Maharaja Ranjit

Singh College
of Professional
Sciences-Indore
(Approved by Govt. of M.p. &AICTE Delhi &
Affiliated to
DAVV & RGPV, Bhopal UGC recognised
in 2(f))
Hemkunt Campus,
452017(M.P.) India

Khandwa

Road,

Project report
On

Technical analysis of a company for
Investment

Indore-

SUBMITTED TO -

SUBMITTED BY -

PRO. VISHAL SOOD SIR

DHEERAJ KACHER

MRSC INDORE

DEEPAK SEN
NEHA RATHORE
(MBA FA 2 SEM)

.

ACKNOWLEDGEMENT
I want to express my sincere gratitude to all those who made this study
possible. First of all I am thankful to the helpful staff and the faculty of
MAHARAJA RANJIT SINGH COLLAGE OF PROFESSIONAL
SCIENCE. One of the most important tasks in every good study is its
critical evaluation and feedback which was provided to me by my guide
Mr.Vishal Sood sir. Or investing his precious time to discuss and
criticize this study in depth and explained the meaning of different
concepts and how to think when it comes to problem discussions and
theoretical discussions.

I am also thankful to Mr. Akhilesh Rathi owner of “SNR Securities &
Finance A Franchisee of Angel Broking Ltd.” for his support and
guidance for the project.

2

CERTIFICATE OF THE COMPANY

3

4

5

TABLE OF CONTENT
CONTENT

PAGE
NO.

1

Executive summary

4

2

Preface-Research overview

7

3

Introduction-Brief overview on perception of people regarding to ‘Is Investment In 9
Stock Market Recommended or Not In Present Scenario.

4

Industrial view

12

5
6
7

Theoretical background
15
objective
24
Research Methodology- Population size, sample size, tools used, technique of data 25
collection, sampling method, analysis procedure

8

Data analysis- Interpretation of data collected, its brief summary

26

9

CONCLUSION

53

10 Limitation-Difficulties in doing research

54

11 Recommendation

55

12 Bibliography

56

6

EXECUTIVE SUMMARY
TITLE: “Technical

analysis of a company for investment”

OBJECTIVES: - TO know the present Scenario of different companies because
today’s it is highly unpredictable.Negatives would be unpredictability of stock
market, investing in stocks wihtout research, industry environment impacting
negatively the stock, financial market volatility, scams, price manuplation etc..

RATIONALE OF THE STUDY:- The purpose of this research project is to find
out the present condition and their future trend of different companies in stock
market. I am conducting a research only to know that what is the present condition
of a company in stock market whether it is good to invest in a company or not.

7

METHODOLOGY: For Study secondary data has been used as a source of data
collection. Some secondary data was designed to know the Current position of a
company.

SUGGESTIONS:- The findings of the study suggest that there is good market for
Investment in a company of stock Market. Because it is so much profitable duo to
increment of stock market . The need is just to increase awareness regarding
Market conditions.For this there is need of constant..

CONCLUSIONS:- Finally the research is concluded with applicability of the
study in different areas and some suggestions are given that would be helpful for
Investors because present scenario of a company in Stock market condition
prevailing is High volatility, sharp rallies, unexpected market direction, extremely
fickle sentiments and high influence of the international markets. So after doing
this research I recommended that market is highly volatile and unexpected, there is
need of constant analyzing the situation of stock market.investors should invest in
sound companies and keep update.

8

PREFACE-

The urge for the knowledge gives rise to quarries and the query is the mother of the
research. Thus for exploring a new insight into a matter we do research. In this
research project, various methods had been implemented to know about the present
scenario of a company in stock market so that by this research Investment in this
market recommended or not.
Data for the study was collected from different sources like print media and multi
media. The data was analyzed in tables and interpretation has declared the
authenticity of the topic of the research.
We hope this report will be helpful to the other student doing research on this
subject or topic.

9

10

11

INTRODUCTION
What is project
Project is about to understand the present condition of a company and their
future trend in stock market to invest fund by analyse the different data of
companies regarding to there performance
HYPOTHESIS:‘Is Investment In Stock Market in different companies Recommended or Not In
Present Scnario?’

Purpose of the project –
• To predict the future trend on the basic of identified market trend with
the help of historical data.
• To identify market trend shown by the selected companies, scrips on
the basis of oscillators .
12

Scope of the project

This project is all about the performance of a company by which we

can understood the present condition and scenario and use this project in
all type of investment field also there players like NBFC , BROKER ,
FII, and mainly for GENRAL INVESTORE

This project is also helpful to the student for the pupose of the study

about of stock market .
• The research is based upon the price of the two companies that is
TATA COFFEE, AND CIPLA.

The research is based upon the oscillators, tools for technical analysis

and involves the calculation of three oscillators that are MACD,ROC,RSI
• The research data include the daily closing price quoted on the
‘national stock exchange’.

MACD has been calculated by taking short term moving average for

five periods(item) and long term moving average for ten periods.(item)

ROC has been calculated by taking seven period.
13

RSI has been calculated by taking six period.

INDUSTRIAL REVIEW
Introduction to the organization
Name of the organization:
SNR Securities

Brief Histiory:
SNR Securities & Finance was established & started excellence in
customer relations in year 2000. Today, SNR Securities & Finance has
emerged as one of the most respected Stock-Broking and Wealth
Management Companies in Central India. With its unique retail-focused
stock trading business model, SNR Securities & Finance is committed to
providing ‘Real Value for Money’ to all its clients.
The SNR Securities & Finance is a registered with the Bombay Stock
Exchange (BSE), National Stock Exchange (NSE) and the two leading
Commodity Exchanges in the country: NCDEX & MCX. SNR Securities
& Finance is also registered as a Depository Participant with CDSL.

Major Operations:
Equity Trading
Commodities

14

Mutual Funds
Life Insurance
IPO
Depository Services
Investment Advisory
Vision statement of company:
“To provide best value of money to its investors through its innovative
products, trading & investment strategies, state of the art technology &
personalized services.”

15

THEORATICAL BACKGROUND
TOOLS TO PREDICT FOR INDIVIDUAL SHARE TREND
With the help of the technical indicators, analysis of the individual share
is done to identify buying and selling signal. The signals are generated
with the help of such technique which are foolproof and much in
advance of the actual movement. Following tools are used for thisA> Moving average analysis
B>

Oscillators

MACD

ROC

RSI

16

C>

Chart patterns.

(A) MOVING AVERAGE ANALYSISMoving average is simply the rolling average of past price . to
calculate the moving average daily or weekly prices are taken for a
period and every time an average is calculated by dropping the
oldest and a new value is added. This average is plotted on a graph
along with price of the share on the basis of which such average is
calculated. A study of the movement of these prices and average
helps in generating buying and selling signals. A short term moving
average is used to predict near future movement whereas a long term
moving average is used to take the decision about the longer time
period. With the help of moving average the following signals can
be generated.
• BUYING SIGNAL
• SELLING SIGNAL

BUYING FSIGNALS

Whenever the price line is above the moving average
line , kit means towards the average line but false to
penetrate it , instead starts arising upward , supported by

17

an upward movement of the average line it is a buying
signal

When price line is below the moving average line , and it
penetrates towards the upside and continues to move
upward , supported by an upward movement of the
average line , it is a buying signals

When price line is above the moving average line and is
moving upwards continually , supported by the similar of
average line , it is also a buy signal

SELLING SIGNALS

When price line is below the moving average line , it move
towards the average line but falls to penetrates , instead starts
declining , supported by a downward movement of the
average line , it is a sale signal

• When price line is above the moving average line , and it
penetrate towards the down side and continues to move
downward , supported by a downward movement of the
average line it is a sale signal

When price line is below the moving average line and
moving downward continually , supported by similar
movement of the average line , it is also a sale signal

(B) Oscillators
18

By oscillation we mean a movement of certain item again
and again on the same park with the same frequency, like that
of a pendulum in the walk clock. On this basis certain
oscillators have been developed to predict the trends about
the individual’s shares. These oscillators are fine tools to
predict future movements much before such movement take
place and thus leave a sufficient time gape to take decision on
the basis of these. Prominent oscillators are as follows

MACD (MOVING AVERAGE CONVERCENCE AND DIVERGENCE)

ROC(RATE OF CHANGE)

RSI(RELATIVE STAND INDEX)

MACD (MOVING AVEREGE CONVERGENCE AND DIVERGENCE)

MACD is one of the most widely used. Average oscillators. MACD as
the name itself suggest, is the difference two moving average of
different length and plotting that differences. The long term moving
average is deducted from the short term values to arrived at the MACD
for any particular day , though the most commonly used moving
average are
12 days and 14 days
MACD= short term moving average –long term moving average
TABLE 1.1 a complete example of calculating MACD
date

Closing price

5 days moving 10 days
19

MACD

average

moving
average

9-1-2006
10-1-2006
11-1-2006
12-1-2006
13-1-2006
14-1-2006
16-1-2006
17-1-2006
18-1-2006
19-1-2006
20-1-2006
21-1-2006

102
105
108
99
100
105
109
112
115
117
118
120

105.00
104.00
102.33
101.33
104.67
108.67
112.00
114.67
116.67
118.33

104.00
105.43
106.86
108.14
110.86
113.71

-0.67
+3.24
+5.14
+6.53
+5.81
+4.62

Along with the price data, MACD data are plotted on the above figure and the
following parameter are used to study j the trend

Whenever the MACD line is above the zero mark line , it indicate the signal
of bullish market for the scrip

Whenever the MACD line is above the zero mark line but declining it is
early warning signal of a bearish market

Whenever the MACD line is below the zero mark line , it is signal of bearish
market

Whenever MACD line is below the zero mark line but rising it gives signal
of a bullish market ahead

Whenever MACD line is form a peak at the top it gives signal that a market
will soon turn bearish, i.e. it represent over bought situation

Whenever MACD line reaches its bottom it signified over sold situation i.e.
that is the market will start becoming bullish

20

ROC (RATE OF CHANGE)

ROC

=CURRENT PRICE /PRICE n DAYS AGO

TABLE 1.2 shows the complete example of calculating ROC for 7 days
TABLE 1.2 example showing calculation of ROC
DAYS
1
2
3
4
5
6
7
8

CLOSING PRICE
135.45
150.9
166.1
170.75
181.4
238.7
249.65
248.55

7 days ROC on 8th days = (248.55/135.45)=1.83
Along with price data, the ROC data are plotted on the above table and the
following parameters are used to identify the trend

When ROC is at the peak , it signifies the overbought market

When ROC is above ‘one’ mark line and increase with , it signifies the
bullish trend in the market for the script
21

When ROC is above ‘one’ mark line but declining it signifies the bears trend
in the market for the scrip

When ROC has reached at it bottom , it signifies the oversold market

When ROC is below ‘one ’ (after reaching the bottom), it signifies the
conversion of selling pressure into buying pressure and it is the early signal
of bullish market

RSI (RELATIVE STRENGHT INDEX)
RSI was developed by j. Welles wilder J. R. In 1978. RSI upper limits respectively
for its vertical scale.
RSI is calculated using the following formula
RS = AVERAGE OF n PERIODS PRICE GAIN / AVERAGE OF n PERIODS
PRICE LOSS
TABLE 1.3 shows a complete example of calculating RSI for 6 days
Table 1.3 RSI calculations for 6 days
Days
1
2
3
4
5
6

Closing p1rice
135.4
150.9
166.1
170.75
181.4
238.7
Total

Gain
15.4
15.2
4.65
10.65
57.3
103.25

22

Loss
-

RS = (103.25/6)/ (0/6) =0
RSI =100-[100/ (1+RS)]
RSI = 100-0[100/ (1+0)] = 0
The RSI value for 6 days is 0. For calculating the RSI value from 7th day we have
to exclude the first day’s closing price and add 7th day’s price and so one.
Along with the price data RSI data are plotted on the (figure 1.3) and the following
parameter are used to identify the trend

When RSI process 50 mark lines, it signifies a bullish market ahead for the
scrip.

As soon as RSI process 70 mark line it signifies the overbought market .now
it is expected that peak will we touched

When RSI declines after touching the peak , it signifies the bearish market
ahead

When RSI crosses 50 mark line from upward and continuously decline , but
has not 30 mark line it signifies the bearish market

As soon as RSI farces 30 mark line from upward it signifies the oversold
market .now it is expected that the bottom will we touched soon. this is the
early signal of bullish market

When are RSI is above 30 mark line and progressing toward 50 mark it
signifies a bullish market

23

(C)

CHART PATTERNS-

When prices of individual share are plotted on a line chart these indicate several
patterns, like head and soldier movement, inverse head and soldier, flag, and
triangle, etc. these pattern are used to generate signal about the expected movement
of the market. Under technical analysis it is believed that prices show a particular
pattern again and again and due to this tendency chart pattern get generated. These
chart pattern can be used to predict about the near future price volume, but these
are not as strong as oscillator and moving average.
This chart pattern can be generated for the index value as well for the price of the
individual share, these help in identifying the following

• Support level
• Resistance level
SUPPORT LEVEL—
It is the lower price level at which demand for the share gains
momentum, as the result of which declining price take an upward tern at this level.
it is expected that price will not fall below this level and hope of gaining something
from the rising prices creates a demand.
RESISTENCE LEVEL—
It is the upper price level at which supply for the share gains
momentum, as a result of which rising price take a downward turn at this level. It
is expected that price will not rise above this level and the fear of likely loss due to
decline in the share prices generates the supply.

24

TYPE OF CHART PATTERNS • HEAD AND SOLDIER
• INVERSE HEAD AND SOLDIER
• TRIANGLE
• FLAG.

HEAD AND SOLDIER—
This reflect resistance and support level in an upward moving market, to identify
expected movement in the market .either indexes or prices of individual share can
be used for these .in this neck line is considered as the ultimate support level,
whereas soldier lines are the intervening resistance level and head line are the final
resistance level. With the help of such identification buy and sell signals can be
generated,

NECK

HEAD
SOLDIER

INVERSE HEAD AND SOLDIER—
This reflects resistance and support level in a downward moving market, to
identify expected movement in the market. Either index or prices of individual
share can be used for these. In this neck line is consider as the ultimate resistance

25

level, whereas, soldier line are the intervening support level and head line is the
final; support level. With the help of such identification buy and sell signal can be
generated.

Soldier
Head

Neck

TRIANGLE—
These are the price pattern which shows the movement of shifting resistance and
support level. Whenever in declining market resistance line tend to shift toward
support level at a faster rate, it will form a triangle indicating a future declining in
the near future. Similarly in an upward moving market support level tend to shift
toward the resistance line at a faster rate, it indicates an improvement in the market
in the near future and market is likely to advance in the future.

FLAG—
26

A flag is identifies as a narrow movement of the market either after an uptrend or
adown trend. This means market has taken a pause after the previous trend and
after the short while market is likely to continue in the same direction as previously

OBJECTIVE
RESEARCH OBJECTIVES
The inside story
Business research can help managers to plan strategies by determining nature of
situation or by identifying the existence of opportunities present in the market.
Business research may uses as a scanning activity to provide information about
what is occurring within an organization or in its environment.
Primary Objective of the research:
To make people aware about the stock market either it is investable or not.
Secondary Objective of the Research:

To collect the data related with Stock market and companies.

To know the present situation of stock market.

To know the awareness about Business Cycle.

27

To provide the secondary data for other research.

REASERCH METHOLOGY
TYPE OF RESEARCH- Empirical
DATA TYPE--

Secondary Data

DATA COLLECTION TOOLS-

Sampling Method are used for colleting the
Data.

TYPE OF SAMPLING-

Judgement Sampling Plan.

SAMPLING FRAME-

Data taken from companies listed on the
National Stock Exchange. The research has
been taken two selected companies.

DATA SIZE--

Data has taken from two selected companies as
per day closing price of one year

28

DATA ANALYSIS, RESULT AND
INTERPRITATION
DATA ANALYSISCALCULATION OF VARIOUS OSCILLATORS OF ONGC
MACD = SHORT TERM MOVING AVERAGE – LONG TERM MOVING
AVERAGE
SHORT TERM MOVING AVERAGE = MOVING AVERAGE OF 5 DAYS CLOSING PRICE
LONG TERM MOVING AVERAGE = MOVING AVERAGE OF 10 DAYS CLOSING PRICE

ROC = CURRENT PRICE / PRICE n DAYS AGO
n = 7 DAYS

29

RSI = 100 - [100/ (1+RS) ]
RS = AVERAGE OF n PERIODS OF PRICE GAIN / AVERAGE OF n PERIODS
PRICE LOSSES
RS calculated on 6 days

Here according to given data
AVERAGE OF n PERIODS OF PRICE GAIN = sum of 6 days gain/6
AVERAGE OF n PERIODS PRICE LOSSES = sum of 6 days loss/6
TABLE SHOWING MACD AND ROC

Date
1-Jun-09
2-Jun-09
3-Jun-09
4-Jun-09
5-Jun-09
8-Jun-09
9-Jun-09
10-Jun09
11-Jun09
12-Jun09
15-Jun09

Close Price
1176.7
1163.85
1168.25
1169.35
1181.8
1113.55
1132.15

5 DAYS M.
AVG.
.
.
1171.99
1159.36
1153.02
1152.59
1142.83

10 DAYS M. AVG
.
.
.
.
.
.
1151.935

MACD
.
.
.
.
.
.
-9.105

1166.1

1131.88

1146.81

-14.93

0.991

1120.55

1134.26

1143.1

-8.84

0.963

1127.05

1133.18

1132.395

0.785

0.965

1125.45

1112.2

1116.225

-4.025

0.962

30

ROC

16-Jun09
17-Jun09
18-Jun09
19-Jun09
22-Jun09
23-Jun09
24-Jun09
25-Jun09
25-Jun09
26-Jun09
29-Jun09
30-Jun09
1-Jul-09
2-Jul-09
3-Jul-09
6-Jul-09
7-Jul-09
8-Jul-09
9-Jul-09
10-Jul-09
13-Jul-09
14-Jul-09
15-Jul-09
16-Jul-09
17-Jul-09
20-Jul-09
21-Jul-09
22-Jul-09
23-Jul-09
24-Jul-09
27-Jul-09
28-Jul-09
29-Jul-09
30-Jul-09
31-Jul-09
3-Aug-09
4-Aug-09
5-Aug-09
6-Aug-09
7-Aug-09
10-Aug09
11-Aug09

1126.75

1089.62

1098.98

-9.36

0.953

1061.2

1066.08

1087.01

-20.93

0.953

1007.65

1039.76

1076.465

-36.705

0.890

1009.35

1019.75

1064.95

-45.2

0.866

993.85

1017.7

1056.195

-38.495

0.887

1026.7

1022.77

1045.46

-22.69

0.911

1050.95

1024.84

1037.375

-12.535

0.934

1033

1034.99

1031.295

3.695

0.917

1019.7

1042.84

1031.905

10.935

0.961

1044.6

1046.11

1036.3

9.81

1.037

1065.95

1049.83

1048.025

1.805

1.056

1067.3
1051.6
1126.6
1136.15
1069.75
1049.45
1010.75
998.35
986.6
991.3
999.7
1039.4
1023
1043.05
1060.65
1045
1092.45
1093
1124.85
1096.15
1101.95
1098.45
1101.05
1164.05
1179.3
1141.8
1194.3
1152.95
1139.1

1071.21
1089.52
1090.28
1086.71
1078.54
1052.89
1022.98
1007.29
997.34
1003.07
1008
1019.29
1033.16
1042.22
1052.83
1066.83
1083.19
1090.29
1101.68
1102.88
1104.49
1112.33
1128.96
1136.93
1156.1
1166.48
1161.49
1157.79
1159.94

1062.255
1066.56
1066.41
1064.185
1062.05
1056.25
1048.785
1042.025
1040.805
1030.445
1021.135
1020.225
1019.78
1027.95
1037.415
1051.24
1061.725
1071.95
1077.855
1085.66
1097.76
1109.625
1119.305
1129.49
1135.485
1136.91
1143.375
1148.435
1151.31

8.955
22.96
23.87
22.525
16.49
-3.36
-25.805
-34.735
-43.465
-27.375
-13.135
-0.935
13.38
14.27
15.415
15.59
21.465
18.34
23.825
17.22
6.73
2.705
9.655
7.44
20.615
29.57
18.115
9.355
8.63

1.074
1.024
1.072
1.100
1.049
1.005
0.948
0.935
0.938
0.880
0.880
0.972
0.975
1.032
1.062
1.059
1.102
1.093
1.082
1.072
1.056
1.036
1.054
1.066
1.079
1.015
1.090
1.046
1.037

1160.8

1146.52

1157.725

-11.205

1.054

1152.55

1148.97

1163.37

-14.4

0.990

31

12-Aug09
13-Aug09
14-Aug09
17-Aug09
18-Aug09
19-Aug09
20-Aug09
21-Aug09
24-Aug09
25-Aug09
26-Aug09
27-Aug09
28-Aug09
31-Aug09
1-Sep-09
2-Sep-09
3-Sep-09
4-Sep-09
7-Sep-09
8-Sep-09
9-Sep-09
10-Sep09
11-Sep09
14-Sep09
15-Sep09
16-Sep09
17-Sep09
18-Sep09
22-Sep09
23-Sep09
24-Sep09
25-Sep09
29-Sep-

1127.2

1165.25

1161.935

3.315

0.956

1165.2

1166.08

1165.975

0.105

1.020

1220.5

1172.01

1162.535

9.475

1.022

1164.95

1178.55

1165.19

13.36

1.010

1182.2

1181.41

1170.435

10.975

1.038

1159.9

1175.62

1173.94

1.68

0.999

1179.5

1181.8

1177.05

4.75

1.023

1191.55

1182.09

1181.74

0.35

1.057

1195.85

1184.93

1182.545

2.385

1.026

1183.65

1183.68

1178.365

5.315

0.970

1174.1

1181.11

1180.42

0.69

1.008

1173.25

1179.04

1178.49

0.55

0.992

1178.7

1174.89

1178.055

-3.165

1.016

1185.5
1162.9
1155.55
1140.25
1178.2
1188.45
1185.8
1180.1

1171.18
1164.58
1164.48
1165.07
1169.65
1174.56
1182.65
1182.36

1174.13
1172.795
1172.055
1172.27
1172.87
1173.615
1173.42
1171.01

-2.95
-8.215
-7.575
-7.2
-3.22
0.945
9.23
11.35

1.005
0.976
0.966
0.963
1.003
1.013
1.006
0.995

1180.7

1176.95

1169.265

7.685

1.015

1176.75

1168.88

1168.615

0.265

1.018

1161.4

1162.67

1170.5

-7.83

1.019

1145.45

1158.35

1169.045

-10.695

0.972

1149.05

1155.73

1165.715

-9.985

0.967

1159.1

1154.48

1163.32

-8.84

0.977

1163.65

1157.76

1160.31

-2.55

0.986

1155.15

1157.95

1157.97

-0.02

0.978

1161.85

1157.59

1159.26

-1.67

0.987

1150

1162.79

1160.32

2.47

0.990

1157.3
1189.65

1166.16
1170.23

1163.995
1166.065

2.165
4.165

1.010
1.035

32

09
30-Sep09
1-Oct-09
5-Oct-09
6-Oct-09
7-Oct-09
8-Oct-09
9-Oct-09
12-Oct-09
14-Oct-09
15-Oct-09
16-Oct-09
17-Oct-09
20-Oct-09
21-Oct-09
22-Oct-09
23-Oct-09
26-Oct-09
27-Oct-09
28-Oct-09
29-Oct-09
30-Oct-09
3-Nov-09
4-Nov-09
5-Nov-09
6-Nov-09
9-Nov-09
10-Nov09
11-Nov09
12-Nov09
13-Nov09
16-Nov09
17-Nov09
18-Nov09
19-Nov09
20-Nov09
23-Nov09
24-Nov09
25-Nov09
26-Nov09
27-Nov09

1172
1182.2
1169.75
1184.8
1183.05
1202.25
1220.35
1246.5
1262.05
1257.65
1245.9
1240.75
1210.75
1178.8
1171.85
1175.85
1166.7
1164.55
1133.85
1163.5
1131.8
1118.6
1133.4
1152.85
1158.35
1166.8

1174.18
1179.68
1178.36
1184.41
1192.04
1207.39
1222.84
1237.76
1246.49
1250.57
1243.42
1226.77
1209.61
1195.6
1180.79
1171.55
1162.56
1160.89
1152.08
1142.46
1136.23
1140.03
1139
1146
1149.02
1152.43

1168.635
1170.575
1175.285
1181.135
1190.785
1201.26
1208.06
1215.45
1221.305
1225.405
1224.805
1223.685
1221.045
1215.68
1207.485
1194.665
1185.25
1173.84
1161.625
1153.89
1151.295
1149.945
1149.04
1145.74
1144.33
1145.745

5.545
9.105
3.075
3.275
1.255
6.13
14.78
22.31
25.185
25.165
18.615
3.085
-11.435
-20.08
-26.695
-23.115
-22.69
-12.95
-9.545
-11.43
-15.065
-9.915
-10.04
0.26
4.69
6.685

1.011
1.016
1.013
1.020
1.029
1.039
1.026
1.064
1.068
1.075
1.052
1.049
1.007
0.966
0.940
0.932
0.928
0.935
0.914
0.961
0.960
0.955
0.964
0.988
0.995
1.029

1133.7

1151.46

1147.805

3.655

0.974

1150.45

1156.61

1154.585

2.025

1.016

1148

1163.17

1160.035

3.135

1.026

1184.1

1171.05

1164.68

6.37

1.045

1199.6

1176.93

1165.76

11.17

1.041

1173.1

1180.06

1166.8

13.26

1.013

1179.85

1176.99

1168.765

8.225

1.011

1163.65

1174.36

1172.725

1.635

1.026

1168.75

1174.4

1175.68

-1.28

1.016

1186.45

1174.43

1178.295

-3.865

1.033

1173.3

1176.53

1176.4

0.13

0.991

1180

1175.81

1176.415

-0.605

0.984

1174.15

1178.47

1178.885

-0.415

1.001

1165.15

1183.37

1179.395

3.975

0.988

33

30-Nov09
1-Dec-09
2-Dec-09
3-Dec-09
4-Dec-09
7-Dec-09
8-Dec-09
9-Dec-09
10-Dec09
11-Dec09
14-Dec09
15-Dec09
16-Dec09
17-Dec09
18-Dec09
21-Dec09
22-Dec09
23-Dec09
24-Dec09
29-Dec09
30-Dec09
31-Dec09
4-Jan-10
5-Jan-10
6-Jan-10
7-Jan-10
8-Jan-10
11-Jan10
12-Jan10
13-Jan10
14-Jan10
15-Jan10
18-Jan10
19-Jan10
20-Jan-

1199.75
1197.8
1184.95
1199.95
1179.1
1179.05
1179.75
1179.95

1184.36
1189.52
1192.31
1188.17
1184.56
1183.56
1182.66
1184.76

1183.025
1184.06
1183.32
1183.965
1183.96
1186.09
1188.535
1188.87

1.335
5.46
8.99
4.205
0.6
-2.53
-5.875
-4.11

1.031
1.025
0.999
1.023
0.999
1.004
1.013
0.983

1195.45

1189.57

1188.475

1.095

0.998

1189.6

1192.39

1188.88

3.51

1.004

1203.1

1194.2

1188.95

5.25

1.003

1193.85

1195.24

1189.565

5.675

1.013

1189

1194.37

1189.455

4.915

1.008

1200.65

1189.34

1187.585

1.755

1.018

1185.25

1182.78

1187.485

-4.705

1.004

1177.95

1180.77

1187.685

-6.915

0.985

1161.05

1180.13

1186.88

-6.75

0.976

1178.95

1179.39

1184.01

-4.62

0.980

1197.45

1178.68

1182.425

-3.745

1.003

1181.55

1182.07

1182.27

-0.2

0.994

1174.4

1183.77

1183.03

0.74

0.978

1178
1187.45
1208.25
1223.5
1224.8
1215.7

1185.93
1194.32
1204.4
1211.94
1217.75
1214.29

1186.855
1191.54
1197.005
1200.76
1200.11
1201.485

-0.925
2.78
7.395
11.18
17.64
12.805

0.994
1.008
1.041
1.038
1.023
1.029

1216.5

1208.65

1207.22

1.43

1.036

1190.95

1210.04

1210.4

-0.36

1.011

1195.3

1208.86

1212.91

-4.05

1.007

1231.75

1208.07

1211.765

-3.695

1.019

1209.8

1209.24

1205.53

3.71

0.989

1212.55

1202.41

1197.045

5.365

0.990

1196.8
1161.15

1184.05
1164.99

1186.925
1177.38

-2.875
-12.39

0.984
0.955

34

10
21-Jan10
22-Jan10
25-Jan10
27-Jan10
28-Jan10
29-Jan10
1-Feb-10
2-Feb-10
3-Feb-10
4-Feb-10
5-Feb-10
6-Feb-10
8-Feb-10
9-Feb-10
10-Feb10
11-Feb10
15-Feb10
16-Feb10
17-Feb10
18-Feb10
19-Feb10
22-Feb10
23-Feb10
24-Feb10
25-Feb10
26-Feb10
2-Mar-10
3-Mar-10
4-Mar-10
5-Mar-10
8-Mar-10
9-Mar-10
10-Mar10
11-Mar10
12-Mar10

1139.95

1146.69

1169.175

-22.485

0.957

1114.5

1129.11

1159.88

-30.77

0.932

1121.05

1117.35

1146.345

-28.995

0.910

1108.9

1108.64

1135.52

-26.88

0.917

1102.35

1106.05

1124.775

-18.725

0.909

1096.4
1101.55
1105.1
1133.8
1139.6
1087.65
1092.25
1118.15
1106.25

1102.86
1107.84
1115.29
1113.54
1111.68
1114.29
1108.78
1098.26
1100.78

1118.475
1116.32
1111.09
1108.865
1108.575
1108.31
1106.775
1107.16
1105.835

-15.615
-8.48
4.2
4.675
3.105
5.98
2.005
-8.9
-5.055

0.916
0.949
0.969
1.017
1.017
0.981
0.991
1.020
1.004

1087

1099.99

1105.625

-5.635

0.984

1100.25

1096.96

1102.215

-5.255

0.970

1088.3

1095.65

1098.605

-2.955

0.955

1103

1098.95

1100.82

-1.87

1.014

1099.7

1100.86

1102.345

-1.485

1.007

1103.5

1104.7

1100.68

4.02

0.987

1109.8

1104.4

1100.18

4.22

1.003

1107.5

1104.71

1102.465

2.245

1.019

1101.5

1105.98

1104.2

1.78

1.001

1101.25

1107.54

1106.275

1.265

1.012

1109.85

1107.85

1106.06

1.79

1.006

1117.6
1109.05
1100.85
1095.05
1094.5
1100.5
1096.2

1107.72
1106.48
1103.41
1099.99
1097.42
1094.96
1092.7

1105.595
1104.695
1103.765
1102.635
1101.34
1099.59
1097.075

2.125
1.785
-0.355
-2.645
-3.92
-4.63
-4.375

1.016
1.005
0.992
0.989
0.994
0.999
0.988

1088.55

1090.74

1092.295

-1.555

0.974

1083.75

1084.6

1088.5

-3.9

0.977

1084.7

1079.58

1085.765

-6.185

0.985

35

15-Mar10
16-Mar10
17-Mar10
18-Mar10
19-Mar10
22-Mar10
23-Mar10
25-Mar10
26-Mar10
29-Mar10
30-Mar10
31-Mar10
1-Apr-10
5-Apr-10
6-Apr-10
7-Apr-10
8-Apr-10
9-Apr-10
12-Apr-10
13-Apr-10
15-Apr-10
16-Apr-10
19-Apr-10
20-Apr-10
21-Apr-10
22-Apr-10
23-Apr-10
26-Apr-10
27-Apr-10
28-Apr-10
29-Apr-10
30-Apr-10
3-May-10
4-May-10
5-May-10
6-May-10
7-May-10
10-May10
11-May10
12-May10
13-May-

1069.8

1076.57

1081.68

-5.11

0.977

1071.1

1070.66

1077.915

-7.255

0.979

1073.5

1065.09

1073.78

-8.69

0.975

1054.2

1062.96

1071.085

-8.125

0.962

1056.85

1062.59

1067.895

-5.305

0.971

1059.15

1059.22

1067.51

-8.29

0.977

1069.25

1064.36

1068.345

-3.985

0.986

1056.65

1071.6

1071.095

0.505

0.988

1079.9

1079.23

1073.855

5.375

1.008

1093.05

1085.12

1074.95

10.17

1.018

1097.3

1090.68

1079.225

11.455

1.041

1098.7
1084.45
1096.95
1084.85
1082.9
1061.6
1063.8
1052.9
1040.35
1039.65
1031.4
1003.8
1002.5
1009.7
1015.1
1017.9
1017.75
1044.9
1040.1
1046.85
1054.8
1047.6
1043.8
1031.05
1042.85
1044.7

1094.09
1092.45
1089.57
1082.15
1078.02
1069.21
1060.31
1051.66
1045.62
1033.62
1023.54
1017.41
1012.5
1009.8
1012.59
1021.07
1027.15
1033.5
1040.88
1046.85
1046.63
1044.82
1044.02
1042
1042.66
1039.89

1082.025
1084.4
1083.635
1084.35
1081.65
1076.38
1070.615
1063.885
1055.82
1046.375
1038.86
1032.08
1027.71
1023.105
1022.305
1022.28
1023
1025.34
1029.72
1033.85
1035.985
1038.76
1041.44
1044.755
1043.26
1042.045

12.065
8.05
5.935
-2.2
-3.63
-7.17
-10.305
-12.225
-10.2
-12.755
-15.32
-14.67
-15.21
-13.305
-9.715
-1.21
4.15
8.16
11.16
13
10.645
6.06
2.58
-2.755
-0.6
-2.155

1.040
1.024
1.026
1.027
1.003
0.971
0.969
0.958
0.959
0.948
0.951
0.927
0.944
0.949
0.964
0.978
0.979
1.013
1.036
1.044
1.045
1.032
1.025
1.013
0.998
1.004

1050.9

1039.27

1041.95

-2.68

1.004

1029.95

1039.88

1040.925

-1.045

0.976

1027.95
1045.9

1039.85
1035.07

1038.865
1039.62

0.985
-4.55

0.981
1.002

36

10
14-May10
17-May10
18-May10
19-May10
20-May10
21-May10
24-May10
25-May10
26-May10
27-May10
28-May10
31-May10
1-Jun-10

1044.55

1039.35

1039.025

0.325

1.013

1027

1038.78

1046.605

-7.825

0.985

1051.35

1053.33

1051.61

1.72

1.006

1025.1

1063.37

1054.72

8.65

0.975

1118.65

1074.37

1059.755

14.615

1.086

1094.75

1080.16

1063.96

16.2

1.065

1082

1089.14

1071.69

17.45

1.035

1080.3

1090.05

1080.44

9.61

1.034

1070

1097.51

1094.51

3

1.042

1123.2

1114.65

1103.94

10.71

1.068

1132.05

1127.72

1001.43

126.29

1.104

1167.7
1145.65

913.72
689.08

889.565
780.09

24.155
-91.01

1.044
1.046

TABLE SHOWIRNG RSI

37

Date

Close Price

1-Jun-09

1176.7

2-Jun-09

1163.85

3-Jun-09

1168.25

4-Jun-09

1169.35

5-Jun-09

1181.8

8-Jun-09

1113.55

9-Jun-09
10-Jun09
11-Jun09
12-Jun09
15-Jun09
16-Jun09
17-Jun09
18-Jun09
19-Jun09
22-Jun09
23-Jun09
24-Jun09
25-Jun09
25-Jun09
26-Jun09
29-Jun09
30-Jun09

1132.15

1-Jul-09

1051.6

2-Jul-09

1126.6

3-Jul-09

1136.15

6-Jul-09

1069.75

7-Jul-09

1049.45

8-Jul-09

1010.75

9-Jul-09

998.35

10-Jul-09

986.6

13-Jul-09

991.3

1166.1
1120.55
1127.05
1125.45
1126.75
1061.2
1007.65
1009.35
993.85
1026.7
1050.95
1033
1019.7
1044.6
1065.95
1067.3

GAIN

LOSS

6 DAYS
M.AVG.
GAIN

6 DAYS
M. AVG.
LOSS

RS

RSI

0

-12.85

4.4

0

1.1

0

12.45

0

0

-68.25

18.6

0

6.092

13.52

0.45

31.067

33.95

0

11.750

11.38

1.03

50.811

0

-45.55

11.017

18.97

0.58

36.743

6.5

0

11.917

18.97

0.63

38.586

0

-1.6

9.842

19.23

0.51

33.849

1.3

0

10.058

7.86

1.28

56.140

0

-65.55

6.958

18.78

0.37

27.031

0

-53.55

1.300

27.71

0.05

4.481

1.7

0

1.583

20.12

0.08

7.296

0

-15.5

0.500

22.70

0.02

2.155

32.85

0

5.975

22.43

0.27

21.033

24.25

0

9.800

22.43

0.44

30.403

0

-17.95

9.800

14.50

0.68

40.329

0

-13.3

9.800

7.79

1.26

55.708

24.9

0

13.667

7.79

1.75

63.689

21.35

0

17.225

5.21

3.31

76.783

1.35

0

11.975

5.21

2.30

69.690

0

-75

7.933

17.71

0.45

30.939

75

0

20.433

14.72

1.39

58.132

9.55

0

22.025

12.50

1.76

63.794

0

-66.4

17.875

23.57

0.76

43.133

0

-20.3

14.317

26.95

0.53

34.693

0

-38.7

14.092

33.40

0.42

29.672

0

-12.4

14.092

22.97

0.61

38.026

0

-11.75

1.592

24.93

0.06

6.003

4.7

0

0.783

24.93

0.03

3.047

8.4

0

382.183

13.86

0.16

13.610

39.7

0

8.800

10.48

0.84

45.655

ANALYSIS AND INTERPRETATION
ONGC (OIL AND NATURAL GAS CORPORATION)
Analysis through MACD
55
55
55
55

5/
5/
6/ 5 5 5
66 5
/6
5 / 66
55 6
/
5 / 5 55
55 5
/5
5 / 55
55 5
/5
5 / 55
55 5
/
6/ 5 5 5
66 5
/6
5 / 66 6
5/
5 / 55 5
55 5
/5
66 5 5
/6 5
5 5 / 66
/5
6
5/ 6
5
5 5 5 55
/5
5 5 /5 5
/5
55
5
5 5 /55
/ 5 55
5
66 / 5 5
/ 6 55
6
5 5 / 66
/ 5 66
5/
5 / 55 5
55 5
/5
6/ 5 5
66 5
/6
5 / 66 6
5/
5 / 55 5
55 5
/5
5
5/ 55
5/
5 / 55 5
55 5
/5
5 / 55 5
5/
5 / 55 5
55 5
/5
5
5/ 55
5/
5
5/ 55
55 5
/5
55
5

5

MACD

-55
-55
-55
-55
-55

Figure 2.1 ONGC MACD
The figure 2.1 show the following analysis and trend

During the following period the MACD line from a of peak point giving a signal

of trend reversal , i.e. is conversion of a bullish market into a bearish market
39

25 June 2009, 3 July 2009, 24 July 2009, 4 Aug. 2009, 17 Aug. 2009
9 Sep. 2009, 14 Oct 2009, 11 Nov 2009, 7 Jan 2010, 31 March 2010, 24 May 2010

During the following period the MACD line form a trough , i.e. trend reversal

takes place and a bearish market starts converting into a bullish market

13 July 2009,

10 Aug 2009,

21 Aug 2009,

22 Jan 2010,

8 March 2010,

20 Apr. 2010

22 Oct. 2009,

During the following periods MACD line moves above zero but is falling

giving signal of bearish market
24 Aug. 2009 to 28 Aug 2009,
27 Nov. 2009 to 4 Dec.2009,

9 sep. 2009 to 14 sep. 2009
2 Feb. 2010 to 8 Feb. 2010

During the following periods MACD line moves below zero but is rising giving

signal of bullish market ahead
18 June 2009 to 25 June 2009,

10 July 2009 to 24 July 2009

20 Apr. 20010 to 28 Apr. 2010 ,

40

ANALYSIS THROUGH ROC
5 .5 5

5 .5

5 .5 5

5

ROC
6 .66

6 .6

6 .66

6/ 1/ 2
0 09
6/ 16/
2 009
7/ 1/ 2
0 09
7/ 16/
2 009
7/ 31 /
2 009
8/ 15/
2 009
8/ 30/
2 009
9 / 14/
2 009
9 / 29 /
2 009
1 0/ 1 4
/ 2009
1 0/ 2 9
/ 2009
1 1/1 3
/ 2009
1 1/ 2 8
/ 2009
1 2/ 1 3
/ 2009
1 2/ 2 8
/ 2009
1 /12 /
2 01 0
1 / 27/
2 01 0
2 /11 /
2 01 0
2 / 26/
2 01 0
3/ 13/
2 01 0
3/ 28/
2 01 0
4/ 12 /
2 01 0
4/ 27/
2 01 0
5/ 12 /
2 01 0
5/ 27/
2 01 0

6 .6

The figure 2.2 shows the following analysis and trend
it is shown the figure thet the roc line moves between 1.15 to .85
market ,which is the indication of some upward and downward
fluctuation in the price of the scrip over a period of 1 june 2009
to 31 may 2010 .

41

On the following instences ROC line touched its extreme(peak
formulation ) whole of the year , it signifies the overbought market(bearish
market trend )

3 jule 2009

,

22 july 2009

,

21 aug 2009

15 oct 2009 ,

14 may 2010

,

26 may 2010

on the following instant ROC line touched its bottom during of the year , so
these were the point of oversold market for the scrip ;

19 jun 2009 ,
28 jan. 2010 ,

13 and 14 july 2009 ,
11 may 2010 ,

28 oct. 2009 ,
19 may. 2010

during the following intervals ROC line declined from its extreme toward
one mark line , which significance the bearish trend in the market for the
scrip ;

3 june 2009 to 7 june 2009
22 june 2009 to 12 aug 2009
21 aug 2009 to 3 sep. 2009
15 oct. 2009 to 28 oct. 2009

during the following intervals ROC line decline from the one mark toward
its bottom , which significance the selling pressure in the market for the
scrip (sell signal);

1 july 2009 to 16 july 2009
20 oct 2009 to 6 nov. 2009
42

14 jan. 2010 to 2 feb. 2010
2 march.2010 to 25 feb. 2010
8 apr. 2010 to 26 apr.2010

during the following intervals ROC line rise toward on mark line after
reaching its bottom ,which signifies the conversion of selling pressure into
buying pressure (buy signal )

19 jun 2009 to 26 jun 2009
13 july 2009 to 16 july 2009
28 oct. 2009 to 09 nov. 2009
28 jan 2010 to 3 feb. 2010
11 may 2010 to 13 may 2010

ANALYSIS THROUGH RSI

43

555

555

55

RSI

55

55

55

6/ 1/
20 09
6/ 15
/ 2 00
9
6/29
/ 2 00
9
7/13
/ 2 00
9
7/27
/ 2 00
9
8 /10
/ 2 00
9
8/ 24
/ 2 00
9
9 / 7/
20 09
9 /21
/ 2 00
9
1 0/5
/ 2 00
9
1 0/ 1
9 /20
09
1 1 /2
/2 00
9
1 1 /1
6/20
09
1 1/ 3
0/ 20
09
1 2/1
4/20
09
1 2/ 2
8 /20
09
1 / 11
/2 01
0
1 /25
/ 2 01
0
2 /8/
20 1 0
2 / 22
/ 2 01
0
3/8/
20 1 0
3/ 22
/2 01
0
4/5/
20 1 0
4/ 19
/2 01
0
5/3/
2 01 0
5/ 17
/2 01
0
5/ 31
/2 01
0

5

The figure 2.2 shows the following analysis and trend

Over bought market for the script as soon as RSI crosses 70 mark line it
signifies the overbought market and sooner peak point touched and market
will be bearish
On 26 jan.2009 Point cross 70 mark line and touched peak point 84 and
soon it sign to go for bearish market in 30 point
Also 17 july cross 70 and ptouched peak point 84
On 7 oct. 2009 it cross 70 mark line and touched peak point 98 and trend to
bearish on 17 july in 15 point

over sold market for the scrip during the following period whenever
market touched the 30 mark line it indicate to go bottom and sooner trefnd
to bullish market

16 jan 2009 ,

31 aug 2009

, 11 sep. 2009 , 17 oct. 2009 20 jan 2010 ,

5 march 2010

44

during the following periods rsi line moved dowenward in the 70 -30 and
gave clear sell signal

26 june 2009 to 10 july 2010
13 aug 2009 to 2 sep. 2009
16 oct 2009 to 27 oct. 2009
13 jan 2010 to 28 jan 2010
3 feb. 2010 to 21 feb. 2010

TECHNICAL ANALYSIS THROUGH CHART PATTERN
Different chart pattern help to predict the trend

header and shoulder

inverse head and shoulder

tringle

flag

head and shoulder
45

5555
5555
5555
5555
5555
5555
5555
555

01 0

10

01 0
5/ 31 /
2

5/ 17/
2

5/3/ 2
0

10

01 0

4/5/ 2
0

4/ 19 /
2

10

01 0

3/8/ 2
0

3/22 /
2

0 10

2 01 0
2 / 22 /

2 01 0

2 / 8/ 2

2 01 0

1 /25/

/ 2009

1 / 11 /

1 2/ 2 8

/ 2009
1 2/ 1 4
/ 2009

1 1/ 30

1 1/ 2 /
2 009
1 1/1 6
/ 2009

2 009

/ 2009

1 0/ 5/

1 0/ 1 9

0 09

2 009
9 / 21 /

2 009

9 /7/ 2

8/ 24/

009

2 009

8 / 1 0/

009

7/27/
2

009

7/13/
2

6/29 /
2

09
6/ 1/ 2
0

6/15/
2

009

555

the above circle in the following figure shows the head and shoulder shape which
indiacate a bullish market to shoulder and then go downward then again go upward then
shoulder to hed and again down ard to shoulder

INVERSE HEAD AND SHOULDER
Bleak circle shows the inverse head and soulder which indicate the revrse trend of head
and shoulder

FLAG

46

5555
5555
5555
5555
5555
5555
5555
555

01 0

5/ 31 /
2

10

01 0
5/ 17/
2

5/ 3/ 2
0

10

01 0

4/ 5/ 2
0

4/19 /
2

10

01 0

3/8/ 2
0

3/22 /
2

010

2 01 0
2 / 22 /

2 01 0

2 /8/ 2

2 01 0

1 / 25/

/2009

1 / 11 /

1 2/ 2 8

/2009
1 2/1 4
/2009

1 1/ 30

2 009
1 1/1 6
/ 2009

/ 2009

1 1/ 2 /

1 0/1 9

2 009

0 09

2 009
1 0/ 5/

9 / 21 /

2 009

9 / 7/ 2

8/24/

009

009

009

2 009

8 / 1 0/

7/27/
2

7/ 13/
2

009

6/ 29 /
2

6/ 1/ 2
0

6/ 15/
2

09

555

A flag movement shown in the figure identify as a narrow movement of the market
either after an upward or a douwnward . and the position of market chang vise werse in
a flag movement

All the chart pattern shown the trend under the SUPPORT LEVEL and
RESSISTENCE LEVEL
Bottom line in the figure shows the support line and upper line shows the ressistence
lavel
And they keep the movement of price lable under the suppert line and ressistence line
wich shown in the below figure b red line

47

/ 2009

2 009

2 009

CONCLUSION

48

5/ 31 /
2

5/ 17/
2

01 0

01 0

10

01 0
5/ 3/ 2
0

4/ 19 /
2

10

01 0
4/ 5/ 2
0

3/ 22 /
2

10

2 01 0
3/ 8/ 2
0

2 / 22 /

0 10

2 01 0
2 / 8/ 2

1 / 25/

2 01 0

/ 2009
1 / 11 /

1 2/ 2 8

/ 2009
1 2/ 1 4
/ 2009

1 1/ 30

1 1/ 2 /
2 009
1 1/1 6
/ 2009

1 0/ 1 9

1 0/ 5/

9 / 21 /

0 09

2 009

2 009

009

009

009

9 / 7/ 2

8/ 24/

8 / 1 0/

7/ 27/
2

7/ 13/
2

6/ 29 /
2

09

009

6/ 1/ 2
0
6/ 15/
2

5555

5555

5555

5555

5555

5555

5555

555

555

Thus from the analysis of the calculation and interpretation made one can conclude the
most of the time the technical analysis gives true result however RSI and ROC gives more
accurate result, but MACD also able to interpret the market trend most of the time. there are
however technical correction in the market from time to time, which has been mention
earlier. In the whole of the year it presents a flag condition according to chart pattern. And
level of closing price of stock increasing in middle year.
Although technical analysis is 90 percent psychological and 10 percent
logical it does give signals of market trend in future accept in some cases whenever the
MACD line is rising prices so a bullish market and after the peak is formed the marked
moves an opposite direction and prices starts declining similarly whenever ROC is at the
bottom trend reversal take place an market starts becoming bullish again similarly if it is a
1-

mark line but declining it signifies the bearish trend in the market for the scrip

and vies- verse whenever RSI crosses the 50 mark line it signified a bullish market
ahead for the scrip as soon as RSI crosses 70 mark line it signifies the overbought
market now it is expected that the peak will be touched . thus be can conclude that the
three oscillators RSI , ROC and MACD are very helpful tools of technical analysis
which help in depicting the future market .

49

LIMITATION OF THE RESEARCH•

Technical analysis is usually undertaken after taking historical data of share

price of company of longer period, only one year data has been taken by the
researchers.

The market of share also get effected by happening of the political and

economic factors or fundamental of the company, i.e. changes in the intrinsic value of
the share, hence all the deviation cannot be contributed to the market sentiments.

Oscillators are only a tool for technical analysis and cannot be used without

considering other tools. There are several oscillators but only the measure one were
selected to interpret the market trend.

The trend may not hold true in circumstances’ involving profit taking, short

selling or any other scams.

50

RECOMMENDATIONS

.
1] Through this research we recommend that people should aware of present
situation of stock market.
2] Financial Advisors should help investors to hedge and protect their portfolio
from market uncertainties by building and exiting from positions in time to clock
profits.
3].Enables investors to profit from research findings and analysis that are
inaccessible to the lay investor.
4]. Steps should be taken to Manage portfolio in accordance with present
situations.

51

Bibliography:
Books Business Research Methodology:

William G. Zikmund

 Investment management and security analysis

Newspaper The Economics Times
 The Hindustan Times
 Business Standered

Software Microsoft Excel
 Microsoft Word
 Ms-paint

Websites-

52

Dhanesh Kumar Khatri


Search Engine for Key words: www.google.com,
www.nseindia.com

www.bseindia.com

www.ezinerticles.com

www.moneycotrol.com

www.money.reddif.com

www.valuenotes.com

www.myiris.com

www.optiontradingpedia.com

Submitted By-

Deepak Sen

Dheeraj Kacher
53

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