combined market capitalization rose from Rs. two index series viz. the BSE-200 and the DOLLEX.

The selection of companies has primarily been done on the basis of current market capitalization of the listed scripts on the exchange.P a g e | 28 200'. . Besides market capitalization. the market activity of the companies as reflected by the volumes of turnover and certain fundamental factors were considered for the final selection of the 200 companies.

com Sharekhan Kotak securities Indiabulls HDFC Securities Karvy Angel broking India Infoline ltd. .P a g e | 29 MAJOR PLAYERS IN MARKET ICICI Direct.

529 outlets serving 950. Products and services Investing in mutual funds Personal finance Computer services features IPO‟s Margin trading Margin plus trading Call trading Trading on NSE/BSE Sharekhan is India‟s leading online retail broking house. It also has international presence through its branches in the UAE and Oman. insurance and structured products. Sharekhan has today a pan-India presence with over 1. futures &options.P a g e | 30 ICICI Web Trade Limited (IWTL) maintains www. trade execution in equities.000 customers across 450 cities. commodities. 2000 as an online trading portal. Sharekhan offers services like portfolio management.com (hereinafter referred to as website) where as IWTL is an affiliate of ICICI bank limited and the website is owned by ICICI bank limited. . IWTL has launched and established an online trading service on the website.icicidirect. and distribution of mutual funds. Launched on February 8.

equity research services. Indiabulls Securities (ISL) is one of India's leading capital markets companies providing securities broking and advisory services. Retail (equities and other financial products). Real Estate and Infrastructure. Indiabulls Group companies are listed in Indian and overseas financial markets. Indiabulls Securities is a pioneer of on-line securities trading in India. is the stock broking and distribution arm of the Kotak Mahindra Group. The company through various types of brokerage accounts provides product and services related to purchase and sale of securities listed in NSE and BSE.P a g e | 31 Kotak Securities Limited.000 Crore. Indiabulls Securities Limited (ISL) is the pioneer in Retail Broking Industry having a pan India presence and providing services to a customer base exceeding half a million. Indiabulls Group is one of the country's leading business houses with business interests in Power. equity research services and IPO distribution to its clients and offers commodities trading through a separate company. The company was set up in 1994. ISL is the first and only brokerage house to be assigned the highest ratingBQ-1 by CRISIL. Indiabulls Securities also provides depository services. Financial Services.including private and secondary placement of debt and equity and mutual funds. . The Net worth of the Group is Rs 16. It also provides depository services. and IPO distribution to its clients. Kotak Securities is one of the largest broking houses in Indiaw i t h w i d e g e o g r a p h i c a l r e a c h . Its operations include stock broking and distribution of various financial products . a subsidiary of Kotak Mahindra Bank.844 Crore and the total planned capital expenditure of the Group by 2013-14 is Rs 35. Kotak Securities is a corporate member of both The Bombay Stock Exchange and The National Stock Exchange of India Limited. mutual fund. Portfolio Management and Depository Services. Currently. T h e c o m p a n y h a s f o u r m a i n a r e as of business: Institutional Equities.

BSE . Stock market. Products offered-: Online trading for Resident & Non-resident Indians. Day Trading on both NSE and BSE. And is the stock broking arm of Indiainfoline. The present websites contain features of services that they offer in due course.com ltd. Trade in Futures and Options on NSE.com Securities Pvt.HDFC securities would have an exclusive discretion to decide the customers who would be entitled to it‟s online investment services. www.it provides services in stock and commodity trading (through internet) . NSE. It also serves the right to decide on the criteria based on which customers will be chosen to participate in these services. Ltd.it deals in mutual funds and insurance.IISPL deals in stock market by trading in equity and derivatives.com.P a g e | 32 HDFC Securities are the subsidiary of (Housing development finance corporation) . Other trading.5paise. IILSPL has applied for trading membership of the BSE under securities and exchange board of India (stock brokers and sub brokers) rules 1992. Indiainfoline. The launch of new services in subjected to the clearance of the regulators i. Products offered by India Infoline Securities Pvt. Telephone based broking (Equity and commodity).com is a focused website of online stock group.e SEBI. Ltd. Cash & carry on both NSE and BSE. Online IPO‟s. Personal finance. The subsidiary was formed to comply with regulatory guidelines. Is a wholly owned subsidiary of Indiainfoline.

Feature rich software. Call centre support provided for trading.P a g e | 33 COMPETITIVE ADVANTAGE Flexi brokerage and exposure. back office and IT support. Fully automated processes.Mass market. USP Interest on cash margin deposited. Target group. . Interest on cash margin deposited with Religare. Better quality product at competitive brokerage.

and political stability. Any of these factors. This is known as central bank intervention. They do this either by flooding the market with their domestic currency in an attempt to lower the price or. Swastika extends the opportunity to benefit from this market in India. convenient and profitable platform to trade and hedge in the Currency derivatives market and diversify your investment portfolio How are currency prices determined? Currency prices are affected by a variety of economic and political conditions. Sometimes governments actually participate in the foreign exchange market to influence the value of their currencies.P a g e | 34 CURRENCY The currency market is the largest and most liquid financial market in the world with a turnover of more than $ 5 Trillion on a daily basis. buying in order to raise the price. However. international trade. the size and volume of the FOREX market make it impossible for any one entity to drive the market for any length of time. With the introduction of currency derivatives in 2008. but probably the most important are interest rates. conversely. can cause high volatility in currency prices. as well as large market orders. We offer a simple. . the Indian market is poised for growth by increasing its share in the world forex trade. inflation.

which is speculated to contain opportunity. which specializes in trading back and forth between different types of currencies.P a g e | 35 CURRENCY TRADING BASICS The foreign exchange market is the term given to the worldwide financial market which is both decentralized and over-the-counter. In recent times. this article has been presented. This market is also known as the Forex market. The foreign exchange market is the term given to the worldwide financial market which is both decentralized and over-the-counter. Failure to fully and completely understand this art prior to journeying off into this market would render a person lost in a matter of minutes. both investors and traders located all around the world have begun to notice and recognize the foreign exchange market as an area of interest. intending to explain currency trading basics thoroughly. This market is also known as the Forex market. It is also necessary to first explain what the basics are of trading foreign currency. it is important to first understand how transactions are conducted within the foreign exchange market. both investors and traders located all around the world have begun to notice and recognize the foreign exchange market as an area of interest. which is speculated to contain opportunity. just where they would never expect it. In recent times. before considering treading these waters. . which specializes in trading back and forth between different types of currencies. However. Thus.

P a g e | 36 .

P a g e | 37 ADVANTAGE OF CURRENCY TRADING Accessible to small traders The minimum size of the USDINR futures contract is USD 1.000. Similarly EURINR future contract is EURO 1000. As the profits or losses in the futures market are also paid / collected on a daily basis. the scope of accumulation of losses for participants gets limited. .000. Lower taxation ( No Securities Transaction Tax). Opportunity to Hedge foreign currency exposure risk. thus providing convenience to the investors. Currency Futures are cash settled. GBPINR future contract is GBP 1000 and JPYINR future contract is YEN 1. Highly Safe . No Middlemen :Allows clients to interact directly on the exchange platform. Currency Trading has no insider trading risk due to the large size of the forex market and its decentralized nature. Minimal Cost: Low Brokerage. Lower margins and Higher Leverage.Governed by both the SEBI and RBI. These are well within the reach of most small traders.00.

Technologically advanced trading platform and service dissemination Research calls for all currency pairs: USDINR.P a g e | 38 OFFERING Access to NSE Currency Futures segment. EURINR. MCX-SX and USE currency segments. JPYINR Competitive Brokerage Schemes Personalized service to time entry and exit points Daily Fundamental and technical Research Reports . GBPINR.

. five days a week.P a g e | 39 FOREIGN EXCHANGE MARKET FOR BEGINNERS The foreign exchange market or forex market as it is often called is the market in which currencies are traded. the base currency is being bought. GBP/USD. The currency pair shows how much of the counter currency is needed to purchase one unit of the base currency. The first currency of a currency pair is called the “base currency. and are able to pass that on to their clients. There are four major currency pairs that are traded most often in the foreign exchange market. The opposite is true. but instead the trading is conducted over-the-counter. USD/JPY. but it is also the most liquid. When purchasing a currency pair. Typically. this decentralization of the market allows traders to choose from a number of different dealers to make trades with and allows for comparison of prices. All trades that take place in the foreign exchange market involve the buying of one currency and the selling of another currency simultaneously. and USD/CHF. Currency Trading is the world‟s largest market consisting of almost trillion in daily volume and as investors learn more and become more interested. the market continues to rapidly grow.” while the second currency is called the counter currency. In addition. Currency pairs can be thought of as a single unit that can be bought or sold.Learn more about currency trading online. with currencies being traded around the world in all of the major financial centers. The spot currency market is open twenty-four hours a day. while the counter currency is being sold. differentiating it from the other markets. the larger a dealer is the better access they have to pricing at the largest banks in the world. when the sale of a currency pair takes place. Unlike the stock market. there is no central marketplace for the exchange of currency. This is because the value of one currency is determined by its comparison to another currency. Not only is the forex market the largest market in the world. These include the EUR/USD.

P a g e | 40 Forex Capital Markets (FXCM) is an online currency trading firm that offers a free demo account to traders who are new and interested in the foreign exchange market. The demo account is an excellent way to experiment with the foreign exchange market while learning your way around the trading platform. Information about trading and specifically about how to use the online trading platform can be found on the FXCM webpage. These “educational webinars. Registering for a demo account allows a new trader to download the online trading platform that is used by the company‟s clients trading live accounts and make trades as if they were doing it with real money. FXCM offers FREE interactive online seminars that are extremely useful to both new and experienced currency traders. .” as they are called are run by experienced financial strategists and range in topics from trading specific news events to trading the Euro. tracking the time and dates of placed trades. It also allows the placing of stop and limit orders on trades. deciding how long to stay in the trade. FXCM also offers numerous online courses that teach investors how to trade the currency market. It allows you to experience every step of currency trading including choosing currency pairs. and when to exit the trade. In addition. deciding how much risk to take. In addition to the webinars.

P a g e | 41 TOP 7 QUESTIONS ABOUT CURRENCY TRADING .

who also happens to golf with the governor of the Bank of Japan tells you on the golf course that BOJ is planning to raise rates at its next meeting. futures or options. in theory. are often leaked days before they are officially released. European economic data. in fact. you could go right ahead and buy as much yen as you like. All members trade with each other based on credit agreements. There is no uptick rule in FX as there is in stocks. There is no such thing as insider trading in FX. business in the largest. there are no clearing houses to guarantee the trades and there is no arbitration panel to adjudicate disputes. It is not controlled by any central governing body. No one will ever prosecute you for insider trading should your bet pay off. so. Think that the EUR/USD is going to spiral downward? Feel free to short the pair at will. There are also no limits on the size of your position (as there are in futures).P a g e | 42 HOW DOES THE FOREX MARKET DIFFER FROM OTHER MARKETS? Unlike stocks. such as German employment figures. most liquid market in the world depends on nothing more than a metaphorical handshake The FX market is different from other markets in some other key ways that are sure to raise eyebrows. Essentially. . currency trading does not take place on a regulated exchange. If your biggest Japanese client. you could sell $100 billion worth of currency if you had the capital to do it.

FX firms are dealers. Unlike exchange-based markets. FX is a principals-only market. the broker is paid a commission when the customer buys and sells the tradable instrument. This is a critical distinction that all investors must understand. instead. futures or options typically use a broker. the fact that traders must always overcome the bid/ask spread makes scalping much more difficult in FX. dealers assume market risk by serving as a counterparty to the investor's trade. On the other hand. They do not charge commission. Nevertheless. Unlike brokers. Every single penny gain is pure profit to the investor. not brokers. there are no additional fees or commissions. . The FX market does not have commissions.P a g e | 43 WHERE IS THE COMMISSION IN FOREX TRADING? Investors who trade stocks. they make their money through the bid-ask spread. who acts as an agent in the transaction. once the price clears the cost of the spread. the investor cannot attempt to buy on the bid or sell at the offer like in exchange-based markets. The broker takes the order to an exchange and attempts to execute it as per the customer's instructions. For providing this service. In FX.

P a g e | 44 WHAT IS A PIP? Pip stands for "percentage in point" and is the smallest increment of trade in FX. No physical exchange of currencies ever takes place. . All trades exist simply as computer entries and are netted out depending on market price.01. so. and merger and acquisition activity). in the FX market the same bar of soap would be quoted at 1. One Japanese yen is now worth approximately US$0.e. if a bar of soap in the drugstore was priced at $1. in the USD/JPY pair. In the FX market. these dayto-day corporate needs comprise only about 20% of the market volume. to 1/100th of yen. multibillion dollar hedge funds and even individuals who want to express their opinions on the economic and geopolitical events of the day. as opposed to 1/1000th with other major currencies). Fully 80% of trades in the currency market are speculative in nature. payment for costs of goods and services from foreign vendors. For dollar-denominated accounts. However. For example. for payroll. the only exception to that rule is the Japanese yen. prices are quoted to the fourth decimal point. WHAT ARE YOU REALLY SELLING OR BUYING IN THE CURRENCY MARKET? The short answer is "nothing". the quotation is only taken out to two decimal points (i. put on by large financial institutions. The retail FX market is purely a speculative market. The primary reason the FX market exists is to facilitate the exchange of one currency into another for multinational corporations that need to trade currencies continually (for example. The change in that fourth decimal point is called 1 pip and is typically equal to 1/100th of 1%. all profits or losses are calculated in dollars and recorded as such on the trader's account. Among the major currencies.20.2000.

GBP/JPY and EUR/GBP). The trader goes long the currency with a high interest rate and finances that purchase with a currency with a low interest rate. which are the four "majors": EUR/USD (euro/dollar) USD/JPY (dollar/Japanese yen) GBP/USD (British pound/dollar) USD/CHF (dollar/Swiss franc) and the three commodity pairs: AUD/USD (Australian dollar/dollar) USD/CAD (dollar/Canadian dollar) NZD/USD (New Zealand dollar/dollar) These currency pairs.P a g e | 45 WHICH CURRENCIES ARE TRADED IN THE FOREX MARKET? Although some retail dealers trade exotic currencies such as the Thai baht or the Czech koruna. along with their various combinations (such as EUR/JPY. one of the best pairings was the . account for more than 95% of all speculative trading in FX. the majority trade the seven most liquid currency pairs in the world. WHAT IS A CURRENCY CARRY TRADE? Carry is the most popular trade in the currency market. For example. Given the small number of trading instruments . These short-term interest rates are set by the central banks of these countries: the Federal Reserve in the U. the Bank of Japan in Japan and the Bank of England in the U.. in 2005. practiced by both the largest hedge funds and the smallest retail speculators.only 18 pairs and crosses are actively traded .S.K. The carry trade rests on the fact that every currency in the world has an interest rate attached to it.the FX market is far more concentrated than the stock market. The idea behind the carry is quite straightforward.

P a g e | 46 INTRODUCTION OF FOREIGN EXCHANGE FOREX MARKERT .

P a g e | 47 The foreign exchange market (forex. Trades between foreign exchange dealers can be very large. although a few insurance companies and other kinds of financial firms are involved. speculation based on the interest rate differential between two currencies. a party purchases some quantity of one currency by paying for some quantity of another currency. For example. The foreign exchange market determines the relative values of different currencies.[1] The foreign exchange market works through financial institutions. It also supports direct speculation and evaluation relative to the value of currencies. Behind the scenes banks turn to a smaller number of financial firms known as “dealers. even though its income is in United States dollars. The modern foreign exchange market began forming during the 1970s after three decades of government restrictions on foreign exchange transactions (the Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states after World War II). so this behind-the-scenes market is sometimes called the “interbank market”. involving hundreds of millions of dollars. which remained fixed as per the Bretton Woods system. FX. and it operates on several levels. Most foreign exchange dealers are banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock. it permits a business in the United States to import goods from the European Union member states. and the carry trade. and payeuros. especially Eurozone members. . or currency market) is a global decentralized market for the trading of currencies. with the exception of weekends.[2] In a typical foreign exchange transaction. The foreign exchange market assists international trade and investments by enabling currency conversion.” who are actively involved in large quantities of foreign exchange trading. when countries gradually switched to floating exchange rates from the previous exchange rate regime. The main participants in this market are the larger international banks. Forex has little (if any) supervisory entity regulating its actions.[citation needed] Because of the sovereignty issue when involving two currencies.

instantaneously. brokers make money on the difference in price you pay to buy. . Instead. like the New York Stock Exchange. It is not controlled by any central governing body.your stockpile of currency. Trade Whenever You Want: Forex markets are open 24 hours a day.P a g e | 48 HOW FOREX IS UNIQUE Fewer Rules: Unlike the trading of stocks. currencies. or the amount you receive when you sell. In fact. brokerage or clearing fees in the FX market. No Commissions: There are no exchange. The market is so large that you will never be stuck if you wanted to get rid of – or buy . currency trading does not take place on an exchange with rules. so if you are a night owl or early riser you can set your own trading schedule. you could do it! There's no limit to how much money you can buy or sell.S. and used it to make a lot of money. like they would it in the stock market. if you had exclusive information. legal issues would not arise. and there are no clearing houses to make sure the party you are buying the currency from actually pays up. futures or options. No Limit to How Much Currency You can Buy: If you had $1 billion U. dollars you wanted to sell. Easy to Get In and Out: You can buy and sell currencies with the click of a button.

S.0. Your Decision CAD USD You buy 1. dollars and you exchange that for $1000 Canadian dollars. Let's take a look at a simple example of how someone can make money from a forex transaction. When you convert back to your initial currency. you are hoping that the new currency increases in value. One week later.000 CAD at the +1000 -900 CAD/USD rate of 0. dollar.S. So you started with $900 USD.000 CAD back into U. ideally you will have more money than you started with.90 to 1. Suppose you have $900 U.S.90 A week later. the CAD/USD rises to 1. dollars Profit +100 . You could then exchange the $1000 CAD you have back into U. a profit of $100 USD. dollars and you would receive $1000 USD.00 and -1000 +1000 you exchange your 1. so the Canadian dolar which you own has increased in value compared to the U.P a g e | 49 MAKING AND LOSING MONEY How People Make or Lose Money Doing It By converting your money into a different currency.S. you now have $1000 USD. the CAD/USD exchange rate goes up from 0.

You can also think of buying currencies as buying shares in a country. and thus no physical exchange of money ever takes place. and traded in currency pairs. you are buying a currency hoping that its value will increase. Also. like the US dollar and the Canadian dollar (USD/CAD) or the US dollar and Japanese yen (USD/JPY). But unlike the stock market. . the forex market doesn't have a central exchange like the New York Stock Exchange for instance. although you are buying another country's currency. which means it's all connected together in a network of banks and institutions. You'll learn more about reading a currency quote and the economics that move currency rates in the upcoming Introduction to forex section. and if you are selling you are betting that it will decrease.P a g e | 50 BUYING AND SELLING What are you really selling or buying in the currency market? You are buying and selling money. think of money as a commodity. This can be confusing. the price of currencies is displayed in quotes in the spot market. Like any other commodity. but think of it like buying shares of a publicly traded company where everything is done electronically inside your trading account. you are betting on the success or failure of a particular country's economy. In the forex market. you are not buying anything „physical'. Instead the forex market is an interbank market.

80 euros for every US$1 you sell.S. meaning that US$1. and the second currency is called the quote currency. For example.S. The inverse of the currency quote is EUR/USD. The four most popular. dollar/Swiss franc) – "swissie" . The first currency of a currency pair is called the base currency.25. MOST TRADED PAIRS Although some retail dealers trade exotic (less popular) currencies such as the Thai baht or the Czech koruna.80 euros you sell.S.P a g e | 51 CURRENCY QUOTES Currencies are quoted in pairs. for example the USD/EUR is the U. the value of a currency is determined by its comparison to another currency. you will receive 0. dollar/Japanese yen) – "gopher" GBP/USD (British pound/dollar) ."cable" USD/CHF (U. the majority trade the seven most traded currency pairs in the world. you purchase (receive) US$1. dollar/euro. also known as "the majors" are: EUR/USD (euro/dollar) – "euro" USD/JPY (U. The currency pair shows how much of the quote currency is needed to purchase one unit of the base currency. this means that for every 0. and the corresponding price would be EUR/USD = 1.8000 and you purchase the pair. if the USD/EUR currency pair is quoted as being USD/EUR = 0. If you sell the currency pair. Using this quotation.25 would buy 1 euro.

which can be a bad thing for you. your broker has a say in how much risk you take. Strict Margin Rules When you are trading with borrowed money. but it requires a minimum initial investment of around $2. $250. your broker can buy or sell at its discretion.P a g e | 52 BROKERS The forex (FX) market has many similarities to the stock market.000. Let's say you have a margin account. and your position takes a dive before rebounding to all-time highs. Get the right account type Many brokers offer two or more types of accounts. Well. Forex brokers don't charge a commission. some brokers will liquidate your position on a margin call at that low. say. calculated in pips. . no broker admits to committing these acts. offering a high amount of leverage (which you need in order to make money with so little down).are shady acts committed by brokers to increase profits. so this difference is how they make money. Here are some things to look for: Look for low spreads The spread. just as in any other market. Things to Avoid Sniping or Hunting Sniping and hunting . This action on their part can cost you dearly. The smallest account is known as amini account and requires you to trade with a minimum of. even if you have enough cash to cover. As such. but there are some key differences. is the difference between the price at which a currency can be purchased and the price at which it can be sold at any given point in time. In comparing brokers. The standard account lets you trade at a variety of different leverages. Obviously. Choosing a Broker There are many forex brokers to choose from.or prematurely buying or selling near preset points . you will find that the difference in spreads in forex is as great as the difference in commissions in the stock arena.

100 Rs Per CRORE TURNOVER TAX ON COMMIDITY – 300 Rs TURNOVRER TAX ON EQUITY – 500 Rs COMMODITY TRANSACTION TAX (CTT) – 0.35% ON BROKRAGE STAMP DUTY .12.01% SELLING SIDE ON ON EQUITY SECURITY TRANSACTION TAX (STT) .17% ON SEELING SIDE NET ASSESTS VALUE(NAV) – ITS STARTS FROM 10 Rs MIN .P a g e | 53 TAXES AND BROKERAGE CHARGES SERVICE CHARGE .0.

P a g e | 54 WHAT MOVES A CURRENCY? Fundamental Analysis If you think it's difficult to value one company. be sure to keep a calendar that highlights important dates so you know when these reports are released. and it's usually used only to predict long-term trends. some traders do trade short term strictly on news releases. however.the Federal Reserve chairman's comments on interest rates. There are also several meetings that provide quotes and commentary. try valuing a whole country! Fundamental analysis in the forex market is often very complex. which can affect markets just as much as any report. These meetings are often called to discuss interest rates. inflation and other issues that affect currency valuations. If you choose to follow a fundamental strategy. Simply reading the reports and examining the commentary can help forex fundamental analysts gain a better understanding of long-term market trends and allow short-term traders to profit from extraordinary happenings.can cause market volatility. Here are a few: Non-farm payrolls Purchasing Managers Index (PMI) Consumer Price Index (CPI) Retail sales Durable Goods These reports are not the only fundamental factors to watch. There are many different fundamental indicators of currency values released at many different times. Your broker may also provide real-time access to such information . for example . Even changes in wording when addressing certain issues .

Sun Tzu . or if you are just looking for advanced strategy ideas we have what you are looking for. have some experience.P a g e | 55 LEARN FOREX TRADING Welcome to the OFXT Dojo where you can learn the art of currency trading! Whether you are new to forex. Forex Basic: White Belt Fundamental Trading: Yellow Belt Technical Trading: Green Belt Tactical Trading: Blue Belt Brokers & Tools: Brown Belt Strategy & News: Black Belt You have to believe in yourself.

off of the gold standard. WHAT IS FOREX? Forex stands for the foreign exchange market. This is also referred to as the FX.S. so move at your own pace. There is no rush. This market has been around since the 1970‟s when currencies started to fluctuate when President Nixon took the U. WHY FOREX TRADE? ENORMOUS VOLUME WHAT ADVANTAGE IS THAT TO YOU? NO COMMISSIONS 24 HOUR A DAY TRADING NO RESTRICTIONS ON SHORT SELLING INTRUDUCTION TO CURRENCY PAIR? MAJOR CURRENCY PAIRS CURRENCY CROSSES EXOTIC CURRENCY PAIRS NOW THAT WE KNOW WHAT THE PAIRS ARE… WHEN DO THEY TRADE? FOREX ORDER TYPE? MARKETING ORDER LIMIT ORDER STOP-LOSS ORDER LIMIT ENTRY ORDER . the U. Spot FX or Currency market. All of these names are just several ways of describing the very same market.P a g e | 56 FOREX BASIC: WHITE BELT Brand New to Forex? Make your way to White Belt and follow the training path all the way through. currency was backed by gold and now it‟s just backed by the “faith” in the government‟s ability to honor and back the currency.S. Formerly.

and it‟s easier to make money. Investors. there will be more demand for dollars. but don‟t quite understand how non-farm payrolls impacts the forex market? Begin here and we will show you how economics and fundamentals drive the currency market forward. Two sessions are usually always overlapping.P a g e | 57 FUNDAMENTAL TRADING: YELLOW BELT Fundamentals of fundamental analysis. when things calm down as soon as the London session closes. London and Tokyo. . London is open from 3 am to 12 pm. Tuesday and Wednesday shows much more movement and activity than the beginning or end of the week. New York is open from 9am to 5 pm. for instance. and it‟s unadvised to do lots of trading then. there are specific times when the market is faster moving. and Tokyo is open from 7pm to 4 am. Friday is generally the slowest day. Already know what a pip is. which means that. Sundays and Holidays are generally dead as well. NFP-NON FARM PAYROLLS Deciphering the Numbers An increase in jobs suggests the economy is growing. all things being equal. In terms of Eastern Standard Time. who were thinking of buying US assets will feel more comfortable doing so. There are three main time zones for trading – New York. What is the Best Time to Trade? The middle of the week is also usually the busiest time in terms of trading. The NFP will usually show an increase in jobs. MOST ACTIVE TRADING TIMES IN FOREX When is the Forex Market Open? Though the forex market is open 24 hours a day.

Learn the ancient art of Japanese Candlesticks as well more modern techniques like Elliot Waves. you are ready to understand technical analysis.P a g e | 58 TECHNICAL TRADING: GREEN BELT Ready to Get Technical? Once you have mastered the basics. BEST CHART CHOICES CHOOSING A TIME FRAME TECHNICAL ANALYSIS AND CHARTING INDICATORS SUPPORT AND RESISTANCE PRICE CHANNELS GUIDE TO FIBONACCI RETRACEMENTS MOVING AVERAGES AND TECHNICAL TRADING BOLLINGER BANDS INTRODUCTION COMMON CANDLESTICK PATTERNS AND HISTORY OF JAPANESE CANDLESTICKS JAPANESE CANDLESTICK PATTERNS IMPORTANT CHARTING PATTERNS WHEN TRADING FOREX LIST OF CANDLESTICK PATTERNS HEAD AND SHOULDERS CANDLESTICK PATTERN .

now it is time to learn tactics. commodity currencies or how to create a trading plan. OFXT ninja training is not complete without money management.P a g e | 59 TACTICAL TRADING : BLUE BELT You have learned strategy. COMMODITY CURRENCIES TRADING CROSS CURRENCIES HOW TO TRADE SYNTHETIC CROSSES FOREX OPTIONS BASICS MONEY MANAGEMENT RISK REWARD RATIO CREATING A TRADING PLAN BROKERS AND TOOLS : BROWN BELT HOW TO CHOOSE A FOREX BROKER HOW DO I KNOW IF I CAN TRUST MY FOREX BROKER? HOW TO PICK A MONEY MANAGER FOREX TRADING AND TAXES STRATEGY AND NEWS : BLACK BELT HOW TO SCALP THE FOREX MARKET NEWS ANNOUNCEMENTS AND TRADING NEWS TRADING STRATEGY RANGE TRADING SWING TRADING STRATEGY TREND TRADING .

P a g e | 60 INTRODUCTION OF ONLINE TRADING AND OFFLINE TRADING .

In order to remove their doubts given below is the difference between online and offline trading .P a g e | 61 When you are opening an account for stock trading the brokers ask whether you want to open an online or offline account. many people get confused because they do not know the difference between the two.

while for people who do not have internet facility at office or their office blocks stock market websites than offline trading account is best suited for them because they can give orders on phone and broker would place those orders. CONVENIENCE Online trading account is best suited for those individuals who can track the stock market from their office or home. therefore an individual is dependent on brokers for execution of orders in offline trading which is not the case with online trading. FRAUD In online trading account there are no chances of fraud as it is you who has complete control over your transactions while chances of fraud increases if you have offline account because some brokers tend to trade at their discretion without taking permission from client which may lead to losses to the client. whereas in offline account since a broker has been doing trading for years he or she have more knowledge and therefore can give you proper guidance and hence help you in taking the right decisions (however investor should be cautious as sometimes brokers tend to give biased opinion). EXPERTISE AND KNOWLEDGE If you do not have any knowledge about stock markets then an online account can be risky because you may end up buying a stock on impulse without doing proper research.P a g e | 62 TRADING In online account the client himself or herself can trade in stock whereas in offline account only broker can trade in stock according to instructions given by the client. .

P a g e | 63 INTRODUCTION OF ODIN TRADING SOFTWARE .

Equities and Derivatives.P a g e | 64 ODIN™ Program Trading is a special trading application that facilitates auto-execution of the trades based on the selected strategies. Currency. Program Trading can be used to take advantage of arbitrage/spread opportunities that exist across the Cash and Futures or Calendar Spread in various Exchanges like MCX. The application has a built-in intelligence to search for the opportunities that exist in the market as per the yield and other criteria defined by the user . MCX Stock Exchange to cater the segments like Commodities.

Quote drive Arbitrage (Bidding Model) as well as Calendar Strategies (Spread IOC) that can be applied across selected stocks/contracts BENEFITS Enables automatic calculation and execution of complex arbitrage/spread strategies without the need for any form of human intervention Application performs complex calculations based on the predefined parameters on a continual and real-time basis Eliminates any opportunity loss that arises if the same actions are to be performed manually Enables Members to execute strategies for Proprietary Trades or on behalf of their clients Enables Members to run multiple strategies in a single application Exploit the arbitrage opportunities arise in the markets automatically .P a g e | 65 FEATURES  Option to select touchline or weighted average price for calculation of Spread available Option to specify the Tick size by which the order should be modified Option to activate Square Off mode with a Timer that has an inbuilt logic to square off all option positions by the end of the trading day Option to specify whether user want to do a Reverse only after a Forward execution and vice versa Choose from the list of built-in Arbitrage.

bseindia.com www.onlineforextrading.com www.com NEWSPAPERS: HINDUSTAN TIMES ECONOMIC TIMES MARKET EXPRESS .com www.com www.nseindia.Swastika.investopedia.com www.moneycontrol.google.P a g e | 66 BIBLOGRAPHY WEBSITES: www.com www.