HDFC Life Insurance Ltd. Co.: Fundamental & Technical Analysis OF "HOSPITALITY SECTOR (Mid-Cap) "

FINAL REPORT
ON
FUNDAMENTAL & TECHNICAL ANALYSIS

OF “HOSPITALITY SECTOR (mid-cap)”.
SUBMITTED BY: - ARIF HUSSAIN

ENROLLMENT NO: -20BSPHH01C0220
ORGANISATION
HDFC Life Insurance Ltd. Co.

A REPORT
ON
FUNDAMENTAL AND TECHNICAL ANALYSIS OF “HOSPITALITY

SECTOR (mid-cap)”
SUBMITTED BY
ARIF HUSSAIN
20BSPHH01C0220
HDFC LIFE INSURANCE CO. LTD.
A report submitted in partial fulfillment of the requirements of MBA

Program of ICFAI Business School
Distribution List: -
FACULTY GUIDE COMPANY GUIDE
Dr. MUSARRAT SHAHEEN MR. MOHD YUSUF KHAN
faculty IBS Hyderabad Circle head – Mumbai
HDFC Life Insurance Ltd. Co.
Date of submission: - 26th may 2021

AUTHORISATION
This is to confirm that this project report titled “FUNDAMENTAL & TECHNICAL ANALYSIS OF
HOSPITALITY SECTOR (mod-cap)” is an original research work done by Mr. ARIF HUSSAIN,
bearing Enrollment No. 20BSPHH01C0220, MBA Batch of 2020-2022, ICFAI Business School
HYDERABAD during the course of Summer Internship at HDFC Life Insurance Co. Ltd.
This report is submitted towards the partial fulfillment of the requirement of the MBA Program of
ICFAI Business School, HYDERABAD. The results embodied in this report have not been submitted
to any other University or Organization for assessment or award.
Company Guide: FACULTY GUIDE:
MR. MOHD. YUSUF KHAN DR. MUSARRAT SHAHEEN
Circle Head - Mumbai Faculty, IFCAI Business School
HDFC Life Insurance Co. Ltd HYDERABAD

ACKNOWLEDGEMENT
The internship I got with HDFC Life Insurance Co. Ltd. was a great opportunity for learning and
professional development. I am grateful for having given a chance to meet so many wonderful,
talented and skilled professionals who led me though this internship period.
I am using this opportunity to express my deepest gratitude and special thanks to Mr. Mohd. Yusuf
Khan (Circle Head-Mumbai). In spite of being extremely busy with his duties and responsibilities, he
took time out to hear, guide, keep me on the correct path and allowed me to carry out my project at
his esteemed organization.
I would also like to express special thanks to my faculty guide, Prof. DR. MUSARRAT SHAHEEN,
for her valuable guidance and support throughout the project. I sincerely acknowledge her for
extending her valuable guidance and critical reviews on the project and above all, the moral support
she provided during all the stages of this project.
I extend my gratitude to ICFAI Business School, HYDERABAD for giving me this excellent
opportunity.
ARIF HUSSAIN
20BSPHH01C0220
ABSTRACT
A mutual fund is an investment vehicle, which is made by pooling of money collected from
different investors for the purpose of investing in securities such as stocks, bonds, money
market instruments and other assets. Mutual funds are operated by professional fund managers,
who allocate the funds and attempt to produce capital gains and/or income for the investors
who have provided with the fund. A mutual fund portfolio is structured in a way to match the
investment objectives stated in its prospectus.
The aim of the training is to learn the various analysis so that the fund can be allocated in the
portfolio that we have made for a particular sector or the combination of different sectors’ large
cap stocks so that the probability of getting the profit and increasing the NAV should increase.
The technical and fundamental analysis has been used to make a better portfolio. Fundamental
analysis has been done to make the portfolio of the stocks of a sector and calculating the NAV
and Technical analysis is used for trading. The motive is to learn the skills as a financial analyst
to improve the probability of getting appreciation from the portfolio.
Learned about the company HDFC Life Insurance and also researched on its products. Learned
about the mutual funds and its types that the company offer. Also, the main business of the
company i.e., insurance is being learned during the training.
Project has been started, in which the allocation of the fund has to be done by making a portfolio
using fundamental analysis and calculating NAV on the daily basis. Till the present situation
Fundamental Analysis has been completed and my portfolio is being managed basedon the
analysis. Technical Analysis is yet to commence. The final results will be shown at the end of
the training.
TABLE OF CONTENT
S.NO CONTENT PAGE NO.

1 INTRODUCTION 1–3
1.1 About the company 1
1.2 promoters of HDFC Life 1
1.3 life insurance 2
1.4 need of life insurance 2
1.5 products 3
2 MUTUAL FUNDS 4 – 12
2.1 types of mutual funds 4
2.2 systematic investment planning 6
2.3 risk profile questionnaire and its conclusion 7
3 LIVE TRADING 13 – 19
3.1 about 13
3.2 strategies and indicators 14
4 PROJECT 20 – 39
4.1 Introduction 20
4.2 objective 21
4.3 methodology 21
4.4 index 21
4.4.1 index calculation 22 to 24
4.5 FUNDAMENTAL ANALYSIS 25 – 34
4.5.1. steps for sectoral fundamental analysis 25
4.5.2. ranking 26
4.5.3. fundamental analysis of hospitality sector 27 to 29
4.5.4. asset allocation 30
4.5.5. Fund sheet 34
4.6 TECHNICAL ANALYSIS 34 – 38
4.6.1. different charts and their analysis in long run 35
4.7 FINDINGS & CONCLUSION 39
5 BACK TESTING OF OSCILLATORS 41 – 46

5.1 back testing 41
6 DERIVATIVES 47 – 55
5.1 types of derivatives 48
7 LIVE PROJECT 56 – 60
8 REFERENCES 61
1. INTRODUCTION
1.1 About the Company
Formerly known as HDFC Standard Life Insurance Company Limited is a joint venture
between HDFC Limited, one of India’s housing finance institution and Standard Life
Aberdeen, a global investment company.
HDFC Life Insurance Company Limited was established in 2000. At present it is standing as
one of India’s leading life insurance companies which offers a range of individual and group
solutions, to meet the various needs of the customers at different life stages.
It has a stronghold in the Insurance sector with 412 branches and additional distribution
touchpoints through several partnerships. These partnerships include NBFCs (Non – Banking
Financial Companies), MFIs (Micro Finance Institutions), SFBs (Small Finance Banks) and
also partnerships non – traditional ecosystems. The Company is also strengthened by a strong
base of financial consultants.
In Fiscal 2012, The Company established a wholly-owned subsidiary, HDFC Pension
Management Company Ltd., to operate its pension fund business under the National Pension
Scheme (NPS) and in Fiscal 2016, the Company established its first international wholly –
owned subsidiary in the UAE, namely HDFC International Life and Re Company Ltd., to
operate its reinsurance business.
1.2 Promoters of HDFC Life
• HDFC Limited
HDFC was incorporated as a public limited company on October 17, 1977 under the
Companies Act, 1956 and received a certificate of commencement of business on
December 3, 1977. The equity shares of HDFC were listed on BSE in 1978 and NSE in
1996. The equity shares of HDFC are currently listed on NSE and BSE.
As per the terms of the memorandum of association of HDFC, the main object is to
provide money to any person, company, association or society, with or without interest,
and/or with or without any security. Its purpose is to enable the borrower to erect or
purchase or enlarge or repair any house or building or lease any property in India on
such terms and conditions as it may deem fit.
• Standard Life Mauritius
Standard Life Mauritius was incorporated as a private company limited by shares on
April 7, 2006 under the laws of Mauritius with the Registrar of Companies, Mauritius. It
holds a Category 1 Global Business License issued by the Financial Services
Commission and carries out the work of holding investment. The shares of Standard Life
Mauritius are not listed on any stock exchange. But, the promoter of Standard Life
Mauritius is Standard Life Aberdeen which in turn is a promoter of HDFC Life Insurance
Company.
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1.3. LIFE INSURANCE
Life Insurance is an agreement among you and a life insurance company. We agree to pay for
the policy all the time, and the insurer consents to pay a total of cash to your beneficiaries if
you die. Life Insurance organizations make money by investing the premiums, planning to
make more than they'll have to pay in claims. They likewise benefit from clients who stop
paying for their life insurance, causing the policies to lapse and leaving the insurer with the
cash that has already been paid. You'll assign beneficiaries who will get the life insurance pay-
out, called a death benefit. This goes out toward funeral costs, mortgage payments or anything
else. It's essential to tell your beneficiaries that your life insurance exists. They need not bother
with the policy in hand to make the claim later, yet they do need to know which company holds
the policy.
1.4. NEED OF LIFE INSURANCE POLICY
The common of all reasons to buy a life insurance policy is to protect the financial interests of
the owner of the policy in case of the insured's demise. So, one must buy life insurance and be
a step ahead so that the financial goals set for his/her family can be accomplished even when
he/she is not around. Other reasons are:
• Financial Cushion – It provides financial support to insured’s family which is much-
needed, by compensating for the loss of income.
• Debt-Proof Future – In case of sudden demise of the sole earner of the family, it provides
financial support. With the help of life insurance, any outstanding debt, such as a motor
loan, personal loan, a home loan, etc. can be paid.
• Accomplishment of Retirement Goals – While life plan is a perfect option to accomplish
long term goals, it helps accomplish retirement goals as well. Life insuranceplans offer both
diverse investment opportunities as well as performance-based dividends.
• Tax Benefits – A policyholder also gets tax-benefits regardless the type of life insurance
he/she purchases. As per section 80 C of the Income Tax Act, person is eligible for tax
benefits up to Rs.1.5 lac.
• Savings Tool – In case a person chooses a traditional/unit-linked plan, he/she pays an
enhanced insurance premium. This surplus money is invested in the insured’s preferred
fund, either equity or debt fund and consequently acts as a savings tool.
• Children’s Future Expenses – A life plan takes care of all the future expenses of a
policyholder’s children, like education and wedding expenses.
• Business Security – There are some insurance plans available in the market that offer
support to the insured’s business. It also allows the business partners to buy the share of
his/her deceased business partner.
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Contribution of life insurance in development of economy
• Flow of Insurance Industry in India
• Structure of insurance industry: Snap Shot Industry
• Aggregation of long-term savings
• Provide financial services in rural areas
• Provides Long term funds for infrastructure development of capital Markets/Economic
Growth
• Employment generation
• Growth Potential
1.5. PRODUCTS
Insurance planning helps you to smooth out the uncertainties and adversities that life might
send your way, so that you can secure the future of your loved ones in the best possible way.
HDFC Life offers a complete range of insurance products. Some of the well-known products
are:
• Long Term Solutions:
Includes various policies framed by the company like term plan (pure insurance), traditional
plan (pure investment, return guaranteed) and HDFC Life Sanchay Plus etc.
• Savings with Protection:
insurance plans that provide protection and financial stability to the family in case of any
unforeseen events.
• Child Plans:
plans meant to secure children's future
• Wealth Plan
• Retirement and Pension Solution Plans:
financial security for life post retirement
• ULIP Solution Plans:
Mutual fund + investment, subject to market risk and here returns are not guaranteed.
• Rural Plan:
meant specifically for rural customers
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2. MUTUAL FUND
A mutual fund is a venture vehicle comprised of a pool of money gathered from numerous
investors to invest in securities, such as stocks, bonds or shares. Both gains and rewards earned
over the time of investment and losses are shared equally in proportion of contribution to the
corpus by all the investors. Mutual funds are registered with SEBI.
Mutual fund units, or shares, can regularly be acquired or redeemed as needed at the fund's
current net asset value (NAV) per share, which is sometimes expressed as NAVPS. A fund's
NAV is calculated by dividing the total value of the securities or assets in the investment
portfolio by the total amount ofoutstanding shares.
Net Asset Value (NAV) - Net asset value shows the net value of an entity which is calculated
bynet assets – net liabilities. It is most commonly used in the mutual funds and represents per
share/unit price of the funds registered with the US securities & exchange commission.
2.1. TYPES OF MUTUAL FUNDS
Equity Fund
Equity Funds are those funds which are invested in equity stocks of different companies. These
funds mainly aim to generate high returns by investing in the shares of companies of different
market capitalization. They provide higher returns than debt funds or fixed deposits.
These equity funds are further categorized as follows,
• Large Cap Fund – Large Cap equity funds is a type of mutual fund that invests a larger
proportion of their corpus in companies with market capitalization of more than 20000
crore. These companies are well-established players in the market with a good trackrecord
and have strong corporate-governance practices. Ex – Aditya Birla SL FocusedEquity fund.
• Mid Cap Fund – Mid Cap Mutual Fund scheme invest in stock of mid-size companies or
stocks with market capitalization of 10000 crores to 20000 crores. Ex- L&T mid CapFund.
• Small Cap Fund – Small Cap Mutual Fund scheme invest in stocks of small companiesthat
have good potential to grow. They have the market capitalization of less than 10000crore.
Ex- SBI Small Cap Fund.
• Multi Cap fund – Multi Cap funds are diversified equity funds which invest in varying
proportions in stocks of companies across market capitalizations to maximize their gains.
It involves investment in stocks of all large cap, mid cap, and small capcompanies
and they are less risky funds.
• Sectorial Fund – A sectorial fund is a type of mutual fund that aims to completely investin
a few specific sectors of the economy. This can be energy, information technology (IT),
Banking, FMCG, and so on. Many types of businesses follow a cyclical pattern of ups and
downs, while some of the sectors perform well, others fall during the same period. The
main aim of these funds is to benefit from sectors that are performing well based on the
investment objective of the scheme. Aditya Birla Sun Life Banking and Financial Services
Fund is an open-ended Banking & Financial Services Sector Fund is an example of a
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sectorial fund
• Contrarian Fund – Contra funds are equity mutual funds that take a contrarian view on
the market. The portfolios of contra funds have defensive and underperforming stocks that
have given negative returns during bear markets. Ex- SBI India Contra Fund.
• Index Fund – Index Fund are those funds whose movements depends upon themovements
of index. Charges of index fund are less.
• Foreign Funds – Foreign fund invests in firms in countries other than the ones they reside.
It is also called overseas or International mutual funds. Investing in them meanshigh risk
exposure, but at the same time there are chances of higher returns as well.
• Fund of Funds – Fund of Fund is a mutual fund scheme that invests in other mutual fund
schemes. In this, the fund manager holds portfolio of other mutual funds instead of directly
investing in equities or bonds. The fund may choose to invest in scheme of the same or
different fund house.
Debt Fund
Debt funds are mutual funds which invest your money in a fixed interest earning
instruments like treasury bills and certificate of deposits. The main aim to invest in a debt fund
is to make more wealth by means of interest income.
Types of Debt funds,
• Short term Debt Fund – Short term debt fund is a mutual fund scheme with a shorter
holding or maturity period of less than 3 years. Investment is done in debt instruments
like Certificate of deposits, Treasury Bills etc.
• Medium term Debt Fund – Medium term debt fund is a mutual fund scheme with a
holding or maturity period of 3 years to 5 years.
• Long term Debt Fund – Long term debt fund is a mutual fund scheme with a holding or
maturity period of more than 5 years.
Balanced Fund
A balanced or hybrid represents an investment mix by investing in a mix of debt and equity
instruments. It aims to balance the risk-reward ratio and ensures a return. In India, the Best-
Balanced Mutual Funds typically invest 50% to 70% of their portfolio in stocks and the
remainder of their resources in bonds and other debt instruments. So, they are usually equity-
oriented hybrid funds. As a low-risk investment, they serve as a suitable option for first-time
investors. They are for investors who do not want to take on risky options, but still want capital
appreciation.
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2.2 Systematic Investment Plan (SIP)
Systematic Investment Plan (SIP) is a strategy to invest a certain amount of money at regular
intervals weekly, monthly or quarterly. SIP is the smartest way of investing in mutual fund. A
fixed amount of money is auto- debited from your bank account and you are assigned a no. of
units as per the present NAV. Basically it is a planned approach towards investment. When
money is invested on the basis of average NAV so that it can cover both falling& rising price,
so this plan is called SIP.
STEP TO CHOOSE THE MUTUAL FUNDS
Mutual fund companies provide various ways for investors to select the type of fund they
want to invest in by considering their risk appetite and hence providing them with
different investment opportunities, which help investors to diversify their portfolio and reduce
the risk.
Following are the steps to choose any mutual fund-
A. Risk Profiling Questionnaire:

The risk profiling questionnaire is used to measure the risk tolerance as well as the time
horizon in investing. It is designed to show which type of investment approach may suit you
best. Each answer would be given a point. Based on your point, an investor could be-
1. Very Cautious- 100% Debt

2. Cautious – 30% Equity and 70% Debt
3. Moderate or Balanced- 50% Debt and 50% Equity
4. Aggressive- 70% Equity and 30% Debt
5. Very Aggressive- 100% Equity
B. Based on the Risk profile, you will get different funds. A fund should be chosen based on
their returns.
C. Charges or Expense Ratios should be checked while selecting the fund to invest in. The lower
the charges, the better the fund is.
D. Apply Ratio (Sharpe/ Tenure)
How does SIP work
Investment in SIP is very simple. Steps are as follows-

• You apply for one or more SIP plans.
• Amount is automatically debited from your bank account.
• Based on NAV, you are allocated certain no. of units
• Every time you invest, you choose to invest in best SIP plans.
• Now additional units are added to your account based on current market rate.
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• So, when prices are high, investor buy more units and vice-versa
2.3 RISK PROFILE QUESTIONNAIRE AND COCLUSIONS

Here is the questionnaire which was formed by our whole group in HDFC Life in order to
predict the Risk profile of different investors: -
1. Age
• 20-28 (7 points)
• 29-37 (9 points)
• 38-46 (5 points)
• 47-55 (3 point)
• 55 above (1 point)
2. Income
• up to 5 lakh per annum (1 point)
• 6 to 10 lakh per annum (3 points)
• above 20 lakhs (9 points)
3. what is more important to you as a customer / investor?

• high risk, high return (9 points)
• moderate risk, moderate return (5 points)
• low risk, low return (3 point)
4. which sector would you choose to invest in?

• banking sector (5 points)
• pharma sector (5points)
• hospitality sector (7 points)
• NBFC (9 points)
• Others (7 points)
5. which of the following is more important to you as a customer?

• Fund performance (7 points)
• Charges (5 points)
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6. your primary objective of investment?
• Tax benefit (7points)
• Retirement benefit (5 points)
• Education benefit (3 points)
• Appreciation of capital (9 points)
• Others (1 point)
7. if the expected returns did not match the actual returns, how would you feel?
• Not at all concerned (9 points)
• Less concerned (7 points)
• Somewhat concerned (5 points)
• Concerned (3 points)
• Highly concerned (1 point)
8. If you win a lottery worth 10 Lakhs, what it the most probable thing you will do out of it?
• Invest the whole amount i.e., 100% investment (9 points)
• 70% investment and save 30% of it (7 points)
• Invest and save the equal amount (5 points)
• 30% investment and save 70% of it (3 points)
• Save the whole amount (1 point)
9. How long are you willing to invest your money?

• Less than 1 year (1 point)
• 1-3 years (3 point)
• 3-5 years (5 points)
• More than 10 years (9 points)
10. How long are you willing to wait for your investment to meet your expected rate of return?
• Less than 1 year (1 point)
• More than 10 years (9 points)
The main aim of circulating this questionnaire is to find the risk profile of any particular investor and
based on which I can suggest them the best investment option which suits their profile.
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• Risk Analysis- Based on the total points from the Risk Tolerance section, the applicable Risk Profile
would be:
INVESTOR PROFILE SCORE DESCRIPTION

CONSERVATIVE 0 – 15 A conservative investor who wants the
safeguard of his current investment capital over
the desire for increasing potential returns
MODERATE 16 – 30 This type of investor seeks income with some
potential for capital growth. Prefers low level of
investment value
BALANCED 30 – 45 This is a balanced investor with some
understanding of the investment market
behavior. Prefers a balance between capital
growth and capital security.
ASSERTIVE 46 – 60 Mostly interested in maximizing long term
capital growth. Happy to take calculative risk in
order to earn long term profits.
AGGRESSIVE 61 above This type of investor is strongly biased towards
investments with high growth potential. Willing
to accept higher performance fluctuations in
return for higher potential growth.
Table: RISK PROFILE DETAILS
Now from the above table we can tabulate the no of respondents into their respective risk profiles.
Below table shows the total no of respondents out of all the 55 responses according to their risk profile
and the type of investment they would want to invest into.
RISK PROFILE NO OF PROPORTION

RESPONDENTS
CONSERVATIVE 0 100% debt
MODERATE 3 30% equity & 70% debt
BALANCED 15 50% equity & 50% debt
ASSERTIVE 21 70% equity & 30% debt
AGGRESSIVE 16 100% equity

Table: investment proportion based on risk profile
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Suggesting the funds that they can choose from- below given are different types of mutual
funds that are being analyzed by their CAGR, NAV, AUM and EXPENSE RATIO
BEST LARGE CAP MUTUAL FUNDS
BEST SMALL CAP MUTUAL FUNDS
BEST MULTI-CAP MUTUAL FUNDSBEST SECTORAL MUTUAL FUNDS
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BEST INDEX MUTUAL FUNDS
BEST FUNDS OF FUNDS
BEST DEBT MUTUAL FUNDS
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BEST FOREIGN MUTUAL FUNDS
BEST BALANCED MUTUAL FUNDS
CONCLUSION
• All the above tables contain the different types of mutual funds and each table shows the best 5
type of that particular mutual fund.
• The investors can invest their desired amount on the fund of their choice, within their risk profile
category, depending on the returns they want to gain and the charges they want to bear.
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3.LIVE TRADING
3.1. ABOUT
Live trading is an act of participating in the financial markets, which seeks to outperform
traditional buy-and-hold investing. Instead of waiting to profit from long-term investments in the
markets, traders seek short-term price movement in LIVE order to earn profit during both rising
and falling markets. These platforms are normally provided by internet-based brokers such as
Zerodha, Share Khan, Angel Broking and Banks also and are accessible to every singleindividual
who wants to make money from the market.
Ways of Making Profit in Stock Market
• First way is a basic BUY – SELL situation in which we buy the stock at a lower pricing
predicting that its price will increase in future and sell it at a higher price to make profit.
• In second case we do SHORT SELLING. Short selling is the sale of a security that is not
owned by the seller or that the seller has borrowed from the broker. Short selling is
motivated by the belief that a security's price will decrease in future, enabling it to be
bought back at a lower price to make a profit. In simple words we sell the share at a higher
price predicting that it will decline in the future and buy it at a lower price to make profit.
Fig: Candlestick Chart of Live Market
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TYPES OF LIVE TRADING
Intraday trading: It refers to buying and selling of shares on the same day without holding any
positions overnight. As we trade on the Zerodha platform here it represents MIS as intraday trading.
Micro trading (scalping) is about trading that lasts from seconds to minutes.
BTST (Buy Today Sell Tomorrow): It refers to buying shares on a particular day holding them
for (t+2) days. This is basically for a shorter period of time.
Delivery: Here the trader buys the share and stocks are added to our Demat account and it remains
in our portfolios till the trader decides to sell them. On the Zerodha trading platform, it is being
represented as CNC.
3.2. STRATEGIES AND INDICATORS
BULL 180
This strategy can be implemented when three or more red candles of 5 minutes each get completed
and the next 5-minute candle is the green one and is larger than the previous red candle then this BULL
180 Strategy can be implemented. Here the trader will be buying the stock once the green candle is
completed either on market price or the price he bids or modifies. Now the same green candle will
help us in calculating the Stop Loss and Target. Double the size of the green candle and add it to the
price at which the share is bought. This will set our target. Now for Stop Loss the size of the green
candle is to be subtracted from the price at which the share was bought.
e.g.,
Applying the concepts and seeing the trend below there was an opportunity to apply Bull 180 that is
a decrease in price (Red) followed with a sudden increase (Green) and a situation when that increase
is much larger in candle size than its preceding red candle.
Target = 2.7*2+742.95 (Share price) = 748.95

However even though the prediction was that the price will rise however the opposite happened.
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That’s when stop loss comes into play where,
SL= Lower limit of the Increasing Candle (Green) = 739.75 which limited our loss to -3.7 and
minimizing risk overall
BEAR 180
This strategy can be implemented when three or more green candles of 5 minutes each get completed
and the next 5-minute candle is the red one and is larger than the previous green candle then this BEAR
180 Strategy can be implemented. Here the trader will be selling the stock once the red candle is
completed either on market price or the price he bids or modifies. Now the same red candle will help
us in calculating the Stop Loss and Target. Double the size of the red candle and subtracting it to the
price at which the share is sold. This will set our target. Now for Stop Loss the size of the red candle
is to be added to the price at which the share was sold.
e.g.
In this case the stock was classified with a Bear 180 trend and based on the early trends and Candle
movement investment was made. Initially this stock was very volatile however in time and over 2
hours it became constant and we were in a profitable position.
Target = 497.3-2*8= 481.3
Stop loss = 503.40
Actual price bought at 489.35 With a profit of Rs 7.95

The analysis did lead to a profitable position however over time as it became constant there was no
pint holding it and hence, we squared it off.
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These are few trades that we did on BULL & BEAT 180 during our office timings.
SQUEEZE MOMENTUM
For this strategy to be implemented we need to wait for half an hour from 9:15 to 9:45 to see which
stocks are the top gainers and top losers. In the case of top gainers, the trader buys the shares after
9:45, and in the case of top losers, the trader sells the shares
e.g.
To identify how squeeze momentum actually works as it is difficult to apply and use in intraday
transactions, the overall pattern of one stock how to be identified along with its range. So, on this
particular
day as the market was doing well hence top gainers was to be seen. As followed, Infosys was one
of the top gainers on that day and hence overall pattern had to be studied over a period of time
namely over 2 hours.
Following was the sequence of activities
In this strategy a process was to be followed

- Identify Top market gainers
- Select any 2 or 3 of them
- See which of them has gained and then stabilized
- Develop a range of fluctuations during that stable stage
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- If the fluctuation breaches the top limit, then Buy
- Buy= Target= Share price + 2* Range Size
- Stop loss = Range size
In this case
Target= 1396.35
Stop loss= 1383
Range= 6.15 (UL=1389.15/LL=1383)
Actual price executed at = 1383
This sheet shows few trades done by applying squeeze momentum strategy.
SUPER TREND
It refers to an indicator that can be used by those who are not ready to take too much risk. This indicator
helps the trader to buy the share by indicating green arrows on the candle and indicates the trader to
sell the share by indicating red arrows on the candle. For this, the trader needs to patiently watch the
charts of the shares carefully so that they can buy or sell as per the indicator. Here the Stop Loss and
Target for that particular share depend on the trader itself on how should they set the limit for that
particular share.
e.g.
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GOLDEN CROSSOVER STRATEGY
This strategy is used by adding two moving average indicator lines of 50 and 21 on the shares. When
the Moving Average 21 line cuts the Moving Average 50 line from downwards at the same time, we
buy that particular stock. This is called Golden Crossover Strategy. The Target and Stop Loss for any
particular stock where Golden Crossover Strategy is formed depends on the trader upon how much
they want to set
e.g.
This sheet shows trades done by implementing golden cross strategy.
DEATH CROSSOVER STRATEGY
This strategy is used by adding two moving average indicator lines of 50 and 21 on the shares. When
the Moving Average 21 line cuts the Moving Average 50 line from upwards at the same time, we short
sell that particular stock. This is called Death Crossover Strategy. The Target and Stop Loss for any
particular stock where Death Crossover Strategy is formed depends on the trader on how much they
want to set.
e.g.
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These are the trades done by using death cross strategy.
ORB 45
Opening Range Breakout trading strategy has become very famous among the trader community. It
helps to make quick money that’s why traders love this technical analysis setup. This Trading Strategy
is applicable only for Intraday trading.
ORB Trading Strategy lets you quickly print money irrespective of the bull or bear attack with 90%
accuracy. ORB is nothing but the opening range breakout trading strategy. You may find it when a
range has been broken after a certain period of time from the market opening time.
e.g.
Trades done using ORB strategy.
Page | 19
4.PROJECT
4.1. INTRODUCTION
The project report is based on fund management of different stocks by performing fundamental
analysis of a particular sector. I have chosen Hospitality Sector to go forward with my analysis.
I have started the research by studying the sector initially which helped me understand how is
the sector performing as compared to the other sectors and among the overall market.
The hospitality industry in India been scoring a moderate growth number from the past few
years and has great potential to score an even greater number in the future. India has been
registering a growing number of foreign tourists year on year. The nation’s cultural bases,
diversity in traditions and food choices are making it a heritage rich nation along with several
other factors. The government has been making efforts to boost investments in the Indian
tourism sector. India received Foreign Direct Investment of INR 4,30,000 Cr in 2016-2017.
The 100% FDI in the hotel and tourism sector is paving its way to more investments in the
country through the automatic route.
Hospitality Industry in India covers the major international players and the leading domestic
players in the hotel and hospitality industry in India. The hospitality sector in India is dynamic
and emerging. It holds greater potential to grow for both the national and international players
who are interested to enter the Nation’s hospitality industry and as far as my project is
concerned, I have got to analyze the mid-cap hospitality sector of the country.
The list of hotels which comes under my study are as follow: -
1. The Indian hotel
2. Westlife development
3. EIH Ltd.
4. Indian tourism D
5. Chalet hotel
6. Lemon tree hotel
7. Mahindra holiday
Thereafter, I collected both primary and secondary data, periodically in order to maintain a
regular update on the result to be obtained with series of calculations. Daily analysis is done
by observing the changes in the data and accordingly decision will be made about the
respective stocks that would give me the desired result after certain period of time
Page | 20
4.2 OBJECTIVE
• To understand the calculation of an index of a particular sector which in my case is (Hospitality

sector mid-cap).
• The main objective of the project is to do the fundamental & technical analysis of the chosen
sector.
• To learn the trading of stocks in stock exchanges.
• To allocate funds on the companies of my sector and to check whether it’s beating my sector
index or not.
4.3. METHODOLOGY
Data used for the fundamental analysis are both Primary Data and Secondary Data. Primary
data includes the daily closing price of the selected stocks in the hospitality sector.
Secondary Research - Secondary market research is a branch of research that is already

assembled and put in order. Secondary research helps gain knowledge about the market
before more extensive research is needed. For this project, using secondary research over
primary research is more beneficial since the research has already been analyzed by
someone.
Internal sources – companies‟ website and annual reports
External sources – information available on the internet, money control, newspapers etc.
Technical analysis involves analyzing the charts of the stocks and framing various patterns
that would suggest us with various indication regarding the future happenings of a particular
stock.
Here the primary data would be the candle stick charts of the stocks that can be analyzed
and the secondary data involves the past findings.
4.4 INDEX
Stock market indices measure the value of a segment of a country’s stock market These
indices help investors and analysts describe the market and compare investments.
Some of the recognizable Indices of India are: -
• Benchmark Indices: NSE Nifty and BSE Sensex
• Broad-based Indices: Nifty 50, S&P BSE 100
• Indices based on Market Capitalization: Nifty Midcap 100, S&P BSE Large Cap
• Sectorial Indices: Nifty IT, Nifty Pharma, Nifty Auto, BSE Oil & Gas
Some of the recognizable Global Indices are: -
• US Market: NASDAQ, Dow Jones
• European Markets: FTSE (United Kingdom), CAC (France), DAX (Germany)
Page | 21
• Asian Markets: SGX Nifty (Singapore), NIKKEI 225 (Japan), Hang Seng (Hong
Kong).
Value also changes accordingly. The value of the stock market index is calculated using
values of the underlying stocks, by the method of weighted average of selected stocks.
The
stock could be selected on the basis of the type of industry, market capitalization or the
size of the company.
Any change taking place in the prices of underlying stock impact the overall value of
the index. If the prices of most of the underlying stocks rise,then the index will rise and
vice-versa. In this way, a stock index reflects overall marketsentiment and direction of
price movements of products in the financial, commodities or any other markets.
4.4.1 CALCULATION OF INDEX

The calculation of index is done as follow:
Steps to calculate the index change are as follows: -
• Assume the benchmark index of manufacturing sector as 1000
• Note the closing the price and the market capitalization of the stocks on the first day.
• Calculate the number of shares for each stock by,
Number of shares = market cap / close price
(Note: Number of shares of a company do not change, unless new are issued)
• Calculate the weightage of each stock. This shows how much percentage each stock
holds in the manufacturing sector (large cap),
Weightage = market cap (respective stock) / total market cap
• Next the day, again note the closing price of that particular day.
• Now, calculate the percentage change in price of each stock, which is done by,
Change in Price (%) = (initial price – last price / initial price) * 100
• Thereafter, calculate the actual change in price for each share. This gives us the change
in weightage.
Actual Change in Price = Weightage × Change in Price
• Finally, calculate how much the benchmark index is affected due to change in
weightage of each of stock by,
Value of index due to change in weightage = 1000 × Actual Change in Price
• Summation of each of the value change due to change in weightage with 1000
(benchmark index) gives the new index for the second day.
• calculation to be continued for each trading day thereafter, and observe the change
in the index of HOSPITALITY Mid Cap companies (stocks) of Hospitality Sector Y sector
(mid - cap) with respect to the market.
Page | 22
COMPANY NAME NO. OF SHARES
The Indian hotel 118.9259
Westlife development 15.5780

EIH Ltd. 62.5365
Indian tourism D 08.7683
Chalet hotel 20.0550
Lemon tree hotel 79.2247
Mahindra holiday 133.5348
Table:
MID CAP COMPANIES (STOCKS) OF HOSPITALITY SECTOR
DAY 1 – (26/03/21)
COMPANY NAME LAST % MKT WEIGHTAGE NO. OF
PRICE CHANGE CAP(CR) SHARES
1.Indian hotel 108.3 5.15 12879.67 0.2032 118.92
2.Westlife 458.5 1.89 7142.51 0.1127 15.57
development
3.EIH Ltd. 95.7 -0.10 5984.74 0.0944 62.53
4.India tourism D 356.7 -1.58 3127.64 0.0493 8.76
5.Chalet hotel 152.55 0.55 3059.39 0.0483 20.05
6.Lemon tree 36.8 0.82 2915.47 0.0460 79.22
7.Mahindra holiday 211.8 1.15 28282.67 0.4462 133.53
TOTAL 63392.09
BASE INDEX VALUE = 1000
INDEX SHEET- 1
Page | 23
DAY 2 – (30/03/21)
COMPANY LAST NET % CHANGE MKT WEIGHTAGE NO. OF
NAME PRICE CHANGE CHANGE ON CAP(CR) SHARES
INDEX
1.Indian 106.25 -0.0193 -0.0039 -3.92 12635.87 0.2021 118.92
hotel
2.Westlife 448.4 -0.0225 -0.0025 -2.53 6985.17 0.1117 15.57
development
3.EIH Ltd. 91.95 -0.0408 -0.0039 -3.85 5750.22 0.0920 62.53
4.India 399.6 0.1074 0.0053 5.29 3503.79 0.0561 8.76
tourism D
5.Chalet 149.45 -0.0207 -0.0010 -1.001 2997.22 0.0479 20.05
hotel
6.Lemon tree 35.8 -0.0279 -0.0013 -1.28 2836.25 0.0454 79.22
7.Mahindra 208.2 -0.0173 -0.0077 -7.71 27801.94 0.4448 133.53
holiday
TOTAL -15.01 62510.48
INDEX VALUE ON 30/03/21 = 984.9884
• In the above two sheets, we can see that they are describing how the index for a particular
sector can be maintained and how can we keep a record of the changes in the index each
day.
• We must note that the no. of shares of a stock don’t change unless new ones are added, so
in the above images we can see that the no of shares everyday are same, but almost
everything other than the no. of shares gets effected due to fluctuations in the price of the
stocks such as market capitalization, net change, percentage change and the change on
index for different days.
• We assumed the base index as 1000 on 1st day (26/03/21) and after getting the last price
on the next day and then doing further calculations, we got to know about the change in
the index value and the new value for the index on the next day (30/03/21) was 984.9884.
Similarly following the same procedure, we found the index value for the next day
(31/03/21) to be 994.3447.
• Here the reason for the changing values of the index is the daily fluctuating prices of the
stocks of the sector. By maintaining the index on daily basis, we can get an idea about
how the particular sector is performing and take our decisions accordingly.
Page | 24
4.5 FUNDAMENTAL ANALYSIS
Fundamental analysis is the examination of the underlying factors that influence the prosperity of the
economy, business groups, and organizations. Similarly, as with most analysis, the objective is to
derive a forecast and benefit from future price movements. At the organization level, Fundamental
analysis may include examination of financial information, the board, business idea and competition.
At the business level, there may be an examination of supply and demand forces for the products
advertised. For the national economy, Fundamental analysis may concentrate on monetary information
to survey the present and future development of the economy. To forecast future stock prices,
Fundamental analysis consolidates financial, industry, and company's analysis to infer a stock's
present fair value and figure out future value. If fair value isn't equivalent to the present stock value,
Fundamental analysts believe that the stock is either overvalued or undervalued and the
market price will ultimately gravitate towards fair value.
Fundamentalists don't need the counsel of the random walkers and trust that markets are weak form
efficient. By trusting that prices don't accurately reflect all accessible data, fundamental analysts look
to capitalize on perceived price discrepancies.
4.5.1 STEPS FOR SECTORAL FUNDAMENTAL ANALYSIS: -

• Select a sector for doing the analysis (i.e., my sector is “hospitality” mid-cap)
• In this we take mid cap stocks only.
• Check the last closing price of the final companies and note it down.
• Get the P/E value of the finally selected stocks. It can be calculated or can be seen in the company
details.
[P/E = Current Price / EPS (earnings per share)]
• Calculate Industrial P/E by taking the average of the P/E‟s of the stocks in the list.
• Take out EPS from Annual reports of the companies.
• Using Industrial P/E we can see if the stock is overvalued or undervalued.
• If the value is above Industrial P/E then it’s overvalued and If below then Undervalued.
• Undervalue stocks are considered to be hidden gems of under performer stocks, and overvalued
stocks are considered to be out performer.
• Undervalued stocks are further analyzed by the Top Line (Revenue) and Bottom Line (Profit).
• Overvalued stocks are analyzed by PEG ratio.
Selecting the value pick stocks:

Next step is to take all the undervalued stocks and analyzing their revenue and profit. The idea is to
see whether both of them are increasing or decreasing.
Also, we’ll see the topline factors on the company according to the sector in which it “lying. If both
revenue and profit are decreasing then only, we reject that stock. We will reject some stocks after this
analysis and the remaining ones will be value pick stocks.
Page | 25
Selecting the growth pick stocks: -
• We will take all the Overvalued stocks and calculate their PEG ratio value.
[PEG = (P/E) Ratio / EPS growth]
• The EPS growth is percentage growth in EPS of the company compared to last financial year.
• The value that we will put in the EPS growth should be the percentage value. For e.g. If the EPS
has increased by 20% then we will right the value 20, not 0.2.
• If the EPS has decreased then the stock is removed. And we will take the stocks whose PEG value
is 1 or below that. Maximum that can be considered is a value around 1.25.
• We will be having the list of growth pick stocks after this analysis.
4.5.2 RANKING:
• Now once we have value pick and growth pick stocks list, we’ll see how much investment should
be done in which stock and for that we need to rank them. The first ranked will get the maximum
allocation of the fund and the last ranked will have minimum.
• The ranking is done by comparing the important financial ratios of the sector according to their
weightage of importance in the industry. Ranking is given to both the selected “Value pick” stocks
and the “Growth pick” stocks together. The stock ranked no. 1 will get the highest investment.
• As a mutual fund manager, we will allocate the fund according to the ranking of the stocks.
• After the allocation of the funds the daily NAV (net asset value) is calculated from the portfolio
according to the change in the price of the stocks.
NAV= AUM / NUMBER OF UNITS
(AUM = Asset under management)
• The aim is to beat our own sectorial index when it comes to comparison with our daily NAV values.
• Initially I was given a total fund of 10 cr for my sector and we assume the number of units as 1 cr
and therefore the initial NAV will be
NAV = AUM/ no of units
Therefore, NAV = 10
• From the next day I have to find the new NAV value based on the changes on my sectorial index
and check whether my allocation is beating my index or not which is dependent on the fluctuations
of the stock prices of the finally selected companies.
• We have to maintain the index as well as the NAV values on daily basis so as to keep a track of
the changes so that it becomes easy for us to evaluate the portfolio performance at any given point
of time.
Page | 26
4.5.3 FUNDAMENTAL ANALYSIS OF HOSPITALITY SECTOR (mid-cap)
I have done a fundamental analysis of my sectors, which includes determining the overvalued and
undervalued stocks based on their P/E with respect to the overall P/E of the industry.
The table below shows the mid cap companies of my sector i.e., Hospitality and their respective P/E
ratios along with the average sectoral P/E ratio.
COMPANIES PRICE EPS P/E RATIO

Westlife 427.1 -0.02 --21355.00
development
Indian hotel 113.9 3.38 33.698
EIH 92.45 2.18 42.408
ITDC 347.7 3.56 97.669
Chalet hotel 147.95 3.98 37.173
Lemon tree hotel 38.4 0.41 93.659
MHRIL 211 9.48 22.257
SECTORAL P/E 54.477
Table: companies with p/e ratio
P/E ratio = price per share / EPS
Based on the P/E ratio we categorize the companies into UNDERVALUED & OVERVALUED.
The company having P/E ratio below the average sectoral P/E ratio is kept in UNDERVALUED &
the company having P/e ratio above the sectoral P/E ratio is kept in OVERVALUED.
UNDERVALUED COMPANIES OVERVALUED COMPANIES

Chalet hotel ITDC
EIH Lemon tree hotel
Indian hotel
MHRIL
Table: overvalued & undervalued
Now as we have categorized the companies into undervalued and overvalued, now for the undervalued
companies we will find the change in revenue and profits and compare them in order to determine the
value picks.
Page | 27
UNDERVALUED COMPANIES
company revenue revenue profit profit revenue profit decision
(2020) (2019) (2020) (2019) change change
Chalet 1003.77 1030.78 81.61 -10.21 Decreases Increases Value
hotel pick
EIH 1434.31 1627.25 124.47 113.34 Decreases Increases Value
pick
Indian 2877.88 2870.91 401.41 263.7 Increases Increases Value
hotel pick
MHRIL 1037.12 963.44 -108.21 63.86 Increases Decreases Value
pick
Table: value pick of undervalued companies
Criteria for value pick: - a company showing increase in its profits or revenue or both is a value pick
and a company showing decreasing trend in both profits and revenue is not a value pick.
Now, for the OVERVALUED companies we find the PEG ratio.

So, the PEG ratio is calculated as follow: -
[PEG = (P/E) Ratio / EPS growth]
OVERVALUED COMPANIES
Company EPS EPS EPS P/E ratio PEG ratio decision
(2020) (2019) change
ITDC 3.56  −  − Reject
lemon tree   −  − Reject

hotel
Table: growth pick of overvalued companies
Criteria for growth pick: - companies having PEG ratio between 0 to 1 are growth and on the other
side, the companies having PEG ratio outside this range are not selected.
here the PEG ratio for both the companies is out of the specified range, therefore they are not selected.
Therefore, the final companies selected for further analysis are shown in the table below: -
FINAL COMPANIES
Chalet hotel
EIH
Indian hotel
MHRIL
Table: final companies
Page | 28
RANKING
For a proper asset allocation, we need to rank the companies and then allocate the funds
accordingly. So, I have taken into consideration 5 best ratios of the hospitality sector in order
to rank the final companies.
Therefore, the ratios taken into consideration here are as follow: -
1. Current ratio
2. Quick ratio
3. Return on equity (ROE)
4. Debt to Equity ratio
5. Inventory turnover ratio (ITR)
WEIGHTED RATIO BASED RANKING

Chalet EIH Indian MHRIL
hotel hotel
R1 1.02(0.25) 0.61(0.25) 0.93(0.25) 2.38(0.25)
(current
ratio)
R2 5.26(0.30) 4.26(0.30) 8.75(0.30) 0(0.30)
(ROE)
R3 2.49(0.05) 25.83(0.05) 46.47(0.05) 206.87(0.0
(ITR) 5)
R4 0.45(0.25) 0.52(0.25) 0.88(0.25) 2.37(0.25)
(quick
ratio)
R5 (D/E 0.97(0.15) 0.13(0.15) 0.37(0.15) -0.24(0.15)
ratio)
SUM 2.214 2.870 5.453 11.494
RANK 1 2 3 4
Table: ranking
So, the ranking of the final companies from 1 to 4 is as follow: -
Chalet hotel → EIH → Indian hotel → MHRIL
Page | 29
4.5.4ASSET ALLOCATION
Asset allocation is the rigorous implementation of an investment strategy that attempts to

balance risk versus reward by adjusting the percentage of each asset in an investment portfolio
according to the investor's risk tolerance, goals and investment time frame. The focus is on
the characteristics of the overall portfolio. Such a strategy contrasts with an approach that
focuses on individual assets.
SECTOR FUND PORTFOLIO

• After the ratio analysis of the selected companies, funds are allocated to the stocks of those
selected companies based on the ranks allotted to them.
• The lowest ranked company will get the highest investment i.e., the lower, the better. As
a fund manager, I will allocate the funds to the companies according to the ranks.
• After the allocation of the funds, the daily NAV (Net Asset Value) is calculated of the
portfolio as per the change in the price level of the stocks under the portfolio
NAV COMPARISON
• NAV for everyday after the fund allocation is calculated and it is to be maintained on daily
basis.
• The difference in NAV for each day compared to the previous day is calculated.
• After checking the change in NAV for, we will see whether the NAV has crossed the
benchmark i.e., sectoral index and if the NAV has crossed the benchmark, then this implies
that the portfolio is outperforming and if not, then we need to wait for the NAV to beat or
else we can do some changes in our portfolio.
• On any day, an investor can look at the percentage change in index and percentage change
in NAV to come to the conclusion if he wants to invest in that particular portfolio of stock.
FUND ALLOCATION FOR THE “HOSPITALITY SECTOR”

• The amount of Rs 10 crore is assumed to be taken.
• Fund allocation to the final companies is based on the rank i.e., low rank to high rank.
• The number of units assumed is 1 crore.
• We know, NAV= AUM / NUMBER OF UNITS

NAV = 10 cr / 1 cr
= 10.
So, base NAV is 10
Page | 30
19/05/2021
FUND ALLOCATION BASED ON RANK (INITIAL FUND = 10 cr)
Companies price No of AUM
shares
Chalet hotel 156.6 223499.361 35000000
EIH 98.85 303490.136 30000000
Indian hotel 129 155038.759 20000000
MHRIL 217.5 68965.517 15000000
TOTAL 100000000
Table:
Here, base index value = 1042.3459

no of units assumed = 1 cr
AUM total = 10 cr
Therefore, base NAV (first day of fund allocation) = 10 cr / 1 cr
= 10
After the allocation of funds to the stocks of final companies on day 1, we need to calculate
the NAV for each day thereafter and see whether our fund allocation is beating the benchmark
i.e., (sectoral index) or not.
20/05/21
companies price No of AUM
shares
Chalet hotel 155 223499.361 34642401.02
EIH 97.2 303490.136 29499241.27
Indian hotel 128.45 155038.759 19914728.68
MHRIL 217.45 68965.517 14996551.72
TOTAL 99052922.7
Table:
Index value on 20/05/21 = 1037.2828
No of units = 10000000
New AUM = 99052922.7
Therefore, NAV = 99052922.7 / 10000000
= 9.91
Page | 31
21/05/21
companies price No of AUM
shares
Chalet hotel 157.35 223499.361 35167625
EIH 100 303490.136 30349014
Indian hotel 130.1 155038.759 20170543
MHRIL 217.1 68965.517 14972414
TOTAL 100659595
Index value on 21/05/21 = 1046.2998

No of units = 10000000
AUM = 100659595
Therefore, NAV = 100659595 / 10000000
= 10.065
4.5.5. Criteria for the Comparison of NAV & benchmark

• As we are maintaining the benchmark index of our own sector as well as the NAV value
on daily basis, so in order for our portfolio to outperform, the change in NAV should be
more than the change in our benchmark index when it is an increasing trend and the
change in NAV should be less in comparison to the benchmark index when it is a
decreasing trend.
• If the NAV follows the above criteria, then we can say that our portfolio is outperforming
and if not, then we must wait for long term observation or else we should make some
changes to it where ever required.
COMPARISON OF CHANGES ON NAV & INDEX VALUE (BENCHMARK)

date index Change NAV Change
in index in NAV
19-05- 1042.3459 10
21
20-05- 1037.2828 -0.49% 9.91 -0.91%
21
21-05- 1046.2998 0.86% 10.065 1.54%
21
24-05- 1055.8217 0.90% 10.365 2.89%
21
Page | 32
• In the above table, we can see that on 20/05/21 both the index value as well as the NAV
are decreasing, but the change in NAV is more as compared to the change in index value
and that too in negative trend. Therefore, on this date, we can say that our portfolio is not
outperforming.
• Similarly, on 21/05/21 we can clearly see that both the index value as well as the NAV are
increasing, but here the change in NAV is more as compared to the index value in the
positive direction. Therefore, on this date our portfolio is outperforming.
This is how we can keep a track of our change in NAV and index value so that it becomes
easy for us to evaluate the performance of our portfolio.
Page | 33
5.4.6. FUND SHEET
SECTOR FUND – FINANCE (TERM LENDING)
About the Fund Date of Inception: 19-MAY - 21

212121212121
OBJECTIVE: To maximize wealth by actively managing a well-diversified, sector-specific equity
portfolio.
STRATEGY: To build and actively manage a well-diversified equity portfolio of value and growth
driven stocks. The fund will also explore the option of having exposure to quality mid-cap stocks.
This fund is suitable for those who want to have wealth maximization over the long-term period with
equity market dynamics.
NAV as on 19TH MAY 2021: Rs 10 Cr. BENCHMARK: Sector Index
Asset held as on 19TH MAY 2021: Rs 10 Cr. FUND MANAGER: ARIF HUSSAIN
Securities Holding. Asset Allocation
Equity 100%
Chalet hotel 35%
EIH 30% Equity
100%
The Indian hotel 20%
MHRIL 15%
AUM (in Cr.)
Equity
10 Cr.
Page | 34
4.6 TECHNICAL ANALYSIS
Technical Analysis is the anticipating of future monetary value movements dependent on an

examination of past price fluctuations. Like weather forecasting, technical analysis does not
result in total expectations about the future. Rather, technical analysis can enable investors to
envision what is "likely" to happen to price over time.
Technical Analysis utilizes a wide range of charts that show price over time. Technical
Analysis is appropriate to stocks, lists, commodities, futures or any tradable instrument where
the price is affected by the market forces i.e., demand and supply of product. Price here means
any mix of the open, high, low, or close for a given security over a particular time period.
The time allotment can be founded on intraday (1-minute, 5-minutes, 10-minutes, 15-
minutes, 30- minutes or hourly), every day, week by week or month to month value
information and last a couple of hours or numerous years. Also, some technical analysts
incorporate volume or open interest figures with their analysis of price movement.
How Technical Analysis Is Used

Technical analysis attempts to forecast the price movement of virtually any tradable
instrument that is generally subject to forces of supply and demand, including stocks, bonds,
futures and currency pairs. In fact, some view technical analysis as simply the study of supply
and demand forces as reflected in the market price movements of a security. Technical
analysis most commonly applies to price changes, but some analysts track numbers other than
just price, such as trading volume or open interest figures. Across the industry there are
hundreds of patterns and signals that have been developed by researchers to support technical
analysis trading. Technical analysts have also developed numerous types of trading systems
to help them forecast and trade on price movements. Some indicators are focused primarily
on identifying the current market trend, including support
and resistance areas, while others are focused on determining the strength of a trend and the
likelihood of its continuation. Commonly used technical indicators and charting patterns
include trend lines, channels, moving averages and momentum indicators.
In general, technical analysts look at the following broad types of indicators:

• price trends
Page | 35
• chart patterns
• volume and momentum indicators
• oscillators • moving averages
• support and resistance levels
4.6.1 Different charts and their analysis in long term

Technical Analysis helps in identifying long term trend by analyzing the change in price over
a period of time. There are different shapes and curves that are formed while doing this
analysis and these curves help us to predict bid and ask point. Money can be easily made
using these indicators as per the market situations. There are 3 types of trends known as
uptrend, downtrend and sideways. And we need to figure out the trend reversal point in order
to choose our buying and selling position. Different types of chart patterns & graphs are used
for analyzing the trends.
Most frequently used chart patterns are mentioned below
1) Rounding bottom
Rounding bottom is a long-term reversal pattern that is mostly used for weekly charts. It is
also known to as a saucer bottom, and depicts a long consolidation period that changes from
a bearish bias to a bullish bias. A rounding bottom could be thought of as a head and shoulders
bottom without readily identifiable shoulders. The head shows the low and is fairly central to
the pattern. The patterns of volume are same and confirmation comes with a resistance
breakout. While symmetry is preferable on the rounding bottom, the left and right side do not
have to be equal in time or slope.
2) Cup with handle

A Cup and Handle chart represents a bullish continuation pattern in which the upward trend
has paused but will follow an upward direction once the pattern is confirmed. Pattern of the
price shows what looks like a cup, which is preceded by an upward trend. The handle follows
the cup formation and is formed by a generally downward/sideways movement in the
security's price. After the price movement pushes above the resistance lines formed in the
handle, the upward trend can continue. There is a long-time frame for this type of pattern, with
the span ranging from several months to more than a year
.
Page | 36
3) Bump and Run reversal
The bump and run patterns (or BARR) represent setbacks to existing trends, both in the short
and long term. Barr mode is easy to detect by drawing a one-way line that touches the low
point of movement, while BARR inverted position touches the moving height.
4) Head & Shoulder (Top and Bottom)

One of the most popular and reliable chart patterns in technical analysis is head and shoulder.
Head and shoulders is a reversal chart pattern that when formed, shows that the stock is likely
to move opposite as compared to the previous trend. There are two sub types of the head and
shoulders chart pattern. Head and shoulders top is a chart pattern that is formed at the high of
an upward movement and shows that the upward trend is about to end. Head and shoulders
bottom, also referred as inverse head and shoulders is the lesser known of the two, but is used
to show a reversal in a downtrend.
Two of these head and shoulders patterns are similar as there are four main parts: two
shoulders, a head and a neckline. The reaction lows of each peak & troughs can be connected
to form support, or a neckline. Also, each individual head and shoulder is comprised of a high
and a low. Take into consideration that an upward trend is a time of successive rising highs
and rising lows. The head and shoulders chart pattern, therefore, shows a weakening in a trend
by showing the deterioration in the successive movements of the highs and lows.
Page | 37
5) Double Top
Double Top" is the name of a special chart pattern that is shaped like "M". This is a chart
pattern that warns investors that prices have reached the top and will fall in the future. This
pattern is created when the price creates a peak (left top) which is followed by a bearish
pullback (right top). The hole between the two tops is called the central hole or groove.
6) Double Bottom
Double bottom pattern is a technical analysis chart pattern that describes the change in
direction and the reflection of momentum from the previous leading price movement.
It describes a decline in the stock or index, a recovery, another decline to the same level
or the like as the original decline, and finally another recovery. The double bottom is like
the letter "W."
Page | 38
4.7 FINDINGS & CONCLUSION
Since the main project is about fundamental & technical analysis of the “Hospitality sector
mid – cap”, so the findings and conclusion will be based on those analysis: -
The findings in the project undertaken by me will be about the end result of fundamental
analysis done on my chosen sector.
There main findings are as follow: -
• I maintained the index of my sector by calculating the value of index of my sector on

daily basis in order to know how well is my sector performing in the stock market and
by looking at the index value of my sector for today i.e. ( index value on 25/05/21 =
1101.8304), I found that my sector is performing well because when I started
maintaining index on 26/03/21, I took the base index value as 1000 and from then on
there have been a lot of fluctuation on my sector index value which leads me to a
conclusion that currently my sector is performing quite well.
• Fundamental analysis mainly involved finding the best companies from my sector
companies which I did by using a proper procedure. At last, out of the 7 companies
of my sector, I found 4 companies as the final companies for my portfolio formation.
The four companies are: -
FINAL COMPANIES
Chalet hotel
EIH
Indian hotel
MHRIL
• None of the above final companies are from OVERVALUED, because the PEG ratio
for the overvalued companies did not fall in the range of 0 to 1 that is why I have to
reject.
• Findings about fund allocation are that, I have started maintaining my NAV
calculation from 19/05/21 and I’m maintaining the changes on the NAV value as well
as the fund allocation on daily basis. Till now there has been a good performance i.e.,
my portfolio is able to beat the benchmark i.e., sectoral index.
Page | 39
DATE INDEX % NAV %
VALUE CHANGE CHANGE
IN INDEX IN NAV
19-05- 1042.3459 0 10 0
21
20-05- 1037.2828 -0.49% 9.91 -0.91%
21
21-05- 1046.2998 0.86% 10.065 1.54%
21
24-05- 1055.8217 0.90% 10.365 2.89%
21
25-05- 1101.8034 4.17% 10.764 3.71%
21
The table shows the %age change in index value and NAV value. This
Process is still on as I have to keep maintaining the changes.
• From the table we can see that the NAV is beating the benchmark twice i.e., on 21-
05-21 as well as on 24-05-21.
CONCLUSION
• From the above finds I can conclude that as we have found out the best companies
from the mid-cap hospitality sector, therefore I can recommend the investors to invest
on the top performing companies of my sector.
• Moreover, we cannot judge a company by its share price, there are lot of things to be
done before we comment on the performance of any company.
• A company having high share price is necessary to be performing well or a company
having low share price is not necessary to have performing bad.
Coming to an overall conclusion, as this is a long-term analysis so the result of it

will be seen in a minimum of 1 year. I will be updating both the NAV and the index
in the future. The NAV is expected to beat the index, showing that the analysis is
accurate in the long term as well.
This report provides a clear picture to the investors, who are willing to invest in this
sector, regarding their investment decision and finding an opportunity to makeprofit.
Page | 40
5. BACK TESTING OF OSCILLATORS
Oscillators are just like other trading strategies which are used by traders in order to predict
the future happenings in the market of any particular stock.
Oscillators are chart indicators that can assist a trader in determining overbought or oversold
conditions in ranging (non-trending) markets. Most traders use multiple oscillators to confirm
range extremes and for determining the important entry and exit points.
Oscillator generally shows future movements before price action starts to show any sign of a
reversal. For this reason, these indicators can be incredibly useful in establishing potential
changes in direction.
The main motives of this topic are to show the back-test of some oscillators just to show the
usefulness of back-test.
We all know that any strategy or an oscillator can be 100% accurate or reliable, so the
question arises is how do we get to know about the efficiency of the oscillators?
The answer to this is quite simple, we all have heard that in order to predict the performance
of anything, we usually go to their past and see how it has performed. Same is the case with
oscillators, we do back-test just to see the past performance of any oscillator.
5.1 BACK TESTING

This concept is an important part of trading. For traders, back testing is a sort of guide
regarding the use of any oscillator during trading.
Back testing assesses the reliability of a trading strategy by discovering how it would have
played out retrospectively using historical data.
This theory believes that any strategy that worked well in the past is likely to work well in
the future, and conversely, any strategy that performed poorly in the past is likely to perform
poorly in the future. A well-conducted back test that yields positive results assures traders that
the strategy is fundamentally sound and is likely to yield profits when implemented in reality.
In contrast, a well-conducted back test that yields suboptimal results will prompt traders to
alter or reject the strategy.
We worked with few trading oscillators while intraday trading, they are as follow: -
1) VWAP
This oscillator gives the average price a security has traded at throughout the day, based
on both volume and price.
Back testing data of both buy and sell for a stock over a time period of 1 year is as follow:
Page | 41
2) SUPER TREND
A Super trend is a trend following indicator which is similar to moving averages. It is
plotted on price, and its placement can show the current direction. This indicator is simple
to use and is constructed with the help of two parameters, which are period and multiplier
3) AROON
The Aroon is a trending indicator that’s long been used for momentum
trading strategies. It’s especially good at locating places where a market is trending and
when trends are weakening, strengthening or possibly turning.
Page | 42
4) STOCHASTIC RSI
This is essentially an indicator of an indicator. It is used in technical analysis to provide
a stochastic calculation to the RSI indicator.
5) RSI
The RSI provides technical traders signals about bullish and bearish price momentum,
and it is often plotted beneath the graph of an asset's price.
Page | 43
6) MACD
It is defined as a trend-following momentum indicator that shows the relationship
between two moving averages of a security's price.
7) CPR
Central Pivot Range is a versatile technical indicator usually comprising of 3 levels – a
central pivot point (pivot), top central level (TC), and bottom central level (BC).
8) FIBONNACI
Fibonacci retracement levels are horizontal lines that indicate where support and
resistance are likely to occur. They are based on Fibonacci numbers. Each level is
associated with a percentage. The percentage is how much of a prior move the price has
retraced.
Page | 44
9) BOLLENGER BAND
The purpose of Bollinger Bands is to provide a relative definition of high and low
prices of a market. By definition, prices are high at the upper band and low at the lower
band.
10) PIVOT POINT

A pivot point is a technical analysis indicator, or calculations, used to determine the
overall trend of the market over different time frames. The pivot point itself is simply the
average of the intraday high and low, and the closing price from the previous trading day.
Page | 45
• These were the data which we extracted with the help of back testing.
• All the above tables show the profit & loss, total signals, total wins, total losses
about each type of oscillator.
Below is the table which actually shows the ranking of the oscillators based on their
profit probability: -
• This table shows the ranking of all the oscillators according to their win probability.
• This ranking shows how well these oscillators were during the last one year.
• This back test was done on only one stock of our chosen sector, just tom show how
back testing actually works and how useful it could be for trading.
• We can use this concept for any type of oscillator to check its performance and
accordingly perform trading.
Page | 46
6.DERIVATIVES
Derivatives are financial contracts that derive their value from the underlying assets. These
could be stocks, indices, commodities, currencies, exchange rates or interest rates. These
financial instruments help you make profits by betting on the future value of core assets.
Therefore, its value is derived from the value of the underlying asset. That's why they're called
"derivatives."
USES OF DERIVATIVES
Derivatives can be used to hedge a position, speculate on the directional movement of an
underlying asset, or give leverage to holdings.
Originally, derivatives were used to ensure balanced exchange rates for goods traded
internationally. Today, derivatives are based upon a wide variety of transactions and have
many more uses. There are even derivatives based on weather data, such as the amount of
rain or the number of sunny days in a region.
Derivatives mainly are used in the following: -
• Earn money on shares that are lying idle
• Protect your securities against fluctuations in prices
• Transfer of risk
• Benefit from arbitrage
Page | 47
6.1. TYPES OF DERIVATIVES
There are many different types of derivatives that can be used for risk management or for
speculation. Here are several of the most common.
FUTURES CONTRACT: - futures markets were come to beat the limitations of

forwards. A future contract is an agreement made through an organized exchange to buy or
sell a fixed amount of a commodity or a financial asset on a future date at a pre-decided cost.
The clearing house related with the exchange ensures settlement of these trades. A trader,
who buys futures contract, takes a long position and the one, who sells futures, takes a short
position. The words purchase and sell are metaphorical simply because there is no physical
exchange of cash or underlying asset between buyer and seller.
Features of futures contract. Futures contracts have following highlights: -

• Contract between two parties through Exchange
• Centralized exchanging platform i.e. exchange
• Price discovery through free interaction of buyers and sellers
• Margins are payable by both the parties
• Quality & Quantity decided today (standardized)
OPTIONS CONTRACT: - An Option is an agreement that gives the right, however

not an obligation, to purchase or sell the underlying asset on or before a fixed date/day, at a
stated price, for a price. The party taking a long position i.e., purchasing the option is called
buyer/holder of the option and the party taking a short position for example selling the option
is known as the seller/writer of the option. The option buyer has the right however no
obligation with respect to buying or selling the underlying asset, while the option seller has
the obligation in the contract.
Therefore, option buyer/ holder will exercise his option only when the situation seems
favorable to him, but, when he decides to exercise, option writer would be legally bound
tohonor the contract. Options may be categorized into two main types: ‐
•Call Options
•Put Options
Page | 48
Options, which gives buyer a right to purchase the underlying asset, is called call option and
the option which gives buyer a privilege to sell the underlying asset, is called put option
OPTION STRATEGIES
A) STRANGLE: - A strangle is an options strategy where the investor holds a position in

both a call and put with different strike prices, but with the same expiration date and
underlying asset. This strategy is profitable only if the underlying asset has a large price
move. This is a good strategy if you think there will be a large price movement in the near
future but are unsure of the direction. Strangles come in two forms: long and short. A long
strangle simultaneously buys an out of the money call and an out-of-the-money put option.
This strategy has large profit potential since the call option has theoretically unlimited upside
if the underlying asset rises in price while the put option can profit if the underlying asset
falls. The risk on the trade is limited to the premium paid for the two options.
Conversely, a short strangle simultaneously sells an out-of-the-money put and an out-of-
themoney call. This is a neutral strategy with limited profit potential. The maximum profit is
equivalent to the net premium received for writing the two options, less trading costs.
1) LONG STRANGLE
A long strangle gives you the right to sell the stock at strike price A and the right to buy
the stock at strike price B. The goal is to profit if the stock makes a move in either
direction. However, buying both a call and a put increases the cost of your position,
especially for a volatile stock. So, you’ll need a significant price swing just to break even.
Page | 49
2) SHORT STRANGLE
A short strangle gives you the obligation to buy the stock at strike price A and the
obligation to sell the stock at strike price B if the options are assigned. You are predicting
the stock price will remain somewhere between strike A and strike B, and the options you
sell will expire worthless. By selling two options, you significantly increase the income
you would have achieved from selling a put or a call alone. But that comes at a cost. You
have unlimited risk on the upside and substantial downside risk. To avoid being exposed
to such risk, you may wish to consider using an iron condor instead.
B) STRADDLE: - A straddle is an options strategy that involves buying both a put and a call
option for the underlying security with the same strike price and the same expiration date. A
trader will profit from a straddle when the price of the security rises or falls from the strike
price by an amount more than the total cost of the premium paid.
1) LONG STRADDLE
A long straddle is an options strategy where the trader purchases both a long call and a
long put on the same underlying asset with the same expiration date and strike price. The
strike price is at-the-money or as close to it as possible. Since calls benefit from an upward
move, and puts benefit from a downward move in the underlying security, both of these
components cancel out small moves in either direction, Therefore the goal of a straddle
is to profit from a very strong move, usually triggered by a newsworthy event, in either
direction by the underlying asset.
Page | 50
2) SHORT STRADDLE
A short straddle is an options strategy comprised of selling both a call option and a put
option with the same strike price and expiration date. It is used when the trader believes
the underlying asset will not move significantly higher or lower over the lives of the
options contracts. The maximum profit is the amount of premium collected by writing the
options. The potential loss can be unlimited, so it is typically a strategy for more advanced
traders.
C) COVERED CALL
This strategy is one of the best and most successful strategy that is followed by large companies, also
called Rental Strategies where a person/company is Selling the option in the market or in other
words giving it out on rent to in simple terms
In this case we are the sellers that being the call writers – Characterized with Unlimited loses and
Profit only limited to the premium amount/ token amount that the companies are actually receiving
In case when Call option is put up for Sale i.e., that it is being sold
As a company the prices should always be Less than what the Call option is given and max at the
money situation
In short, the prices must Be extremely less, less, around the range, and high only to extent of the
market owned that being the portfolio but less than the option listed.
Page | 51
D) IRON CONDOR
An iron condor is an options strategy consisting of two puts (one long and one short) and two calls
(one long and one short), and four strike prices, all with the same expiration date. The iron condor
earns the maximum profit when the underlying asset closes between the middle strike prices at
expiration. In other words, the goal is to profit from low volatility in the underlying asset. In short it
consists of 4 Transactions.
The iron condor strategy has limited upside and downside risk because the high and low strike options,
the wings, protect against significant moves in either direction. Because of this limited risk, its profit
potential is also limited.
Buy one out of the money (OTM) put with a strike price below the current price of the underlying
asset. This OTM put option will protect against a significant downside move to the underlying asset.
Sell one OTM or at the money (ATM) put with a strike price closer to the current price of the
underlying asset.
Sell one OTM or ATM call with a strike price above the current price of the underlying asset.
Buy one OTM call with a strike price further above the current price of the underlying asset.
This OTM call option will protect against a substantial upside move.
E) IRON FLY
This option is the combination of three strike prices with four option contracts. It is a limited risk
strategy implemented to earn a limited amount of profit. This is suitable when the future prediction
about the market looks neutral to the trader as well as there is low volatility in the market.
Here we will,
• But a put option at strike price Y

• Sell a put option at strike price X
• Sell a call option at strike price X
• Buy a call option at strike price Z
Page | 52
F) VERTICAL SPREAD
A vertical spread is an options strategy that involves buying and selling a call or put and
simultaneously selling (buying) another call (put) at different strike price, but with the same
expiration. The term vertical comes from the position of the strike prices. Bull vertical spreads
increase in value when the underlying asset rises, while bear vertical spreads profit from decline in
prices. Vertical spread limits both risk and potential for return.
Traders will use a vertical spread when they expect a moderate move in the price of the underlying
asset. Vertical spread are mainly directional plays and can be tailored to reflect the trader’s view,
bearish or bullish, on the underlying asset.
G) CALENDER SPREAD
The calendar spread options strategy is a market neutral strategy for seasoned options traders that
expect different levels of volatility in the underlying stock at varying points in time, with limited risk
in either direction.
It is the process of taking advantage of the due dates or the expiry dates and this type of strategy is
also known as a time or horizontal spread due to the differing maturity dates.
Page | 53
H) NAKED CALL
A naked call position is usually taken when the investor expects the stock price to be trading below
the option strike price at expiration. It is important to note that the maximum possible gain is the
amount of premium collected when the option is sold. Maximum gain is achieved when the option is
held through expiration and the option expires worthless.
I) NAKED PUT
A naked put is used when the investor expects the stock to be trading above the strike price at
expiration. As in the naked call position, the potential for profit is limited to the amount of premium
received.
Page | 54
J) CALL RATIO BACK SPREAD
A call ratio backspread is an option spreading strategy that bullish investors use if they
believe the underlying security or stock will rise by a significant amount while limiting losses.
The strategy combines purchasing a greater number of call options in order to sell a lesser
number of calls at a different strike but same expiration date.
K) PUT RATIO BACK SPREAD

PUT Ratio Back Spread is a bearish strategy used if you are expecting a highly volatile
movement in the stock or index. It involves Selling a PUT at a higher strike and Buying 2
PUTs at a lower Strike. The ratio of the bought PUTs to the sold PUT should be 2: 1. You
can use other ratios as well based on your risk.
Page | 55
7.LIVE PROJECT
INTRODUCTION
This was an additional project given to us by our company mentor and this project mainly
involved designing a product for HDFC Life. Basically, we had to design a product for the
company so that it can be recommended to the company’s higher authorities for future launch
if possible.
This project was one of my favorite part of internship program because while we were
working on it, we actually felt like we are employees.
PRODUCT DESIGN
A product with three different variants was prepared as a part of live project.
We designed a policy keeping in mind the requirements of the consumer as well as that of the
company. While designing we compared so many policies and made sure we studied other
companies’ insurance policies too and got an idea on how the product should be designed.
our main goal was to make sure that the customer has guaranteed benefit and relatively less
risk in buying the product.
So, we finally came up with a new product for a 30 years old client with 3 variants: -
• Product with 7 years pay term
Page | 56
PRODUCT FEATURES
• Interval returns: - this product offers various types of interval incomes. Different
variants contain different interval returns, which makes this as a versatile product.
• Pay term: - as already discussed, this is a product having three different variants of 7
years pay term, 12 years pay term and 20 years pay term. This makes easy for
customers to choose.
• Flexibility: - sum assured on maturity that is returned at the end of the policy term.
• Policy term: - all the three variants have different policy term i.e., 12 years, 20 years
and 30 years respectively.
PRODUCT OFFERINGS
• Assured returns: -the returns that the customer gets are completely guaranteed and
are protected from all kind of market risks.
• Lump-sum return at the end: - apart from regular incomes during the policy term,
the customer also gets some lump-sum amount at the end.
• Different options: - customer gets different variants to choose from i.e., he/she can
select the product according to their need (short term, long term or medium term).
• Death benefit: - starting from the first year of the policy initiation, the customer gets
death benefit which is 10 times the premium paid by him/her.
• Tax benefit: - any contribution you make to this product gets you a tax benefit. It
gives you a guaranteed tax-free return. The maturity amount is also tax free.
Page | 57
The product and the three different variants along with the elements of those variants are
shown below: -
VARIANT: - 1 (7 year pay term)

Premium - ₹1,00,000
Total premium - ₹7,00,000
Pay term – 7 years
Policy term – 12 years
Maturity amount - ₹9,98,680.87
Sum assured – 10,00,000
Page | 58
VARIANT: - 2 (12 YEARS PAY TERM)
Premium - ₹1,00,000.00
Total premium - ₹12,00,000.00
Sum assured – 10,00,000.00
Page | 59
VARIANT: - 3 (20 YEARS PAY TERM)
Premium - ₹1,00,000.00
Total premium - ₹20,00,000.00
Sum assured – 10,00,000.00
Page | 60
8.REFERENCES
• https://www.moneycontrol.com/stocks/marketinfo/marketcap/bse/hotel-resort-
restaurants.html
• https://cleartax.in/s/mutual-fund-types/
• https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-
india
• https://zerodha.com/products/kite
• https://www.hdfclife.com/about-us/hdfc-life-introduction
• https://www.kotaksecurities.com/ksweb/Research/Investment-Knowledge-
Bank/what-is-derivative-
trading#:~:text=How%20to%20trade%20in%20derivatives%20market%3A%2
01%20First,well%20as%20the%20price%20...%20More%20items...%20
• https://www.investopedia.com/terms/d/derivative.asp#:~:text=Derivatives%20ca
n%20be%20used%20to%20hedge%20a%20position%2C,ensure%20balanced
%20exchange%20rates%20for%20goods%20traded%20internationally.
• https://www.investopedia.com/terms/b/backtesting.asp#:~:text=Backtesting%20i
s%20the%20general%20method%20for%20seeing%20how,have%20the%20co
nfidence%20to%20employ%20it%20going%20forward.
• https://trendspider.com/blog/trading-momentum-oscillators-what-they-are-and-
how-to-utilize-them/
Page | 61
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FINAL REPORT

FUNDAMENTAL & TECHNICAL ANALYSIS

SUBMITTED BY: - ARIF HUSSAIN

HDFC Life Insurance Ltd. Co.

FUNDAMENTAL AND TECHNICAL ANALYSIS OF “HOSPITALITY

HDFC LIFE INSURANCE CO. LTD.

A report submitted in partial fulfillment of the requirements of MBA

FACULTY GUIDE COMPANY GUIDE

Dr. MUSARRAT SHAHEEN MR. MOHD YUSUF KHAN

faculty IBS Hyderabad Circle head – Mumbai

HDFC Life Insurance Ltd. Co.

Date of submission: - 26th may 2021

Company Guide: FACULTY GUIDE:

MR. MOHD. YUSUF KHAN DR. MUSARRAT SHAHEEN

Circle Head - Mumbai Faculty, IFCAI Business School

HDFC Life Insurance Co. Ltd HYDERABAD

S.NO CONTENT PAGE NO.

5 BACK TESTING OF OSCILLATORS 41 – 46

1.1 About the Company

1.2 Promoters of HDFC Life

1.4. NEED OF LIFE INSURANCE POLICY

2.1. TYPES OF MUTUAL FUNDS

STEP TO CHOOSE THE MUTUAL FUNDS

A. Risk Profiling Questionnaire:

1. Very Cautious- 100% Debt

How does SIP work

Investment in SIP is very simple. Steps are as follows-

2.3 RISK PROFILE QUESTIONNAIRE AND COCLUSIONS

3. what is more important to you as a customer / investor?

4. which sector would you choose to invest in?

5. which of the following is more important to you as a customer?

9. How long are you willing to invest your money?

INVESTOR PROFILE SCORE DESCRIPTION

RISK PROFILE NO OF PROPORTION

BALANCED 15 50% equity & 50% debt

ASSERTIVE 21 70% equity & 30% debt

AGGRESSIVE 16 100% equity

BEST LARGE CAP MUTUAL FUNDS

BEST SMALL CAP MUTUAL FUNDS

BEST MULTI-CAP MUTUAL FUNDSBEST SECTORAL MUTUAL FUNDS

BEST FUNDS OF FUNDS

BEST DEBT MUTUAL FUNDS

BEST BALANCED MUTUAL FUNDS

Ways of Making Profit in Stock Market

Fig: Candlestick Chart of Live Market

3.2. STRATEGIES AND INDICATORS

Target = 2.7*2+742.95 (Share price) = 748.95

Actual price bought at 489.35 With a profit of Rs 7.95

In this strategy a process was to be followed

This sheet shows trades done by implementing golden cross strategy.

DEATH CROSSOVER STRATEGY

Trades done using ORB strategy.

• To understand the calculation of an index of a particular sector which in my case is (Hospitality

Secondary Research - Secondary market research is a branch of research that is already

4.4.1 CALCULATION OF INDEX

Westlife development 15.5780

Mahindra holiday 133.5348

BASE INDEX VALUE = 1000

INDEX VALUE ON 30/03/21 = 984.9884

4.5.1 STEPS FOR SECTORAL FUNDAMENTAL ANALYSIS: -

Selecting the value pick stocks:

NAV = AUM/ no of units

COMPANIES PRICE EPS P/E RATIO