Technical Analysis of Commonditie. (Gold, Silver, Zinc & Crude Oil) at Motilal Oswal Securities LTD

TECHNICAL ANALYSIS OF COMMONDITIE.
(GOLD, SILVER, ZINC & CRUDE

OIL) AT MOTILAL OSWAL SECURITIES LTD.
INTRODUCTION
SVM IMS MBA COLLEGE ILKAL Page 1

TECHNICAL ANALYSIS OF COMMONDITIE. (GOLD, SILVER, ZINC & CRUDE
BACKGROUND OF THE STUDY:
Technical Analysis
Technical analysis is a security analysis discipline for forecasting the future direction of
prices through the study of past market data, primarily price and volume.
General Description
Technical analysts seek to identify price patterns and trends in financial markets and attempt
to exploit those patterns. While technicians use various methods and tools, the study of price
charts is primary
Technical analysis also extensively uses indicators, which are typically mathematical
transformations of price or volume. These indicators are used to help determine whether an
asset is trending, and if it is, its price direction. Technicians also look for relationships
between prices, volume and, in the case of futures, open interest. Examples include the
relative strength index, and MACD. Other avenues of study include correlations between
changes in options (implied volatility) and put/call ratios with price. Other technicians
include sentiment indicators, such as Put/Call ratios and Implied. Volatility is there in
analysis.
Technicians seek to forecast price movements such that large gains from successful trades
exceed more numerous but smaller losing trades, producing positive returns in the long run
through proper risk control and money management.
The technical analysis look at the price movement that occur on day to day or week to week
or over the other constant tie period displayed in graphic from, called charts. For the purpose
of the study on commodities (Gold, Silver, Crude oil and Zinc) have been selected which is
listed in Multi Commodity Exchange (MCX). The technical analysis was done by using
Oscillator tools like Moving Average Convergence and Divergence (MACD), Relative
Strength Index (RSI), Bollinger Band, Rate of change, Double Average, Candlestick, Pivot
Study and Stochastic.

STATEMENT OF PROBLEM
Technical analysis is very important to invest smartly. Every investor would like to
have handful information to direction of price movement.
 On what type of security to invest?

 When it should be bought?
 When it should be sold?
 Whether to hold the security?
The basic idea behind the research is to make buy, hold and sell decisions of stocks.
To make this decision one should have sound information base. The increasing trend
towards complexity in investment decisions calls for security analysis.
OBJECTIVES OF STUDY
 To study the applicability of technical analysis of the commodity market.

 To know how various tools of technical analysis such as charts and graphs are
used for determining stock prices.
 To make buy, hold or sell decisions.
 To know how to use charting techniques to identify, buy and sell opportunities.
 To study the Indian commodity movements taking Gold, Silver, Zinc and Crude
Oil.

1. LITERATURE REVIEW
Several studies have been carried out to apply Technical Analysis in practice in various
financial markets. A few of them are quoted below:
Kavajecz and Odders -White (2004) show that support and resistance levels coincide with
peaks in depth on the limit order book 1 and moving average forecasts reveal information
about the relative position of depth on the book. They also show that these relationships stem
from technical rules locating depth already in place on the limit order book. Practitioners’
reliance on technical analysis is well documented. Frankel and Froot(1990) noted that market
professionals tend to include technical analysis in forecasting the market.
The guiding principle of technical analysis is to identify and go along with the trend. When
there is a trend, whether started by random or fundamental factors, technical methods will
tend to generate signals in the same direction. This reinforces the original trend, especially
when many investors rely on the technical indicators. Thus, even if the original trend were a
random occurrence, the subsequent prediction made by the technical indicate or could be self-
fulfilling. This self-fulfilling nature leads to the formation of speculative bubbles (see, for
example, Froot etal., 1992). Conrad and Kaul (1988)found that weekly returns were
positively autocorrelated, particularly for portfolios of small stocks.
Lui and Mole (1998) report the results of a questionnaire survey conducted in February 1995
on the use by foreign exchange dealers in Hong Kong of fundamental and technical analyses.
They found that over 85% of respondents relyon both methods and, again, technical analysis
was more popular at shorter time horizons. This paper aims at carrying out Technical
Analysis of the securities of the selected companies in Indian stock market.

RESEARCH METHODOLOGY:
RESEARCH DESIGN:
Descriptive research design is adopted to learn in details the technical analysis to predict the
short term price movements and establish long term patterns. Quantitative techniques are
used to analyze the technical indicators.
DATA SOURCES:
Secondary data are collected from Books, journals, News Paper and Websites. The data
collected is then analyzed using the following methods.
DATA ANALYSIS TOOLS:
 MS-EXCEL
 Using stock exchange market data (Indicates).
THEROTICAL PART:
 PIVOT POINT
1) The Pivot is an important value here.
2) Look at the price of stock/ underlying at 10.25-10.30 am. (Half hour after market
opens).
3) For support and resistance value, you can choose normal values or Fibonacci
values. Both give good result; it depends upon you which suit you.
4) Keep a target of 0.75%and 1% and put stop loss at 0.5%.
5) There are various scenarios which can occur at 10.25-10.30 am.
1. The price is below the Pivot but above S1.

In this scenario, you should buy stock above Pivot (If price reaches above Pivot)
and sell below the S1 (If price goes below S1).

2. The price is above the Pivot but below R1.

In this scenario, you should buy the stock or underlying above Pivot (If price
reaches above Pivot) and sell below the R1 (If price goes below Pivot).
3. The price is very near to Pivot (+/- 0.02)

In this scenario, you should buy the stock or underlying above R1 (if the price
reaches above R1) and sell below S1 (if the price reaches below S1).
4. The price is between R1 and R2

In this scenario, you should buy the stock or underlying above R2 (If the price
reaches above R2) and sell below Pivot (If the price reaches below Pivot). The
important here is not to sell below R1. You must sell below Pivot.
5. The price is between S1 and S2

In this scenario, you should buy the stock or underlying above Pivot (If price
reaches above Pivot) and sell below S2 (If the price reaches below S2). The
important here is not to buy above S1, buy only above pivot.
6. The prices is between S2 and S3

Same rule applies as rule 5. Buy above pivot sell below S3.
7. The price is between R2 and R3

Same rule applies as rule 4. Buy above R3 and sell below pivot

 MACD
MACD is an acronym for Moving Average Convergence Divergence. This tool is used to
identify moving averages that are indicating a new trend, whether it’s bullish or bearish.
After all, our #1 priority in trading is being able to find a trend, because that is where the
most money is made.
With an MACD chart, you will usually see three numbers that are used for its settings.
 The first is the number of periods that is used to calculate the faster moving average.
 The second is the number of periods that are used in the slower moving average.
 And the third is the number of bars that is used to calculate the moving average of the
difference between the faster and slower moving averages.
For example, if you were to see “12,26,9” as the MACD parameters (which is usually the
default setting for most charting packages), this is how you would interpret it:
 The 12 represents the previous 12 bars of the faster moving average.

 The 26 represents the previous 26 bars of the slower moving average.

 The 9 represents the previous 9 bars of the difference between the two moving
averages. This is plotted by vertical lines called a histogram (The blue lines in the
chart above).
There is a common misconception when it comes to the lines of the MACD. The two lines
that are drawn are NOT moving averages of the price. Instead, they are the moving averages
of the DIFFERENCE between two moving averages.
In our example above, the faster moving average is the moving average of the difference
between the 12 and 26 period moving averages. The slower moving average plots the average
of the previous MACD line. Once again, from our example above, this would be a 9 period
moving average.
This means that we are taking the average of the last 9 periods of the faster MACD line, and
plotting it as our “slower” moving average.
What this does is it smoothes out the original line even more, which gives us a more accurate
line.
The histogram simply plots the difference between the fast and slow moving average. If you
look at our original chart, you can see that as the two moving averages separate, the
histogram gets bigger. This is called divergence, because the faster moving average is
“diverging” or moving away from the slower moving average.

 MACD Crossover
Because there are two moving averages with different “speeds”, the faster one will obviously
be quicker to react to price movement than the slower one. When a new trend occurs, the fast
line will react first and eventually cross the slower line. When this “crossover” occurs, and
the fast line starts to “diverge” or move away from the slower line, it often indicates that a
new trend has formed.
From the chart above, you can see that the fast line crossed under the slow line and correctly
identified a new downtrend. Notice that when the lines crossed, the histogram temporarily
disappears. This is because the difference between the lines at the time of the cross is 0. As
the downtrend begins and the fast line diverges away from the slow line, the histogram gets
bigger, which is good indication of a strong trend.
There is one drawback to MACD. Naturally, moving averages tend to lag behind price.
After all, it's just an average of historical prices. Since the MACD represents moving
averages of other moving averages and is smoothed out by another moving average, you can
imagine that there is quite a bit of lag. However, it is still one of the most favored tools by
many traders.

 Bollinger Bands
Congratulations on making it to the 5th grade! Each time you make it to the next grade you
continue to add more and more tools to your trader’s toolbox. “What’s a trader’s toolbox?”
you say… Simple! Your trader’s toolbox is what you will use to “build” your trading
account. The more tools (education) you have in your trader’s toolbox (YOUR BRAIN), the
easier it will be for you to build.
Bollinger Band
Bollinger band are used to measure a market’s volatility. Basically, this little tool tells us
whether the market is quiet or whether the market is LOUD! When the market is quiet, the
bands contract and when market is LOUD the bands expand. Notice on the chart below that
when the price was quiet, the bands were close together, but when the price moved up, the
bands spread apart.
That’s all there is to it. Yes, we could go on and bore you by going into the history of the
Bollinger band, how it is calculated, the mathematical formulas behind it, and so on and so
forth, but we really didn’t feel like typing it all out in all honesty, you don’t need to know any
of that junk. We think it’s more important that we show you some ways you can apply the
Bollinger bands to your trading.

The Bollinger Bounce

One thing you should know about Bollinger Bands is that price tends to return to the middle
of the bands. That is the whole idea behind the Bollinger bounce (smart, huh?). If this is the
case, then by looking at the chart below, can you tell us where the price might go next?
If you said down, then you are correct! As you can see, the price settled back down towards
the middle area of the bands
That’s all there is to it. What you just saw was a classic Bollinger bounce. The reason these
bounces occur is because Bollinger Bands act like mini support and resistance levels . The
longer the time frame you are in, the stronger these bands are. Many traders have developed
systems that thrive on these bounces, and this strategy is best used when the market is
ranging and there is no clear trend.
Now let’s look at a way to use Bollinger Bands when the market does trend.

Bollinger Squeeze
The Bollinger squeeze is pretty self explanatory. When the bands “squeeze” together, it
usually means that a breakout is going to occur. If the candles start to break out above the top
band, then the move will usually continue to go up. If the candles start to break out below the
lower band, then the move will usually continue to go down
Looking at the chart above, you can see the bands squeezing together. The price has just
started to break out of the top band. Based on this information, where do you think the price
will go?
If you said up, you are correct! This is how a typical Bollinger Squeeze works. This strategy
is designed for you to catch a move as early as possible. Setups like these don’t occur every
day, but you can probably spot them a few times a week if you are looking at a 15 minute

chart. So now you know what Bollinger Bands are, and you know how to use them. There are
many other things you can do with Bollinger Bands, but these are the 2 most common
strategies associated with them.
 Parabolic SAR
Up until now, we’ve looked at indicators that mainly focus on catching the beginning of new
trends. And although it is important to be able to identify new trends, it is equally important
to be able to identify where a trend ends. After all, what good is a well-timed entry without a
well-timed exit?
One indicator that can help us determine where a trend might be ending is the Parabolic SAR
(Stop and Reversal). A Parabolic SAR places dots, or points, on a chart that indicate
potential reversals in price movement. From the chart above, you can see that the dots shift
from being below the candles during the uptrend, to above the candles when the trend
reverses into a downtrend.
Using Parabolic SAR
The nice thing about the Parabolic SAR is that it is really simple to use. Basically, when the
dots are below the candles, it is a buy signal; and when the dots are above the candles, it is a
sell signal. This is probably the easiest indicator to interpret because it assumes that the price
is either going up or down. With that said, this tool is best used in markets that are trending,
and that have long rallies and downturns. You DON’T want to use this tool in a choppy
market where the price movement is sideways.

 Stochastic
Stochastic are another indicator that helps us determine where a trend might be ending. By
definition, a stochastic is an oscillator that measures overbought and oversold conditions in
the market. The 2 lines are similar to the MACD lines in the sense that one line is faster than
the other.
How to Apply Stochastic
Like I said earlier, stochastic tells us when the market is overbought or oversold. Stochastics
are scaled from 0 to 100. When the stochastic lines are above 80 (the red dotted line in the
chart above), then it means the market is overbought. When the stochastic lines are below 20
(the blue dotted line), then it means that the market is oversold. As a rule of thumb, we buy
when the market is oversold, and we sell when the market is overbought.

Looking at the chart above, you can see that the stochastic has been showing overbought
conditions for quite some time. Based upon this information, can you guess where the price
might go?
If you said the price would drop, then you are absolutely correct! Because the market was
overbought for such a long period of time, a reversal was bound to happen. That is the basics
of stochastic. Many traders use stochastic in different ways, but the main purpose of the
indicator is to show us where the market is overbought and oversold. Over time, you will
learn to use stochastic to fit your own personal trading style.

Relative Strength Index
Relative Strength Index or RSI is similar to stochastic in that it identifies overbought and
oversold conditions in the market. It is also scaled from 0 to 100. Typically, readings below
30 indicate oversold while readings over 70 indicate overbought.
Using of RSI
RSI can be used just like stochastic. From the chart above you can see that when RSI
dropped below 30, it correctly identified an oversold market. After the drop, the price
quickly shot back up.
RSI is a very popular tool because it can also be used to confirm trend formations. If you
think a trend is forming, take a quick look at the RSI and look at whether it is above or below
50. If you are looking at a possible uptrend, then make sure the RSI is above 50. If you are
looking at a possible downtrend, then make sure the RSI is below 50

In the beginning of the chart above, we can see that a possible uptrend was forming.
To avoid fadeouts, we can wait for RSI to cross above 50 to confirm our trend. Sure
enough, as RSI passes above 50, it is a good confirmation that an uptrend has actually
formed.
Elliott Wave Theory

Elliott explained that the upward and downward swings of the mass psychology
always showed up in the same repetitive patterns, which were then divided into
patterns he called "waves". He needed to claim this observation and so he came up
with a super original name:
The Elliott Wave Theory.
The 5 – 3 Wave Patterns
Mr. Elliott showed that a trending market moves in what he calls a 5-3 wave pattern.
The first 5-wave pattern is called impulse waves and the last 3-wave pattern is called
corrective waves.

Let’s first take a look at the 5-wave impulse pattern. It’s easier if you see it as a
picture:
That still looks kind of confusing. Let’s splash some color on this bad boy.
Here is a short description of what happens during each wave. I am going to use
stocks for my example since stocks is what Mr. Elliott used but it really doesn’t
matter what it is. It can easily be currencies, bonds, gold, oil, or Tickle Me Elmo
dolls. The important thing is the Elliott Wave Theory can also be applied to the
foreign exchange market.
Wave1

The stock makes its initial move upwards. This is usually caused by a relatively small
number of people that all of the sudden (for a variety of reasons real or imagined) feel
that the price of the stock is cheap so it’s a perfect time to buy. This causes the price
to rise.
Wave 2
At this point enough people who were in the original wave consider the stock
overvalued and take profits. This causes the stock to go down. However, the stock
will not make it to its previous lows before the stock is considered a bargain again.
Wave 3
This is usually the longest and strongest wave. The stock has caught the attention of
the mass public. More people find out about the stock and want to buy it. This causes
the stock’s price to go higher and higher. This wave usually exceeds the high created
at the end of wave 1.
Wave 4
People take profits because the stock is considered expensive again. This wave tends
to be weak because there are usually more people that are still bullish on the stock and
are waiting to “buy on the dips”.
Wave 5
This is the point that most people get on the stock, and is most driven by hysteria.
You usually start seeing the CEO of the company on the front page of major
magazines as the Person of the Year. People start coming up with ridiculous reasons
to buy the stock and try to choke you when you disagree with them. This is when the
stock becomes the most overpriced. Contrarians start shorting the stock which starts
the ABC pattern.
ABC Correction
The 5-wave trends are then corrected and reversed by 3-wave countertrends. Letters
are used instead of numbers to track the correction. Check out this example of
smokin’ hot 3-wave corrective wave pattern!

For example, if you were to see “12,26,9” as the MACD parameters (which is usually
the default setting for most charting packages), this is how you would interpret it:
Just because I’ve been using a bull market as my primary example doesn’t mean the
Elliot Wave Theory doesn’t work on bear markets. The same 5 – 3 wave patterns can
look like this
Waves within a Wave

The other important thing you have to know about the Elliot Wave Theory is that a
wave is made of sub-waves? Huh? Let me show you another picture. Pictures are
great aren't they? Yee-haw

Do you see how Wave 1 is made up of a smaller 5-wave impulse pattern and Wave 2
is made up of smaller 3-wave corrective pattern? Each wave is always comprised of
smaller wave patterns.

LIMITATIONS OF THE STUDY:
The limitations of the study are as enumerated below
 The study limits to use of only few technical tools like MACD, RSI, ROC, Bollinger
bands, Double Average, Pivot study, stochastic and Candlestick chart.
 The study is purely of academic interest with no experience In the field makes it less
precise and non professional.
 As technical analysis involves the collection, presentation and interpretation of
voluminous data it becomes very difficult to concise the analysis.
 The data used for analysis pertains to three months only
 Each method which provides carries its own pros and cons.

INDUSTRY PROFILE:

INDUSTRY PROFILE:
The company was formed in 1987 by Motilal Oswal and Ramdeo Agrawal after they
acquired membership on The BSE. Motilal Oswal was elected director and joined the
Governing Board of the Bombay Stock Exchange in 1998.
Motilal Oswal Securities is a Depository Participant of NSDL and a Depository Participant of

Central Depository Services Limited (CDSIL) in 2000. The company started offering
Derivatives products and advisory services on both BSE as well as NSE in 2001.
In 2006 the company entered private equity and investment banking. In the same year,
Motilal Oswal group acquired South Indian brokerage firm – Peninsular Capital Markets. The
company tied up with State Bank of India and Punjab National Bank in 2006 and 2007 to
offer online trading to its customers. 2008 saw the company create one of India's largest
Equity Dealing & Advisory rooms, spread over 26,000 sq ft (2,400 m2) in Malad, Mumbai.
The technical analysis look at the price movement that occur on day to day or week to week
or over the other constant tie period displayed in graphic from, called charts. For the purpose
of the study on commodities (Gold, Silver, Crude oil and Zinc) have been selected which is
listed in Multi Commodity Exchange (MCX). The technical analysis was done by using
Oscillator tools like Moving Average Convergence and Divergence (MACD), Relative
Strength Index (RSI), Bollinger Band, Rate of change, Double Average, Candlestick, Pivot
Study and Stochastic.

COMMODITY EXCHANGE:
Commodities are products that can be bought, sold or traded in different kinds of markets.
Commodities are the raw materials that are used to create products which are consumed in
everyday life around the world, from food products in India to building new homes in Europe
or to running cars in the US.
Commodity trading in India has a long history. In fact, commodity trading in India started
much before it started in many other countries. However, years of foreign rule, droughts and
periods of scarcity and Government policies caused the commodity trading in India to
diminish. Commodity trading was, however, restarted in India recently. Today, apart from
numerous regional exchanges, India has six national commodity exchanges namely, Multi
Commodity Exchange (MCX), National Commodity and Derivatives Exchange (NCDEX),
National Multi-Commodity Exchange (NMCE) and Indian Commodity Exchange (ICEX),
the ACE Derivatives exchange ( ACE )and the Universal commodity exchange (UCX). The
regulatory body is Forward Markets Commission (FMC) which was set up in 1953. As of
September 2015 FMC is merged with the Securities and Exchange Board of India (SEBI).
What are the major commodity exchanges in India?
There are currently 19 commodity derivatives exchanges in India. However, the bulk
of trading (99.88%) is concentrated in the following national-level commodity
exchanges:


MULTI COMMODITY EXCHANGE:
In terms of total number of contracts traded, MCX has become the world’s largest
commodity futures exchange in gold and silver, second largest in natural gas, and
third in crude oil. The top four commodities (gold, silver, copper and crude oil) form
85 percent of MCX’s total trading business, MCX trades on:
Bullions
Gold
Silver
Base Metals
Lead
Nickel
Zinc
Copper
Aluminum
Energy
Natural Gas
Crude Oil

National Multi Commodity Exchange of India Limited (NMCE)
 National Multi Commodity Exchange of India Limited (NMCE) is the first de-
metalized, Electronic Multi-Commodity Exchange in India.
 On 25th July, 2001, it was granted approval by the Government to organize
trading in the edible oil complex.
National Commodity & Derivatives Exchange Limited (NCDEX)
National Commodity & Derivatives Exchange Limited (NCDEX) is an

online commodity exchange. It has commenced its operations on December 15, 2003.
NCDEX currently facilitates trading of 57, commodities including:
• Agree-based commodities
• Bullion
• Energy
List of Commodity Exchanges
A commodities exchange is an exchange where various commodities and
derivatives products are traded. Most commodity markets across the world trade in
agricultural products and other raw materials (like wheat, barley, sugar, maize cotton
cocoa coffee milk products, pork bellies, oil, metals, etc.) and contracts based on
them. These contracts can include spot prices, forwards, futures and options on
futures. Other sophisticated products may include interest rates, environmental
instruments, swaps, or ocean freight contracts.
Asia

Exchange Abbreviation Location Product Types

International Industrial and Mineral
Commodity Almaty products, Oil By-Products
Exchange Kazakhstan and petrochemicals,
Kazakhstan Agricultural.
Agricultural
Bangkok
Futures Exchange AFET Agricultural
Thailand
of Thailand
Bursa Malaysia MDEX Malaysia Bio-fuels
Cambodian Energy, Industrial Metals,
Phnom Penh,
Mercantile CMEX Rubber, Precious Metals,
Cambodia
Exchange Agricultural
Central Japan
Energy, Industrial Metals,
Commodity Nagoya, Japan
Rubber
Exchange
Chittagong Tea Chittagong
Tea
Auction Bangladesh
Dalian Commodity Agricultural, Plastics,
DCE Dalian, China
Exchange Energy
Dubai Mercantile
DME Dubai Energy
Exchange
Dubai Gold &
Commodities DGCX Dubai Precious Metals
Exchange
Hong Kong
Mercantile HKMEX Hong Kong Gold, Silver
Exchange
Indonesia
Commodity and Indonesia, Agricultural Products, Base
ICDX
Derivative Jakarta Metals, Financial Products
Exchange
All energy carriers such as
Iran Energy
IRENEX Tehran, Iran crude oil, petroleum
Exchange
products, electricity, coal...
Iran Mercantile IME Tehran, Iran Industrial and Mineral

Products, Oil By-products

Exchange
and Agricultural.
Kansai
Commodities KANEX Osaka, Japan Agricultural
Exchange
Commodities &
Metal Exchange COMEN Nepal Gold, Silver
Nepal Ltd.
Agricultural, Precious
Nepal Derivative Kathmandu,
[NDEX] Metals, Base Metals,
Exchange Limited Nepal
Energy
Mercantile
Kathmandu Agricultural, Bullion, Base
Exchange Nepal MEX
Nepal Metals, Energy
Limited
Derivative and
Commodity Kathmandu Agricultural, Bullion, Base
DCX
Exchange Nepal Nepal Metals, Energy
Ltd.
Nepal Spot Kathmandu
NSE Agricultural, Bullion
Exchange Limited Nepal
Indian Commodity Energy, Precious Metals,
ICEX India
Exchange Limited Base Metals, Agricultural
Precious Metals, Base
Multi Commodity
MCX India Metals, Energy,
Exchange
Agricultural
National
Precious Metals, Base
Commodity and
NCDEX India Metals, Energy,
Derivatives
Agricultural
Exchange
National Multi-
Commodity Precious Metals, Base
NMCE India
Exchange of India Metals, Agricultural
Ltd
Chamber of
COC India Agricultural
Commerce, Hapur
Ace Derivatives & ACE India Agricultural

Commodity
Exchange Ltd.
Bhatinda Om & Oil
BOOE India Agricultural
Exchange Ltd.

COMPANY PROFILE
Owner : Prashanth Aralikatti
Web Address : www.motilaloswal.com
Slogan : Your guide to the financial

jungle
Type of site : Business Partner

Current status : Active
Industry : BFSI
Sub Industry : Stock Brokers, Financial
Services
Company Type : Industry Top
Sector : Private Sector
Address : Motilal oswal securities ltd.
No.128, Kanti Circle,ilkal,
Karnataka – 587125.
HEAD BRANCH
Motilal Oswal Securities Limited (MOSL) provides financial products and services. The
Company offers equity, depository, derivatives, insurance, commodities, mutual funds,
portfolio management, currencies, wealth management, and investment banking services.
MOSL serves clients in India.
Sector : Financial
Industry : Institutional Financial Svcs

Sub-Industry : Security & Commodity Exchanges
Corporate Information
Address : Queens Mansion, 2nd Floor
44 A. K. Naik Marg, Khadi Bhan
Fort Mumbia, 400001
India
Phone : 91-22-3027-8000
Fax : 91-22-3027-8124
Web site : www.motilaloswal.com
Board of Members
Executive Director : Harsh Joshi
VISION AND MISSION:
Vision: To be the best retail brokering Brand in the retail business of stock market.
Mission: To educate and empower the individual investor to make better investment
decisions through quality advice and superior service.

ORGANISATION CHART
Managing Director
Chief Managing Director
Vice-president Vice-president Vice-president Vice-president

Motilal Oswal Motilal Oswal Motilal Oswal Motilal Oswal

Stock Broking Consultants Investors Services Securities
Ltd Ltd. Ltd. Ltd.
Deputy General Deputy General Deputy General Deputy General
Senior Senior Senior Senior

Manager Manager Manager Manager
Branch Manager
N number of Team leaders
N number of Executives
Products and Services:

It is most comprehensive website, which allows people to invest in Shares,
Commodity, Derivatives (Future and Options) and other financial products.
 Equity Trading on NSE and BSE.

 Derivatives trading on NSE.
 IPO applications.
 Advice line.
 Portfolio Management Service.
 Mutual fund trading.
 Commodity Future Trading.
 Currency derivatives.

 Depository Service.
 Online trading.
 Learn to Trade.
 Trade Tiger.
 Share Mobile.
 Active Training Cell.
 Dial-N-Trade.
 Equity and Derivatives trading from a single screen.
 Customized Market watch with streaming Cash and F&O (Future & Options)
rates live on the screen.
 Instant Order placement and trading confirmations on same screen.
 Dynamic order and trade book.
AREA OF OPERATION:
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services with group
companies providing services such as Private Wealth Management, Retail Broking and
Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity,
Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
FUTURE PLANS:
2, 00,000 plus retail customers being serviced through centralized call centers /web
solutions. Branches / Semi branches servicing affluent / aggressive traders through high skill
financial advisor. Mergers and acquisitions: In the highly competitive and over crowded market,
shakeouts and bankruptcies of online brokers can be anticipated. The trend is towards a gradual
consolidation of retail investors to a few Stock broking applications thatdominant players or
partnerships.
AWARDS:

 Motilal Oswal is rated Best Overall Country Research for a Local Brokerage in the
2007 Asia Money Brokers poll.
 The company was ranked second best for Customer Responsiveness in the Financial
Sector at the Avaya Global Connect Customer Responsiveness awards.
 2011 – Motilal Oswal Financial Services Ltd. was honored with Best Capital Markets
& Related NBFC Award for FY11 at the CNBC TV18 India Best Banks and Financial
Institutions Awards, 2011 held in Mumbai.
 2012 – Motilal Oswal Financial Services won the RETAILER OF THE YEAR
(Banking & Financial Services) award at the Awards for Retail Excellence 2012
organised by Asia Retail Congress on Feb 14, 2012.
 Motilal Oswal Financial Services was honored with Best Employer Brand Award at
the IPE Banking, Financial Services & Insurance Awards 2012 held in Mumbai on
30th June 2012.
 Motilal Oswal Financial Services was awarded the Best Use of Public Relations in the
Financial Services Sector Award at the India PR & Corporate Communication
Awards 2012 held in New Delhi on March 22, 2012. Organized by Exchange4media,
these are the biggest awards of its kind in India.
SWOT ANALYSIS:
Strengths:
1) Strong credibility among investors because of its heritage.

2) Excellent reputation among the business society.
3) Capability of providing superior customer service.
4) Easier access to the customer due to largest ground network of 280 branded share
shops in 120 cities.
5) Ability to attract and retain superior and quality personnel.
6) Highly sophisticated infrastructure.

7) Efficient research and analysis team, which by interpreting the economy and
company’s performance accurately is enhancing the profitability of the clientele.
Weaknesses:
1) In adequate product awareness among the retail investors.

2) Limited customer appeal as the company does not have access to the BSE online
space.
3) Brand awareness is low in the financial market.
Opportunities:
1) Hyderabad covers only 2% of investors which gives huge potential for the market
penetration.
2) Bullish phase of the market attracts investing public.
3) Access to the BSE online space for the retail investors creates opportunity to
increase clientele base.
4) Awareness campaigns about online trading create new market
Threats:
1) Availability of Unit Linked Insurance Policies (ULIP’s) and mutual funds in the
market.
2) Threat of entry is high in this industry as the manpower required is less and capital
requirement is medium.

DATA ANALYSIS
Data Analysis and Interpretation
Table – 1, Gold – Calculation of ROC, RSI, SMA,
Date Price ROC RSI SMA 10

Aug 01, 2018 29810
Aug 02, 2018 29794
Aug 03, 2018 29980
Aug 04, 2018 30234
Aug 06 , 2018 31054
Aug 07, 2018 31243

Aug 08 , 2018 30243

Aug 09, 2018 31037
Aug 10, 2018 31036
Aug 13, 2018 30996 30642
Aug 14, 2018 31250 30746
Aug 15, 2018 31037 30831
Aug 16, 2018 31073 30920
Aug 17, 2018 31385 31035
Aug 20, 2018 31415 -0.00452 35.18519 31071
Aug 21, 2018 31401 -0.01292 34.43902 31087
Aug 22, 2018 31303 -0.01375 38.19095 31193
Aug 23, 2018 31469 -0.01168 42.50559 31236
Aug 24, 2018 31733 -0.01918 39.63594 31306
Aug 25, 2018 31561 -0.02326 48.49699 31362
Aug 27, 2018 31785 -0.01632 46.38978 31416
Aug 28, 2018 32104 -0.01407 53.03141 31522
Aug 29, 2018 32013 -0.02316 52.53244 31616
Aug 30, 2018 30131 -0.03585 61.26678 31491
Sap 03, 2018 30307 -0.03673 65.63945 31372
Sep 04, 2018 30221 -0.03684 65.09676 31263
Sep 05, 2018 30310 -0.03186 67.74066 31189
Sep 06, 2018 30565 -0.03318 65.92858 31093
Sep 07, 2018 30509 -0.03825 63.77246 30992
Sep 10, 2018 30725 -0.02963 64.79302 30909
Sep 11, 2018 30732 -0.02044 64.87663 30797
Sep 12, 2018 30664 -0.01068 63.27467 30634
Sep 13, 2018 30470 -0.00807 57.21854 30478
Sep 14, 2018 30453 -0.023 55.96182 30518
Sep 15, 2018 30537 -0.02044 59.73481 30574
Sep 17, 2018 30778 -0.00389 57.58139 30624
Sep 18, 2018 30811 -0.00693 53.05997 30632
Sep 19, 2018 30649 -0.00398 50.62429 30644
Sep 20, 2018 30623 -0.01444 51.91279 30632
Sep 21, 2018 30609 -0.00134 51.22129 30634
Sep 24, 2018 30750 0.006026 53.70938 30655
Sep 25, 2018 30875 -0.0053 48.63974 30695
Sep 26, 2018 30870 -0.01108 50.82873 30707
Sep 27, 2018 30570 -0.01205 51.38981 30703
Sep 28, 2018 30495 -0.01364 54.16928 30676
Sep 29, 2018 30510 0.006947 56.86074 30652
Oct 01 , 2018 30574 0.014401 51.39756 30646
Oct 02, 2018 30586 0.015391 51.69936 30672
Oct 03, 2018 30881 0.026338 49.24483 30635
Oct 04, 2018 30246 0.014906 47.25255 30710
Oct 05, 2018 31502 0.016004 47.57939 30747
Oct 06, 2018 31242 0.022645 47.68491 30752
Oct 08, 2018 30919 -0.0024 44.77712 30785

Oct 09, 2018 30895 -0.0092 46.46805 30799
Interpretation

ROC from the above table, the Gold price has undergone 32 times moving below the
Zero line it indicates the selling opportunity. The last value in the ROC is -0.0092 on
Oct,09, 2018
The rising of prices and falling in price depends on the position of ROC line, when the
ROC line is above the Zero line, the price is raising and when it is below the zero line, the
price is falling. There are a lot of fluctuations in the ROC implying the market is volatile.
The utmost drop in the price is on Sep1, 2018(-0.03825) and the highest peak in the price
is Oct 3, 2018 (0.026338).
Buying Opportunity
Preferably one should buy a share that is oversold and sell a share that is overbought.
Upside crossing (from below to above the zero line) indicates a buying opportunity.
Hence it was ideal to buy the gold by the end of the Aug 2018 and beginning of the Sep
2018.
Selling Opportunity
Down side crossing indicates a selling opportunity. From the above chart, we can infer
that the end of Oct 6 is indicating selling opportunity.
RSI-Buying Opportunity
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. RSI has ever crossed below the line on. It comes down that is
below 30 it indicates buying opportunity.
Selling Opportunity
When the RSI line has crossed the 70 line from the above to below and is falling, a sell
signal is indicated. In this case it has crossed 70 many times. It indicates selling
opportunity
Simple Moving Average

That all moving averages are lagging indicators and will always be "behind" the price.
The price of Gold is trending down, but the simple moving average, which is based on the
previous 10 days of data, remains above the price. If the price were rising, the SMA
would most likely be below. When prices are trending, moving averages work well.
However, when prices are not trending, moving averages can give misleading signals.
Table –2, Silver– Calculation of ROC, RSI, SMA,

Aug 01, 2018 34,590
Aug 02, 2018 36,664
Aug 03, 2018 37,486
Aug 04, 2018 37,336
Aug 06 , 2018 36,625
Aug 07, 2018 36,836
Aug 08 , 2018 37,021
Aug 09, 2018 37,240
Aug 10, 2018 37,491
Aug 13, 2018 37,515 36880.4
Aug 14, 2018 37,380 37159.4
Aug 15, 2018 36,945 37187.5
Aug 16, 2018 36,890 37127.9
Aug 17, 2018 36,791 37073.4
Aug 20, 2018 36,917 -0.00867 32.81476 37102.6
Aug 21, 2018 36,923 -0.01515 35.07413 37111.3
Aug 22, 2018 37,092 -0.01128 53.40296 37118.4
Aug 23, 2018 36,930 -0.01204 63.95642 37087.4
Aug 24, 2018 37,782 0.022655 64.13011 37116.5
Aug 25, 2018 36,774 -0.00314 43.83968 37042.4
Aug 27, 2018 36,426 -0.00992 57.95594 36947
Aug 28, 2018 36,263 -0.01772 57.64978 36878.8
Aug 29, 2018 35,983 -0.02546 55.81341 36788.1
Aug 30, 2018 35,805 -0.0347 55.89558 36689.5
Sap 03, 2018 35,384 -0.04186 49.8303 36536.2
Sep 04, 2018 34,900 -0.07628 52.20923 36333.9
Sep 05, 2018 34,847 -0.0524 52.59436 36109.4
Sep 06, 2018 34,390 -0.05589 52.57876 35855.4
Sep 07, 2018 34,190 -0.05717 55.21634 35496.2
Sep 10, 2018 34,090 -0.05261 49.92243 35227.8
Sep 11, 2018 33,935 -0.05223 38.61723 34978.7
Sep 12, 2018 34,151 -0.03485 26.57607 34767.5
Sep 13, 2018 33,807 -0.03132 37.51341 34549.9

Sep 14, 2018 33,605 -0.03564 59.87998 34329.9

Sep 12, 2018 33,620 -0.02239 54.65849 34153.5
Sep 17, 2018 33,855 -0.0098 51.83533 34049
Sep 18, 2018 33,617 -0.01388 51.37466 33926
Sep 19, 2018 33,724 -0.00622 51.00489 33859.4
Sep 20, 2018 33,612 -0.01578 56.32871 33801.6
Sep 21, 2018 34,000 0.005709 53.24497 33792.6
Sep 24, 2018 33,770 0.00491 43.83757 33776.1
Sep 25, 2018 33,625 0.000149 46.10301 33723.5
Sep 26, 2018 33,571 -0.00839 41.97743 33699.9
Sep 27, 2018 33,450 -0.00497 39.82188 33684.4
Sep 28, 2018 33,500 -0.00664 40.14174 33672.4
Sep 29, 2018 34,580 0.028799 36.86599 33744.9
Oct 01, 2018 35,165 0.034265 23.383 33899.7
Oct 02, 2018 34,615 0.025022 19.39043 33988.8
Oct 03, 2018 34,650 0.030483 24.31531 34092.6
Oct 04, 2018 34,350 0.023205 30.17241 34127.6
Oct 05, 2018 33,955 0.015097 30.08317 34146.1
Oct 06, 2018 33,510 0.000299 31.97314 34134.6
Oct 08, 2018 33,444 -0.03285 30.60356 34121.9
Oct 09, 2018 34,171 -0.02827 30.17657 34194

Interpretation
ROC from the above table, the Silver price has undergone 29 times moving below the
Zero line it indicates the selling opportunity. The rising of prices and falling in price
depends on the position of ROC line, when the ROC line is above the Zero line, the price
is raising and when it is below the zero line, and the price is falling. There are a lot of
fluctuations in the ROC implying the market is volatile. The utmost drop in the price is
-0.00622 on Sep 19, 2018 and the highest peak in the price is 0.034265 on Oct 01, 2018.

Buying Opportunity
Hence it was ideal to buy the gold by the beginning of the Aug 1, 2018 and Oct, 3, 2018.
Selling Opportunity
that the end of Aug, 2018 and Oct, 2018 is indicating selling opportunity.
below 30 it indicates
Selling Opportunity
opportunity.
The price of Silver is trending down, but the simple moving average, which is based on
the previous 10 days of data, remains above the price. If the price were rising, the SMA
would most likely be below.
When prices are trending, moving averages work well. However, when prices are not
trending, moving averages can give misleading signals.

Table –3, Zinc– Calculation of ROC, RSI, SMA

Aug 01, 2018 110.65
Aug 02, 2018 108.25
Aug 03, 2018 107.90
Aug 04, 2018 109.95
Aug 06 , 2018 108.50
Aug 07, 2018 119.15
Aug 08 , 2018 118.25
Aug 09, 2018 117.40
Aug 10, 2018 117.65
Aug 13, 2018 117.25 113.495
Aug 14, 2018 116.00 114.03
Aug 15, 2018 115.30 114.735
Aug 16, 2018 114.05 115.35
Aug 17, 2018 111.30 115.485
Aug 20, 2018 112.70 -0.04003 22.17548 115.905
Aug 21, 2018 113.15 -0.03825 25.53191 115.305
Aug 22, 2018 111.90 -0.04563 27.0936 114.67
Aug 23, 2018 112.40 -0.03103 28.84615 114.17
Aug 24, 2018 112.05 -0.02819 31.16883 113.61
Aug 25, 2018 110.75 -0.02893 28.91207 112.96
Aug 27, 2018 109.05 -0.02022 62.85714 112.265
Aug 28, 2018 110.40 -0.02041 64.48087 111.775
Aug 29, 2018 110.55 -0.02298 60.63123 111.425
Aug 30, 2018 109.20 -0.02413 61.24161 111.215
Sap 03, 2018 108.75 -0.03247 63.19703 110.82
Sep 04, 2018 109.60 -0.02187 61.56406 110.465
Sep 05, 2018 108.55 -0.01986 62.4 110.13
Sep 06, 2018 105.90 -0.02889 61.94332 109.48
Sep 07, 2018 104.40 -0.05435 61.71079 108.715
Sep 10, 2018 106.15 -0.0398 66.13455 108.255
Sep 11, 2018 106.70 -0.02289 58.3501 108.02
Sep 12, 2018 103.80 -0.04552 60.11617 107.36
Sep 13, 2018 101.40 -0.07482 61.28585 106.445
Sep 14, 2018 99.85 -0.08015 64.63878 105.51
Sep 15, 2018 100.45 -0.05146 65.00836 104.68
Sep 17, 2018 101.70 -0.02586 66.42686 103.89
Sep 18, 2018 102.00 -0.0391 66.85438 103.235
Sep 19, 2018 104.55 -0.02015 66.21514 103.1
Sep 20, 2018 103.75 -0.00048 61.42506 103.035
Sep 21, 2018 106.40 0.04931 62.07729 103.06
Sep 24, 2018 102.55 0.027041 57.11111 102.645
Sep 25, 2018 103.10 0.026381 61.85771 102.575
Sep 26, 2018 105.20 0.034415 62.954 102.955

Sep 27, 2018 103.10 0.010784 62.72727 103.28

Sep 28, 2018 102.15 -0.02296 63.21906 103.45
Sep 29, 2018 103.15 -0.00578 59.2668 103.595
Oct 01 , 2018 101.00 -0.05075 58.54271 103.495
Oct 02, 2018 102.05 -0.00488 58.01527 103.245
Oct 03, 2018 102.25 -0.00824 59.5366 103.095
Oct 04, 2018 102.00 -0.03042 61.18012 102.655
Oct 05, 2018 103.60 0.00485 57.38636 102.76
Oct 06, 2018 103.25 0.010768 54.37416 102.775
Oct 08, 2018 100.15 -0.02908 54.42708 102.27
Oct 09, 2018 100.60 -0.00396 59.30233 102.02
Interpretation
ROC from the above table, the Zinc price has undergone 34 times moving below the
Zero line it indicates the selling opportunity. The rising of prices and falling in price
depends on the position of ROC line, when the ROC line is above the Zero line, the price
is raising and when it is below the zero line, and the price is falling. There are a lot of
fluctuations in the ROC implying the market is volatile. The utmost drop in the price is
-0.00048 on Sep 18, 2018 and the highest peak in the price is 0.04931 on Sep 21, 2018.
Buying Opportunity
Hence it was ideal to buy the Zinc by the end of the Sep. 2018 and Oct. 10 2018.
Selling Opportunity
that the end of Sep. 2018 and Oct. 2018 is indicating selling opportunity.
below 30 it indicates buying opportunity
Selling Opportunity
opportunity.

The price of Zinc is trending down, but the simple moving average, which is based on the
previous 10 days of data, remains above the price. If the price were rising, the SMA
would most likely be below.
Table – 4, Crude Oil– Calculation of ROC, RSI, SMA,

Aug 01, 2018 2971
Aug 02, 2018 3030
Aug 03, 2018 3137
Aug 04, 2018 3162
Aug 06 , 2018 3217
Aug 07, 2018 3205
Aug 08 , 2018 3075
Aug 09, 2018 3089
Aug 10, 2018 3034
Aug 13, 2018 2986 3090.6
Aug 14, 2018 3055 3099
Aug 15, 2018 2992 3095.2
Aug 16, 2018 3009 3082.4
Aug 17, 2018 2972 3063.4
Aug 20, 2018 2951 -0.0447 53.77422 3036.8
Aug 21, 2018 2927 -0.0353 51.40449 3009
Aug 22, 2018 2877 -0.0365 50.47455 2989.2
Aug 23, 2018 2818 -0.0776 57.59162 2962.1
Aug 24, 2018 2998 0.00201 56.28878 2958.5
Aug 25, 2018 3028 0.00631 41.61802 2962.7
Aug 27, 2018 3068 0.0323 46.60287 2964
Aug 28, 2018 3033 0.02779 43.34278 2968.1
Aug 29, 2018 3158 0.07892 39.32584 2983
Aug 30, 2018 3049 0.05978 35.41156 2990.7
Sap 03, 2018 3039 0.07842 39.30217 2999.5
Sep 04, 2018 2950 -0.016 36.63793 3001.8
Sep 05, 2018 2930 -0.0324 38.08354 3007.1
Sep 06, 2018 2941 -0.0414 32.62666 3019.4

Sep 07, 2018 2892 -0.0465 37.50675 3008.8

Sep 10, 2018 2771 -0.1225 39.04194 2983.1
Sep 11, 2018 2689 -0.1181 43.82277 2945.2
Sep 12, 2018 2735 -0.1 45.2396 2915.4
Sep 13, 2018 2703 -0.0837 47.2044 2869.9
Sep 14, 2018 2673 -0.0877 54.6672 2832.3
Sep 12, 2018 2664 -0.0942 50.97173 2794.8
Sep 15, 2018 2833 -0.0204 46.75532 2783.1
Sep 18, 2018 2828 0.02057 38.57193 2772.9
Sep 19, 2018 2876 0.06954 40.15407 2766.4
Sep 20, 2018 2860 0.0457 39.48763 2763.2
Sep 21, 2018 2851 0.05475 39.80668 2771.2
Sep 24, 2018 2821 0.05537 35.2552 2784.4
Sep 25, 2018 2798 0.0503 35.86142 2790.7
Sep 26, 2018 2773 -0.0212 29.62783 2797.7
Sep 27, 2018 2700 -0.0453 28.37336 2800.4
Sep 28, 2018 2791 -0.0296 25.72529 2813.1
Sep 29, 2018 2684 -0.0615 22.16359 2798.2
Oct 01 , 2018 2529 -0.1129 24.12094 2768.3
Oct 02, 2018 2528 -0.1039 29.91312 2733.5
Oct 03, 2018 2496 -0.1079 28.62861 2697.1
Oct 04, 2018 2467 -0.1103 29.65116 2658.7
Oct 05, 2018 2403 -0.11 37.71471 2616.9
Oct 06, 2018 2453 -0.1211 40.34335 2582.4
Oct 08, 2018 2519 -0.0615 40 2557
Oct 09, 2018 2385 -0.0569 41.92808 2525.5

Interpretation
ROC from the above table, the Crude Oil price has undergone 29 times moving b, when
the ROC line is above the Zero line, the price is raising and when it is below the zero line,
and the price is falling. There are a lot of fluctuations in the ROC implying the market is
volatile. The utmost drop in the price is -0.016 on Sep 27, 2018 and the highest peak in
the price is 0.07892 Sep 29, 2018.

Buying Opportunity
Hence it was ideal to buy the Crude Oil by the beginning of the Aug.1 2018 and Oct.3
2018.
Selling Opportunity
that the end of Aug. 2018 and beginning of the Oct. and end of Oct.2018 is indicating
selling opportunity.
below 30 it indicates
Selling Opportunity
opportunity.
The price of Crude Oil is trending down, but the simple moving average, which is based
on the previous 10 days of data, remains above the price. If the price were rising, the
SMA would most likely be below.

Findings:
Gold
 The Gold has undergone 32 times moving the below zero line it indicates the
 RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated.
 The Gold is trending down since last three months and SMA shows buying
opportunity for long period.
Silver
 The Silver has undergone 29 times moving the below zero line it indicates the
 The Silver is trending down since last three months and SMA shows buying
Zinc
 The Zinc has undergone 34 times moving the below zero line it indicates the
 The Zinc is trending down since last three months and SMA shows buying
Crude Oil
 The C.O has undergone 29 times moving the below zero line it indicates the
 The C.O is trending down since last three months and SMA shows buying

SUGGESTIONS
The choice of which charting method to use will depend on personal preference and trading
or investing styles. Once you have chosen a particular charting methodology, it is probably
best to stick with it and learn how best to read the signals. Switching back and forth may
cause confusion and undermine the focus of analysis.
 Learn the basis of chart analysis, apply your knowledge in a regular basis, and
continue your development.
 Limit the number of charts, indicators and methods you use. Learn how to use them.
 The data collected should be at least of 100 trading days for any technical indicator,
for proper interpretation.

CONCLUSION
Technical Analysis is a method of evaluating securities by analyzing statistics generated by

market activity, such as past prices and volume. Technical analysis does not attempt to
measure a security’s intrinsic value, but instead use charts and other tools to identify patterns
that can be suggest future activity.
Technical indicators look to predict the future price levels or simply the general price
direction, of a security by looking at past pattern. One cannot tell which is best indicator is as
all indicators have different methods of calculation and each method will provide it does
possess the sole explanation,
Technical analysis has several limitations. It is not an accurate method of analysis. It is often
difficult to identify the patterns underlying stock price movements. Moreover it is not easy to
interpret the meaning of patterns and their likely impact on Future price movements.

BIBLIOGRAPHY
BOOKS:
Prasanna Chandra: Investment Analysis and Portfolio

Management, Tat a McGraw Hill, 3rd Edition
Punithavathy Pandian: Security Analysis and Portfolio

Management, Vikas Publishing House Pvt. Ltd.
Sudhindra Bhat: Security Analysis and Portfolio

Management, Excel Book 1st Edition, New Delhi-2008,
V.A. Avadhani: Security Analysis and Portfolio

Management, Himalaya Publication House, 10th Revised
Edition.
WEBSITES:
 www.mcxindia.com
 www.mcxallindia.com
 www.ncdex.com
 www.nmce.com
 www.gold.org
 www.investing.com
 www.reuters.com
 www.slideshare.com
 www.motilal oswal.com

Technical Analysis of Commonditie. (Gold, Silver, Zinc & Crude Oil) at Motilal Oswal Securities LTD

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TECHNICAL ANALYSIS OF COMMONDITIE.

(GOLD, SILVER, ZINC & CRUDE

SVM IMS MBA COLLEGE ILKAL Page 1

BACKGROUND OF THE STUDY:

SVM IMS MBA COLLEGE ILKAL Page 2

 On what type of security to invest?

 To study the applicability of technical analysis of the commodity market.

SVM IMS MBA COLLEGE ILKAL Page 3

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DATA ANALYSIS TOOLS:

 Using stock exchange market data (Indicates).

1. The price is below the Pivot but above S1.

SVM IMS MBA COLLEGE ILKAL Page 5

2. The price is above the Pivot but below R1.

3. The price is very near to Pivot (+/- 0.02)

4. The price is between R1 and R2

5. The price is between S1 and S2

6. The prices is between S2 and S3

7. The price is between R2 and R3

SVM IMS MBA COLLEGE ILKAL Page 6

 The 12 represents the previous 12 bars of the faster moving average.

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SVM IMS MBA COLLEGE ILKAL Page 8

SVM IMS MBA COLLEGE ILKAL Page 9

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The Bollinger Bounce

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SVM IMS MBA COLLEGE ILKAL Page 12

SVM IMS MBA COLLEGE ILKAL Page 13

How to Apply Stochastic

SVM IMS MBA COLLEGE ILKAL Page 14

SVM IMS MBA COLLEGE ILKAL Page 15

Relative Strength Index

SVM IMS MBA COLLEGE ILKAL Page 16

Elliott Wave Theory

The Elliott Wave Theory.

The 5 – 3 Wave Patterns

SVM IMS MBA COLLEGE ILKAL Page 17

SVM IMS MBA COLLEGE ILKAL Page 18

SVM IMS MBA COLLEGE ILKAL Page 19

Waves within a Wave

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LIMITATIONS OF THE STUDY:

The limitations of the study are as enumerated below

SVM IMS MBA COLLEGE ILKAL Page 22

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Motilal Oswal Securities is a Depository Participant of NSDL and a Depository Participant of

SVM IMS MBA COLLEGE ILKAL Page 24

What are the major commodity exchanges in India?

SVM IMS MBA COLLEGE ILKAL Page 25

SVM IMS MBA COLLEGE ILKAL Page 26

MULTI COMMODITY EXCHANGE:

SVM IMS MBA COLLEGE ILKAL Page 27

National Multi Commodity Exchange of India Limited (NMCE)

National Commodity & Derivatives Exchange Limited (NCDEX) is an

SVM IMS MBA COLLEGE ILKAL Page 28

Exchange Abbreviation Location Product Types

SVM IMS MBA COLLEGE ILKAL Page 29

Products, Oil By-products

SVM IMS MBA COLLEGE ILKAL Page 30

SVM IMS MBA COLLEGE ILKAL Page 31

Owner : Prashanth Aralikatti