5.) MACD for Project Report by ANU JINDALvar NREUMQ=NREUMQ||[];NREUMQ.push(["mark","firstbyte",new Date().getTime()]); if (!window.Scribd) var Scribd = new Object(); Scribd.

cdn_path = 'http://s6.scribdassets.com/'; Scribd.rails_env = 'production'; var perfStart = new Date(); Scribd.current_user = {"has_purchased":false,"uploaded_at_least_three":false};Scribd.current_doc = {"word_upload_id":31885443,"access_key":"key-27k8tvy07hb9oac4dwra","show_archive _paywall":true,"thumbnail_url":"http://imgv2-2.scribdassets.com/img/word_documen t/29462031/54x70/d18f8b4caf/1341969442","top_category_id":54,"created_at":"04 / 06 / 2010","is_commentable":true,"show_age_gate":false,"child_category_id":63,"page_c ount":73,"is_downloadable":true,"short_title":"Project Report by ANU JINDAL","can_purchase":false,"secret_password":null,"is_private":false,"is_delet able":true,"is_paid":false,"section_id":"5","description":"PROJECT REPORT ON \u201cTECHNICAL ANALYSIS OF EQUITY\u201d\nSubmitted To MAHARSHI DAYANAND UNIVERSITY, Rohtak For the Partial Fulfillment of the Award of Degree Of\nMASTER OF BUSINESS ADMINISTRATION\n(Session 2008-2010)\n\nUnder the supervision of: Mr. VIPIN MITTAL\nLecturer of MBA Deptt. 24/08 VCE Rohtak MBA (2.4)\n\nSubmitted by:\nAnu jindal\nRoll. no. -\n\nVaish College of Engineering\n\n\fRohtak DECLARATION\nI, MONIKA VERMA, Roll no.24, MBA (4th Sem.) Of VAISH COLLEGE OF ENGINEERING, hereby declare that the project r","aspect_ratio":0.772727272727273,"is_searchable":true,"sharing_data":{"thumbn ail_url":"http://imgv2-2.scribdassets.com/img/word_document/29462031/54x70/d18f8 b4caf/1341969442","page_count":73,"description":"PROJECTg REPORT ON \u201cTECHNICAL ANALYSIS OF EQUITY\u201d\nSubmitted To MAHARSHI DAYANAND UNIVERSITY, Rohtak For the Partial Fulfillment of the Award of Degree Of\nMASTER OF BUSINESS ADMINISTRATION\n(Session 2008-2010)\n\nUnder the supervision of: Mr. VIPIN MITTAL\nLecturer of MBA Deptt. 24/08 VCE Rohtak MBA (2.4)\n\nSubmitted by:\nAnu jindal\nRoll. no. -\n\nVaish College of Engineering\n\n\fRohtak DECLARATION\nI, MONIKA VERMA, Roll no.24, MBA (4th Sem.) Of VAISH COLLEGE OF ENGINEERING, hereby declare that the project r","url":"http://www.scribd.com/doc/29462031/Project-Report-by-ANU-JINDAL","id": 29462031,"author":{"url":"http://www.scribd.com/pkjindle","name":"pkjindle"},"ti tle":"ProjectC Report by ANU JINDAL"},"reads":0,"converting":false,"url":"http://www.scribd.com/doc/29462031/ Project-Report-by-ANU-JINDAL","auto_share":{"scribd":false,"facebook":false,"twi tter":false},"preferred_ext":"pdf","private":false,"id":29462031,"is_owner":fals e,"paid":false,"title":"Project0 Report by ANU JINDAL"};document.fire('scribd:docinfo_ready'); window['$perf'] = new Scribd.Perf(); $perf.registerOnbeforeunload(); window['$rat'] = ratInit( ["http://rs1.scribd.com/","http://rs2.scribd.com/","http://rs3.scribd.com/","htt p://rs4.scribd.com/","http://rs5.scribd.com/","http://rs6.scribd.com/","http://r s7.scribd.com/","http://rs8.scribd.com/"],t {"user_id":73596649,"doc_id":29462031}, false ); I18n.defaultLocale = "en_US"; I18n.locale = "en_US"; if(typeof(Scribd) === 'undefined') Scribd = {}; Scribd.Ads = { enabled: ('https:' !== document.location.protocol ) && true }; //TODO: instead of having enabled come from @disable_ads, set this right here as part of JS logic. if(Scribd.Ads.enabled) { var writeScript = function(src) { document.write('\x3Cscript type="text/javascript" src="'+src+'">\x3C/script>'); }; var googletag = googletag || {}; googletag.cmd = googletag.cmd || []; var loadAds = function() { if(Scribd.Ads.loaded) return; Scribd.Ads.loaded = true; var gads = document.createElement('script'); gads.async = true; gads.type = 'text/javascript'; gads.src = 'http://www.googletagservices.com/tag/js/gpt.js'; var node = document.getElementsByTagName('script')[0]; node.parentNode.insertBefore(gads, node); //detecting if ad block is enabled...

setTimeout(function() { if(typeof(googletag.pubads) === 'undefined') trackEvent('AdBlock', '', '', 1, false); }, 5e3); }; (function() { var observe = null; //this is for mobile where prototype isn't included... if(typeof(Event) === 'undefined' || Event.observe === undefined) { observe = function(target, eventName, callback) { if(typeof(target.addEventListener) !== 'undefined') target.addEventListener(eventName, callback); else target.attachEvent(eventName, callback); }; } else { observe = Event.observe; } observe(document, "scribd:load_ads", loadAds); observe(window, 'load', loadAds); }()); } else { Scribd.Ads.use_house_ads = false; } if (Scribd.Ads.setAdLayouts ) { Scribd.Ads.setAdLayouts(); } if( Scribd.Ads.enabled ) { Scribd.Ads.addAttribute("Category", 63); Scribd.Ads.addAttribute("DocUser", 16708795); Scribd.Ads.addAttribute("Document", 29462031); Scribd.Ads.addAttribute("Extension", "doc"); Scribd.Ads.addAttribute("FBRecent", false); Scribd.Ads.addAttribute("Gender", "m"); Scribd.Ads.addAttribute("IABParent", ["Arts & Entertainment","Technology & Computing","Business","Health & Fitness","Science"]); Scribd.Ads.addAttribute("IAB_A-L", ["Arts & Entertainment","Business","Health & Fitness"]); Scribd.Ads.addAttribute("IAB_M-Z", ["Technology & Computing","Science"]); Scribd.Ads.addAttribute("Language", "ita"); Scribd.Ads.addAttribute("Naughty", ["offensive","on_illegal","ugc","gambling","adult","accidents","health_issues"," alcohol","drugs","tobacco","terrorism","weapons"]);. Scribd.Ads.addAttribute("Owner", 16708795); Scribd.Ads.addAttribute("ProfUser", 16708795); Scribd.Ads.addAttribute("SubDomain", "www"); Scribd.Ads.addAttribute("User", 73596649); Scribd.Ads.addAttribute("UserState", "In"); //adding testing segments Scribd.Ads.addAttribute('UseTest', Math.floor(Math.random() * 10) + ''); // Start Quantcast User Segmentation var quantSegs = []; function qc_results(result) { for (var i = 0; i < result.segments.length; i++) quantSegs.push(result.segments[i].id); Scribd.Ads.addAttribute("QuantSegs", quantSegs); } writeScript("http://pixel.quantserve.com/api/segments.json?a=p-13DPpb-yg8ofc&cal lback=qc_results");A // End Quantcast User Segmentation } // This is the function that handles all the ad logic! Choosing what to display will go here. if(Scribd.Ads.enabled) { Scribd.Ads.gpt_slots = []; Scribd.Ads.gpt_slots_by_name = {}; //(for gpt execute targeting) and finalize ad fetching... googletag.cmd.push(function() { for (var unit_name in Scribd.Ads.adUnits) { var node_id = Scribd.Ads.adUnits[unit_name]; var full_name = '/1024966/' + unit_name; var size = unit_name.match(/.*_(\d+)x(\d+)/) .slice(1) .map(function(f){return parseInt(f);}); var slot = googletag.defineSlot(full_name, size, node_id).addService(googletag.pubads()); Scribd.Ads.gpt_slots.push(slot); Scribd.Ads.gpt_slots_by_name[unit_name] = slot; } //set targeting for (var targetKey in Scribd.Ads.attributes) { var value = Scribd.Ads.attributes[targetKey]; if( value instanceof Array) { value = value.map(function(f) {return f + '';}); } else { value = value + ''; } googletag.pubads().setTargeting(targetKey, value); } // googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); }); } var _gaq = _gaq || []; _gaq.push(['_setAccount', "UA-443684-2"]); _gaq.push(['_setCustomVar', 1, 'logged_in', 'true', 1]); _gaq.push(['_setCustomVar', 2, 'fb_setup_context', 'instant_connect_signup', 1]); _gaq.push(['_setCustomVar', 3, 'domain', document.location.host, 3]); document.observe('dom:loaded', function() { // wait until dom loaded so all A/B test custom vars can be set first var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' ==

document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); _gaq.push(['_trackPageview']); _gaq.push(['_trackPageLoadTime']); }); j kstrp(function(){ new Scribd.UI.CollectionWidgets($("autogen_id_627536171")); }, "Newdoc::Paginated::CollectionWidgets"); jkstrp(function(){ new Scribd.UI.CommentForm("autogen_id_627538498"); }, "Newdoc::CommentForm"); jkstrp(function(){ new Scribd.UI.CommentList("autogen_id_627539885"); }, "Newdoc::Comments"); jkstrp(function(){ new Scribd.UI.DocumentSearch($("autogen_id_627550143")); }, "Newdoc::Search"); jkstrp(function(){ Scribd.UI.setup_section_list("autogen_id_627545698"); }, "Newdoc::SectionList"); jkstrp(function(){ Scribd.current_doc.rating = 0; Scribd.current_doc.rating_url = ["/", "r", "a", "t", "i", "n", "g", "s", "?", "w", "o", "r", "d", "_", "d", "o", "c", "u", "m", "e", "n", "t", "_", "i", "d", "=", "2", "9", "4", "6", "2", "0", "3", "1"].join(''); new Scribd.UI.Sidebar("sidebar"); }, "Newdoc::Sidebar"); jkstrp(function(){ Scribd.UI.setup_newdoc("web"); }, "Newdoc::Show"); div.ff0 span {font-family: ff0, Times New Roman, Times, serif; font-weight: bold; font-style: italic; } div.ff1 span {font-family: ff1, Times New Roman, Times, serif; font-weight: normal; font-style: italic; } div.ff2 span {font-family: ff2, Verdana, Verdana, Geneva, sans-serif; font-weight: bold; font-style: normal; } div.ff3 span {font-family: ff3, Arial, Arial, Helvetica, sans-serif; font-weight: normal; font-style: normal; } div.ff4 span {font-family: ff4, Arial, Arial, Helvetica, sans-serif; font-weight: normal; font-style: normal; } div.ff5 span {font-family: ff5, Times New Roman, Times, serif; font-weight: normal; font-style: normal; } div.ff6 span {font-family: ff6, Arial, Arial, Helvetica, sans-serif; font-weight: normal; font-style: normal; } div.ff7 span {font-family: ff7, Verdana, Verdana, Geneva, sans-serif; font-weight: normal; font-style: normal; } div.ff8 span {font-family: ff8, Arial, Arial, Helvetica, sans-serif; font-weight: normal; font-style: normal; } div.ff9 span {font-family: ff9, Times New Roman, Times, serif; font-weight: bold; font-style: normal; } .ff0, .ff1, .ff2, .ff3, .ff4, .ff5, .ff6, .ff7, .ff8, .ff9 {display: none;} #font_preload_bed span {display: block; visibility: hidden}

Publish

Sreejith Nair View Public Profile My DocumentsMy CollectionsMy Stats

MessagesNotificationsAccount | SettingsHelp Log Out

Search

Explore

Documents Books - FictionBooks - Non-fictionHealth & MedicineBrochures/CatalogsGovernment DocsHow-To Guides/ManualsMagazines/NewspapersRecipes/MenusSchool Work+ all categories RecentFeatured People AuthorsStudentsResearchersPublishersGovernment & NonprofitsBusinessesMusiciansArtists & DesignersTeachers+ all categories

Most FollowedPopular

Scribd.Ads.addUnit('Doc_Top_Leaderboard_ATF_728x90');

if(navigator && navigator.userAgent && !!navigator.userAgent.match(/Google (Web|Instant) Preview/)) { $('document_thumbnail_preview').show(); } var defaultViewWidth = 679.0; var docManager = new DocumentManager("scroll", "web" == "mobile"); // Our global manager for this view page window.docManager = docManager; docManager.setEmbeddedDoc('False'); docManager.fontAggregatorHosts = ["http://fonts1.scribdassets.com", "http://fonts2.scribdassets.com", "http://fonts3.scribdassets.com", "http://fonts4.scribdassets.com"]; docManager.assetPrefix = "5m10kqbhs0izeyr"; docManager.addFont(1, "i", "ff1", "Times New Roman, Times, serif", "normal", "italic"); docManager.addFont(0, "bi", "ff0", "Times New Roman, Times, serif", "bold", "italic"); docManager.addFont(3, "", "ff3", "Arial, Arial, Helvetica, sans-serif", "normal", "normal"); docManager.addFont(2, "b", "ff2", "Verdana, Verdana, Geneva, sans-serif", "bold", "normal"); docManager.addFont(5, "", "ff5", "Times New Roman, Times, serif", "normal", "normal"); docManager.addFont(4, "", "ff4", "Arial, Arial, Helvetica, sans-serif", "normal", "normal"); docManager.addFont(7, "", "ff7", "Verdana, Verdana, Geneva, sans-serif", "normal", "normal"); docManager.addFont(6, "", "ff6", "Arial, Arial, Helvetica, sans-serif", "normal", "normal"); docManager.addFont(9, "b", "ff9", "Times New Roman, Times, serif", "bold", "normal"); docManager.addFont(8, "", "ff8", "Arial, Arial, Helvetica, sans-serif", "normal", "normal"); docManager.displayType = "vector"; docManager.initStyles(); docManager.setPageWidths(679.0); docManager.setImageDomainSubstitution(/http:\/\/html.scribd.com/, ["http://htmlimg1.scribdassets.com", "http://htmlimg2.scribdassets.com", "http://htmlimg3.scribdassets.com", "http://htmlimg4.scribdassets.com"]); docManager.setupTestElements();

PROJECT REPORT ONTECHNICAL ANALYSIS OF EQUITY Submitted ToMAHARSHI DAYANAND UNIVERSITY, Rohtak For the Partial Fulfillment of the Award of Degree Of MASTER OF BUSINESS ADMINISTRATION

(Session 2008-2010) Under the supervision of: Submitted by: Mr. VIPIN MITTAL Anu jindal Lecturer of MBA Deptt. Roll. no. -24/08VCE Rohtak MBA (2.4) Vaish College of Engineering

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 2, 5, 0, 7], "pageNum": 1}; pageParams.containerElem = document.getElementById("outer_page_1"); pageParams.innerPageElem = document.getElementById("page1"); var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(1);

Rohtak DECLARATION I, MONIKA VERMA , Roll no.24, MBA (4 th Sem.) Of VAISH COLLEGE OFENGINEERING, hereby declare that the project report entitled TECHNICALANALYSIS OF EQUITY is an original piece of work and the same has not beensubmitted to any other institute for award of any other degree. The project reportwas presented to the head of project and the feasible suggestions have been dulyincorporated in consultation with the head of project.Signatureof the Candidate

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2, 9, 3, 5], "pageNum": 2}; pageParams.containerElem = document.getElementById("outer_page_2"); pageParams.innerPageElem = document.getElementById("page2"); var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(2);

SUPERVISORS CERTIFICATE This is to certify that the project report entitled TECHNICAL ANALYSIS OFEQUITY submitted to VAISH COLLEGE OF ENGINEERING, Rohtak , for theaward of Master Of Business Administration is a reward of independent researchwork carried out by MONIKA VERMA , a student of 2 year MBA programmed atVaish College of Engg. Under my supervision and guidance. This has not beensubmitted for the award of any other diploma, degree or other similar title. Signature of Supervisor MR. VIPIN MITTALLecturer, Deptt. of Mgmt. StudiesVCE Rohtak

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2, 3, 8], "pageNum": 3}; pageParams.containerElem = document.getElementById("outer_page_3"); pageParams.innerPageElem = document.getElementById("page3"); var page = docManager.addPage(pageParams); })();

Scribd.Ads.addBetweenPageUnit(3);

PREFACE

MASTER OF BUSINESS ADMINISTRATION is a highly specialized course underwhich the students understand the business operations. In the present highlycompetitive world of business one needs to have the knowledge of businessoperations.Management in India is heading towards a better profession as comparedto other professions . The demand for professional managers is increasing day byday. To achieve professional competence, manager ought to be fully occupiedwith theory practical exposure of management . A comprehensiveunderstanding of the Principle will increase their decision making abilityand sharpens their tools for this purpose.Work experience is necessary to be a complete Professional. So everyone whois aspiring to be a manager has to undergo this phase of practical study before onecan consider oneself fully qualified as a potential manager.I did my project on TECHNICAL ANALYSIS OF EQUITY The Present study is about the TECHNICAL ANALYSIS in India. Mainly thefocus is on the technality adopted by investors while doing investment in securities.What is the present scenario prevalent in India was defined in this.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [3, 2, 8], "pageNum": 4}; pageParams.containerElem = document.getElementById("outer_page_4"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/4-391b0963a3.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(4);

ACKNOWLEDGEMENT When a student ventures of investigate any avenue of learning he/sheembarks upon a mission of exploration. The inception of this projectreport draws upon the

contribution of many individuals. First andForemost, I would like to express my heartfelt thanks to Mr. VIPIN MITTALfor taking Keen interest and timely help in spite of his tight workingschedule, who provided me with all her supports in order to make thiseffort possible and effective.I would also like to thank to all who provided me all the necessarysupport and who took interest in providing me all the necessaryinformation that I required for the making of my study successful.I have tried my best to make this project more explanatory andconcise. If there is any discrepancy that would be due to my ignorance forwhich I may be excused and further suggestions will be appreciated.MONIKA VERMAMBA 4 TH SEM.ROLL NO: 24

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2, 3], "pageNum": 5}; pageParams.containerElem = document.getElementById("outer_page_5"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/5-5fa1561e6f.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(5);

TABLE OF CONTENTS S.NO.PARTICULARS PAGE NO. Chapter 1Introduction ObjectiveChapter 2Review of literatureChapter 3Research methodologyChapter 4Data analysis & interpretationsChapter 5Findings & suggestionsChapter 6 Annexure Bibliography

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5, 4], "pageNum": 6}; pageParams.containerElem = document.getElementById("outer_page_6"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/6-cf7db0e27a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(6);

Chapter-1INTRODUCTION

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9], "pageNum": 7}; pageParams.containerElem = document.getElementById("outer_page_7"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/7-29c3d11674.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(7);

WHATS THIS EQUITY ANALYSIS? Professional investor will make more money & less loss than, who let their heart rule. Their head eliminate all emotions for decision making. Be ruthless & calculating, you are out to makemoney. Decision should be based on actual movement of share price measured both in money & percentage term & nothing else. Greed must be avoided patience may be a virtue, but impatiencecan frequently be profitable. In Equity Analysis anticipated growth, calculations are based onconsidered FACTS & not on HOPE. Equity analysis is basically a combination of twoIndependent analyses, namely fundamental analysis & Technical analysis. The subject of Equity analysis, i.e. the attempt to determine future share price movement &its reliability by references to historical data is a vast one, covering many aspect from thecalculating various FINANCIAL RATIOS

, plotting of CHARTS to extremely sophisticatedindicators.A general investor can apply the principles by using the simplest of tools: pocket calculator, pencil, ruler, chart paper & your cautious mind, watchful attention. It should be pointed out that,this equity analysis does not discuss how to buy & sell shares, but does discuss a method whichenables the investor to arrive at buying & selling decision. The financial analysts always needyardsticks to evaluate the efficiency & performances of any business unit at the time of investment. Fundamental analysis is useful in long term investment decision. In Fundamentalanalysis company goodwill, its performances, liquidity, leverage, turnover, profitability &financial health was checked & analysis with the help of ratio analysis for the purpose of longterm successful investment.Technical analysis refers to the study of market generated data like prices & volume todetermine the future direction of prices movements. Technical analysis mainly seeks to predictthe short term price travels.The focus of technical analysis is mainly on the internal market data, i.e. prices & volumedata. It appeals mainly to short term traders. It is the oldest approach to equity investment dating back to the late 19th century.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 8}; pageParams.containerElem = document.getElementById("outer_page_8"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/8-be4868d182.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(8);

Assumptions for the Equity Analysis 1.) Works only in normal share-market conditions with great reliability, it also Works inabnormal share-market conditions, but with low reliability.2.) Equity analysis is purely based on the INVESTMENT PHILOSOPHY, so the investmentobject has vital importance associated to return along with risk.3.) Cash management gets the magnitude role, because the scenario of equity analysis isrevolving around the term money.4.) Portfolio management, risk management was up to the investor s knowledge.5.) Capital market trend is always a friend, whether it is short run or long run.6.) You are buying stock & not companies, so don t be curious or panic to do post-mortem of companies performances.7.) History repeats: investors & speculators react the same way to the same types of eventshomogeneously.8.) Capital market has a typical market psychology along with other issues like; perceptions, thecrowd the individual, tradition s & trust.9.) An individual perceptions about the investment return & associated

risk may differ fromindividual to individual.10.) Although the equity analysis is art as well as sciences so, it also has some exceptions. EQUITY ANALYSIS. ENVIRONMENT & ECONOMICAL ANALYSIS.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 9}; pageParams.containerElem = document.getElementById("outer_page_9"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/9-35047bda95.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(9);

FUNDAMENTAL TECHNICALANALYSIS ANALYSIS Technical analysis :Technical analysis refers to the study of market generated data like prices & volume todetermine the future direction of prices movements. Technical analysis mainly seeks to predict the short term price travels. It is important criteria for selecting the company to invest. It also provides the base for decision-making in investment. Theone of the most frequently used yardstick to check & analyze underlying price progress. For thatmatter a verity of tools was consider. This Technical analysis is helpful to general investor inmany ways. It provides important & vital information regarding the current price position of thecompany.Technical analysis involves the use of various methods for charting, calculating & interpretinggraph & chart to assess the performances & status of the price. It is the tool of financial analysis,which not only studies but also reflecting the numerical & graphical relationship between theimportant financial factors.The focus of technical analysis is mainly on the internal market data, i.e. prices & volume data. Itappeals mainly to short term traders. It is the oldest approach to equity investment dating back tothe late 19th century.It uses charts and computer programs to study the stocks trading volume and price movementsin the hope of identifying a trend. In fact the decision made on the basis of technical analysis isdone only after inferring a trend and judging the future movement of the stock on the basis of thetrend. Technical Analysis assumes that the market is efficient and the price has already taken intoconsideration the other factors related to the company and the industry. It is because of thisassumption that many think technical analysis is a tool, which is effective for short-terminvesting. History of Technical Analysis

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 1, 5], "pageNum": 10}; pageParams.containerElem = document.getElementById("outer_page_10"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/10-5dce3b6e3a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(10);

Technical Analysis as a tool of investment for the average investor thrived in the late nineteenthcentury when Charles Dow, then editor of the Wall Street Journal, proposed the Dow theory. Herecognized that the movement is caused by the action/reaction of the people dealing in stocksrather than the news in itself. Technical analysis is a method of evaluating securities byanalyzing the statistics generated by market activity, such as past prices and volume.Technical analysts do not attempt to measure a security s intrinsic value, but instead use chartsand other tools to identify patterns that can suggest future activity. Just as there are manyinvestment styles on the fundamental side, there are also many different types of technicaltraders. Some rely on chart patterns; others use technical indicators and oscillators, and most usesome combination of the two. In any case, technical analysts exclusive use of historical priceand volume data is what separates them from their fundamental counterparts. Unlikefundamental analysts, technical analysts don t care whether a stock is undervalued the only thingthat matters is a security s past trading data and what information this data can provide aboutwhere the Security might move in the future. Basic premises of technical analysis :1. Market prices are determined by the interaction of supply & demand forces. 2. Supply & demand are influenced by variety of supply & demand affiliated factors bothrational & irrational. 3. These include fundamental factors as well as psychological factors. 4. Barring minor deviations stock prices tend to move in fairly persistent trends. 5. Shifts in demand & supply bring about change in trends.

6. This shift s can be detected with the help of charts of manual & computerized action, becauseof the persistence of trends & patterns analysis of past market data can be used to predict future prices behaviors.

Drawbacks / limitations of technical analysis: 1. Technical analysis does not able to explain the rezones behind the employment or selection of specific tool of Technical analysis.2. The technical analysis failed to signal an uptrend or downtrend in time.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 11}; pageParams.containerElem = document.getElementById("outer_page_11"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/11-b7e6655b4a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(11);

3. The technical analysis must be a self defeating proposition. As more & more people use,employ it the value of such analysis trends to reduce. Why we use TECHNICAL ANALYSIS? 1) Technical analysis provides information on the best entry and exit points for a trade.2) On a chart, the trader can see where momentum is rising, a trend is forming, a price is dippingor other events are developing that show the best entry point and time for the most profitabletrade. With the constant movement of various currencies against each other in the Forex market,most traders will focus on using technical indicators to find and place their trades. Is TECHNICAL ANALYSIS difficult? 1) Technical analysis is not difficult, but it requires studying different types of charts such as thehourly or daily charts, knowing which technical indicators to use and how to use them.2) Computers and the Internet have made this process much easier. Most brokers provide basiccharts and technical indicators for free or at a very low cost.3) One way to avoid getting frustrated by all the lines, colors, and graphics is to focus on usingonly a few indicators that will provide you with the information needed. Try not to clutter your chart with too much information.

Fundamental vs. Technical Analysis Technical analysis and fundamental analysis are the two main schools of thought in the financialmarkets. As we ve mentioned, technical analysis looks at the price movement of a security anduses this data to predict its future price movements. Fundamental analysis, on the other hand,looks at economic factors, known as fundamentals.Fundamental analysis takes a relatively long-term approach to analyzing the market compared totechnical analysis. While technical analysis can be used on a timeframe of weeks, days or evenminutes, fundamental analysis often looks at data over a number of years.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 12}; pageParams.containerElem = document.getElementById("outer_page_12"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/12-0260e9b259.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(12);

The future can be found in the past If prices are based on investor expectations, then knowing what a security should sell for (i.e.,fundamental analysis) becomes less important than knowing what other investors expect it to sellfor. That s not to say that knowing what a security should sell for isn t important--it is. But thereis usually a fairly strong consensus of a stock s future earnings that the average investor cannotdisprove.Technical analysis is the process of analyzing a security s historical prices in an effort todetermine probable future prices. This is done by comparing current price action (i.e., currentexpectations) with comparable historical price action to predict a reasonable outcome. Thedevout technician might define this process as the fact that history repeats itself while otherswould suffice to say that we should learn from the past. Usually the following tools & instruments are used to do the technicalanalysis: Price Fields Technical analysis is based almost entirely on the analysis of price and volume. The fields whichdefine a security s price and volume are explained below. Open - This is the price of the first trade for the period (e.g., the first trade of the day). Whenanalyzing daily data, the Open is especially important as it is the consensus price after allinterested parties were able to "sleep on it."

High - This is the highest price that the security traded during the period. It is the point at whichthere were more sellers than buyers (i.e., there are always sellers willing to sell at higher prices, but the High represents the highest price buyers were willing to pay). Low - This is the lowest price that the security traded during the period. It is the point at whichthere were more buyers than sellers (i.e., there are always buyers willing to buy at lower prices, but the Low represents the lowest price sellers were willing to accept).

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 13}; pageParams.containerElem = document.getElementById("outer_page_13"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/13-da0489409e.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(13);

Close - This is the last price that availability, theClose is the relationship between the Open are considered significant by in candlestick charts. Volume - This is the number of shares (or contracts) that were traded during the period. Therelationship between prices and volume (e.g., increasing prices accompanied with increasingvolume) is important. Open Interest - This is the total number of outstanding contracts (i.e., those that have not beenexercised, closed, or expired) of a future or option. Open interest is often used as an indicator. Bid the security traded during the period. Due to its most often used price for analysis. The (the first price) and the Close (the last price) most technicians. Thisrelationship is emphasized

- This is the price a market maker is willing to pay for a security (i.e., the price you willreceive if you sell). Ask - This is the price a market maker is willing to accept (i.e., the price you will pay to buy thesecurity).

Price Styles Price in a chart can be displayed in four styles:1. Bar Chart.2. Line Chart.3. Candlestick Chart.4. Point and Figure Char

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 14}; pageParams.containerElem = document.getElementById("outer_page_14"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/14-529381fd8a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(14);

1) Bar Charts

The highs and lows of a foreign currency are plotted in a diagram and the points are joined withvertical lines (bars). A small horizontal tick to the left denotes the opening level while a smallhorizontal tick to the right represents the closing price of each interval. 2) Line Chart It gives the detailed information about every aspect. The exchange rates for each time period are plotted in a diagram and the points are joined. Prices on the y-axis, time on the x-axis.The line chart chooses for example the closing price of consecutive time periods, but can alsowork with daily, official fixings.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 15}; pageParams.containerElem = document.getElementById("outer_page_15"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/15-5a33525df4.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(15);

The relatively easy handling of line charts is a great advantage. Line charts do not show pricemovements within a time period. This can be a problem because important information for exchange rate analysis can be lost. This problem was remedied with the development of bar charts that represent a more sophisticated form of line chart. 3) Candlestick Chart A candlestick is black if the closing price is lower than the opening price. A candlestick is whiteif the closing price is higher than the opening price.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 16}; pageParams.containerElem = document.getElementById("outer_page_16"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/16-da6631d3d5.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(16);

In the 1600s, the Japanese developed a method of technical analysis to analyze the price of ricecontracts. This technique is called candlestick charting. Steven Nison is credited with popularizing candlestick charting and has become recognized as the leading expert on their interpretation.Candlestick charts display the open, high, low, and closing prices in a format similar to amodern-day bar chart but in a manner that extenuates the relationship between the opening andclosing prices. Candlestick charts are simply a new way of looking at prices, they don t involveany calculations. Because candlesticks display the relationship between the open, high, low, andclosing prices, they cannot be displayed on securities that only have closing prices, nor were theyintended to be displayed on securities that lack opening prices.The interpretation of candlestick charts is based primarily on patterns. The most popular patternsare explained below.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 17}; pageParams.containerElem = document.getElementById("outer_page_17"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/17-47250fc249.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(17);

(A)Bullish Patterns 1) Long white (empty) line. This is a bullish line. It occurs when prices open near the lowand close significantly higher near the period s high. 2) Hammer. This is a bullish line if it occurs after a significant downtrend. If the line occursafter a significant up-trend, it is called a Hanging Man. A Hammer is identified by a small real body (i.e., a small range between the open and closing prices) and a long lower shadow (i.e., thelow is significantly lower than the open, high, and lose). The body can be empty or filled-in.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 2, 5], "pageNum": 18}; pageParams.containerElem = document.getElementById("outer_page_18"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/18-f8e0e55844.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(18);

3) Piercing line. This is a bullish pattern and the opposite of a dark cloud cover. The first line isa long black line and the second line is a long white line. The second line opens lower than thefirst line s low, but it closes more than halfway above the first line s real body. 4) Bullish engulfing lines. This pattern is strongly bullish if it occurs after a significantdowntrend (i.e., it acts as a reversal pattern). It occurs when a small bearish (filled-in) line isengulfed by a large bullish (empty) line. 5) Morning star. This is a bullish pattern signifying a potential bottom. The "star" indicates a possible reversal and the bullish (empty) line confirms this. The star can be empty or filled-in.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 19}; pageParams.containerElem = document.getElementById("outer_page_19"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/19-4ec184574f.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(19);

6) Bullish doji star. A "star" indicates a reversal and a doji indicates indecision. Thus, this pattern usually indicates a reversal following an indecisive period. You should wait for aconfirmation (e.g., as in the morning star, above) before trading a doji star. The first line can beempty or filled in. (B)Bearish Patterns 1) Long black (filled-in) line. This is a bearish line. It occurs when prices open near the highand close significantly lower near the period s low. 2) Hanging Man. These lines are bearish if they occur after a significant uptrend. If this patternoccurs after a significant downtrend, it is called a Hammer. They are identified by small real bodies (i.e., a small range between the open and

closing prices) and a long lower shadow (i.e.,the low was significantly lower than the open, high, and close). The bodies can be empty or filled-in.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 20}; pageParams.containerElem = document.getElementById("outer_page_20"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/20-e2b2fd55d5.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(20);

2) Dark cloud cover. This is a bearish pattern. The pattern is more significant if the secondline s body is below the center of the previous line s body (as illustrated). 4) Bearish engulfing lines. This pattern is strongly bearish if it occurs after a significant uptrend(i.e., it acts as a reversal pattern). It occurs when a small bullish (empty) line is engulfed by alarge bearish (filledin) line.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2, 9, 5], "pageNum": 21}; pageParams.containerElem = document.getElementById("outer_page_21"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/21-be63faaec0.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(21);

5) Evening star. This is a bearish pattern signifying a potential top. The "star" indicates a possible reversal and the bearish (filled-in) line confirms this. The star can be empty or filled in. 5) Doji star. A star indicates a reversal and a doji indicates indecision. Thus, this pattern usuallyindicates a reversal following an indecisive period. You should wait for a confirmation (e.g., asin the evening star illustration) before trading a doji star. 6) Shooting star. This pattern suggests a minor reversal when it appears after a rally. The star s body must appear near the low price and the line should have a long upper shadow.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 22}; pageParams.containerElem = document.getElementById("outer_page_22"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/22-655ac991f9.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(22);

(C) Reversal Patterns 1) Long-legged doji. This line often signifies a turning point. It occurs when the open and closeare the same, and the range between the high and low is relatively large. 3) Dragon-fly doji. This line also signifies a turning point. It occurs when the open andclose are the same, and the low is significantly lower than the open, high, and closing prices. 3) Gravestone doji. This line also signifies a turning point. It occurs when the open, close, andlow

are the same, and the high is significantly higher than the open, low, and closing prices.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5, 2], "pageNum": 23}; pageParams.containerElem = document.getElementById("outer_page_23"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/23-84c395b50e.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(23);

4) Star. Stars indicate reversals. A star is a line with a small real body that occurs after a linewith a much larger real body, where the real bodies do not overlap. The shadows may overlap. 5) Doji star. A star indicates a reversal and a doji indicates indecision. Thus, this pattern usuallyindicates a reversal following an indecisive period. You should wait for a confirmation (e.g., asin the evening star illustration) before trading a doji star.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 24}; pageParams.containerElem = document.getElementById("outer_page_24"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/24-30d7ad9c3e.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(24);

(C)Neutral Patterns

1) Spinning tops. These are neutral lines. They occur when the distance between the high andlow, and the distance between the open and close, are relatively small. 2) Doji. This line implies indecision. The security opened and closed at the same price. Theselines can appear in several different patterns. Double doji lines (two adjacent doji lines) implythat a forceful move will follow a breakout from the current indecision. 3) Harami :This pattern indicates a decrease in momentum. It occurs when a line with a small body falls within the area of a larger body. In this example, a bullish (empty) line with a long body is followed by a weak bearish (filledin) line. This implies a decrease in the bullishmomentum.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 25}; pageParams.containerElem = document.getElementById("outer_page_25"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/25-bccfdef458.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(25);

4) Harami cross. This pattern also indicates a decrease in momentum. The pattern is similar to aharami, except the second line is a doji (signifying indecision).

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 26}; pageParams.containerElem = document.getElementById("outer_page_26"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/26-e69ef42a9b.jsonp"; var page = docManager.addPage(pageParams); })();

Scribd.Ads.addBetweenPageUnit(26);

Example: 4) Point And Figure Charts The point and figure chart is not well known or used by the average investor but it has had a longhistory of use dating back to the first technical traders. This type of chart reflects pricemovements and is not as concerned about time and volume in the formulation of the points. The point and figure chart removes the noise, or insignificant price movements, in the stock, whichcan distort traders views of the price trends. These types of charts also try to neutralize theskewing effect that time has on chart analysis.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [0, 9, 5], "pageNum": 27}; pageParams.containerElem = document.getElementById("outer_page_27"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/27-ff65911288.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(27);

When first looking at a point and figure chart, you will notice a series of Xs and Os. The Xsrepresent upward price trends and the Os represent downward price trends. There are alsonumbers and letters in the chart; these represent months, and give investors an idea of the date.Each box on the chart represents the price scale, which adjusts depending on the price of thestock: the higher the stock s price the more each box represents. On most charts where the priceis between $20 and $100, a box represents $1, or 1 point for the stock. The other critical point of a point and figure chart is the reversal criteria. This is usually set at three but it can also be setaccording to the chartist s discretion. The reversal criteria set how much the price has to moveaway from the high or low in the price trend to create a new trend or, in other words, how muchthe price has to move in order for a column of Xs to become a column of Os, or vice versa.When the price trend has moved from one trend to another, it shifts to the right, signalling a trendchange.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 28}; pageParams.containerElem = document.getElementById("outer_page_28"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/28-1ab81c4a77.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(28);

TRENDS IN TECHNICAL ANALYSIS The Use of Trends One of the most important concepts in technical analysis is that of trend. The meaning in financeisn t all that different from the general definition of the term - a trend is really nothing more thanthe general direction in which a security or market is headed. Take a look at the chart below:

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 29}; pageParams.containerElem = document.getElementById("outer_page_29"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/29-77544b6483.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(29);

Isnt it hard to see that the trend is up. However, it s not always this easy to see a trend:There are lots of ups and downs in this chart, but there isn t a clear indication of which directionthis security is headed. A More Formal Definition Unfortunately, trends are not always easy to see. In other words, defining a trend goes well beyond the obvious. In any given chart, you will probably notice that prices do not tend to movein a straight line in any direction, but rather in a series of highs and lows. In technicalanalysis, it is the movement of the

highs and lows that constitutes a trend. For example, anuptrend is classified as a series of higher highs and higher lows, while a downtrend is one of lower lows and lower highs.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 30}; pageParams.containerElem = document.getElementById("outer_page_30"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/30-4ece6350ed.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(30);

It is an example of an uptrend. Point 2 in the chart is the first high, which is determined after the price falls from this point. Point 3 is the low that is established as the price falls from the high.For this to remain an uptrend each successive low must not fall below the previous lowest pointor the trend is deemed a reversal. Types of Trend There are three types of trend:1. Uptrend2. Downtrend3. Sideways/Horizontal TrendsAs the names imply, when each successive peak and trough is higher, it s referred to as anupward trend. If the peaks and troughs are getting lower it s a downtrend. When there is littlemovement up or down in the peaks and troughs, it s a sideways or horizontal trend. If you wantto get really technical, you might even say that a sideways trend is actually not a trend on itsown, but a lack of a well-defined trend in either direction. In any case, the market can really onlytrend in these three ways: up, down or nowhere. Trend Lengths Along with these three trend directions, there are three trend classifications. A trend of anydirection can be classified as a long-term trend, intermediate trend or a short-term trend. In termsof the stock market, a major trend is generally categorized as one lasting longer than a year. An

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 31}; pageParams.containerElem = document.getElementById("outer_page_31"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/31-ecd47c80b3.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(31);

intermediate trend is considered to last between one and three months and a near-term trend isanything less than a month.A long-term trend is composed of several intermediate trends, which often move against thedirection of the major trend. If the major trend is upward and there is a downward correction in price movement followed by a continuation of the uptrend, the correction is considered to be anintermediate trend. The short-term trends are components of both major and intermediate trends.When analyzing trends, it is important that the chart is constructed to bestreflect the type of trend being analyzed. To help identify long-term trends, weekly charts or daily charts spanning a five-year period are used by chartists to get a better idea of the long-term trend. Daily data charts are best used when analyzing both intermediate and short-term trends. It is also important toremember that the longer the trend, the more important it is; for example, a one-month trend isnot as significant as a five-year trend.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 32}; pageParams.containerElem = document.getElementById("outer_page_32"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/32-04e22b94ac.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(32);

Trend Lines A trend line is a simple charting technique that adds a line to a chart represent the trend in themarket or a stock. Drawing a trend line is as as drawing a straight line that follows ageneral trend. These lines are clearly show the trend and are also used in theidentification of trend reversals.An upward trend line is drawn at the lows of an upward trend. to simple used to This

line represents the supportthe stock has every time it moves from a high to a low. Notice how the price is propped up bythis support. This type of trend line helps traders to anticipate the point at which a stock s pricewill begin moving upwards again. Similarly, a downward trend line is drawn at the highs of thedownward trend. This line represents the resistance level that a stock faces every time the pricemoves from a low to a high. Channels A channel, or channel lines, is the addition of two parallel trend lines that act as strong areas of support and resistance. The upper trend line connects a series of highs, while the lower trend lineconnects a series of lows. A channel can slope upward, downward or sideways but, regardless of the direction, the interpretation remains the same. Traders will expect a given security to trade

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 33}; pageParams.containerElem = document.getElementById("outer_page_33"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/33-3a2b6f4b76.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(33);

between the two levels of support and resistance until it breaks beyond one of the levels, inwhich case traders can expect a sharp move in the direction of the break.Along with clearly displaying the trend, channels are mainly used to illustrate important areas of support and resistance.A descending channel on a stock chart; the upper trend line has been placed on the highs and thelower trend line is on the lows. The price has bounced off of these lines several times, and hasremained range bound for several months. As long as the price does not fall below the lower lineor move beyond the upper resistance, the range-bound downtrend is expected to continue.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 34}; pageParams.containerElem =

document.getElementById("outer_page_34"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/34-631e93dac2.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(34);

The Importance of Trend It is important to be able to understand and identify trends so that you can trade with rather thanagainst them. Two important sayings in technical analysis are "the trend is your friend" and"don t buck the trend," illustrating how important trend analysis is for technical traders. Importance of volume:What Is Volume? Volume is simply the number of shares or contracts that trade over a given period of time,usually a day. The higher the volume, the more active the security. To determine the movementof the volume (up or down), chartists look at the volume bars that can usually be found at the bottom of any chart. Volume bars illustrate how many shares have traded per period and showtrends in the same way that prices do. Why Volume Is Important? Volume is an important aspect of technical analysis because it is used to confirm trends and chart patterns. Any price movement up or down with relatively high volume is seen as a stronger,more relevant move than a similar move with weak volume. Say, for example, that a stock jumps5% in one trading day after being in a long downtrend. Is this a sign of a trend reversal? This iswhere volume helps traders. If volume is high during the day relative to the average daily

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 35}; pageParams.containerElem = document.getElementById("outer_page_35"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/35-dbb9dd22f4.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(35);

volume, it is a sign that the reversal is probably for real. On the other hand, if the volume is below average, there may not be enough conviction to support a true trend reversal. Volumeshould move with the trend. If prices are moving in an upward trend, volume should increase(and vice versa). If the previous relationship between volume and price movements starts todeteriorate, it is usually a sign of weakness in the trend. For example, if the stock is in an uptrend but the up trading days are marked with lower volume, it is a sign that the trend is starting to loseits legs and may soon end. When volume tells a different story, it is a case of divergence, whichrefers to a contradiction between two different indicators. The simplest example of divergence isa clear upward trend on declining volume. Volume and Chart Patterns The other use of volume is to confirm chart patterns. Patterns such as head and shoulders,triangles, flags and other price patterns can be confirmed with volume, a process which we lldescribe in more detail later in this tutorial. In most chart patterns, there are several pivotal pointsthat are vital to what the chart is able to convey to chartists. Basically, if the volume is not thereto confirm the pivotal moments of a chart pattern, the quality of the signal formed by the patternis weakened. Volume Precedes Price Another important idea in technical analysis is that price is preceded by volume. Volume isclosely monitored by technicians and chartists to form ideas on upcoming trend reversals. If volume is starting to decrease in an uptrend, it is usually a sign that the upward run is about toend. Now that we have a better understanding of some of the important factors of technicalanalysis, we can move on to charts, which help to identify trading opportunities in pricesmovements.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 36}; pageParams.containerElem = document.getElementById("outer_page_36"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/36-c6ae5df9db.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(36);

CHART PATTERNS:A chart pattern is a distinct formation on a stock chart that creates a trading signal, or a sign of future price movements. Chartists use these patterns to identify current trends and trend reversalsand to trigger buy and sell signals.In the first section of this tutorial, we talked about the three assumptions of technical analysis,the third of which was that in technical

analysis, history repeats itself. The theory behind chart patters is based on this assumption. The idea is that certain patterns are seen many times, and thatthese patterns signal a certain high probability move in a stock. Based on the historic trend of achart pattern setting up a certain price movement, chartists look for these Patterns to identifytrading opportunities. While there are general ideas and components to every chart pattern, thereis no chart pattern that will tell you with 100% certainty where a security is headed. This createssome leeway and debate as to what a good pattern looks like, and is a major reason why chartingis often seen as more of an art than a science. There are two types of patterns within this area of technical analysis, reversal and continuation. A reversal pattern signals that a prior trend willreverse upon completion of the pattern. A continuation pattern, on the other hand, signals that atrend will continue once the pattern is complete. These patterns can be found over charts of anytimeframe. In this section, we will review some of the more popular chart patterns. 1. Head and Shoulders This is one of the most popular and reliable chart patterns in technical analysis. Head andshoulders is a reversal chart pattern that when formed, signals that the security is likely to moveagainst the previous trend. As you can see , there are two versions of the head and shoulderschart pattern. Head and shoulders top (shown on the left) is a chart pattern that is formed at thehigh of an upward movement and signals that the upward trend is about to end. Head andshoulders bottom, also known as inverse head and shoulders (shown on the right) is the lesser known of the two, but is used to signal a reversal in a downtrend.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 37}; pageParams.containerElem = document.getElementById("outer_page_37"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/37-631867d515.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(37);

Head and shoulders top is shown on the left. Head and shoulders bottom, or inverse headand shoulders, is on the right. Both of these head and shoulders patterns are similar in that there are four main parts: twoshoulders, a head and a neckline. Also, each individual head and shoulder is comprised of a highand a low. For example, in the head and shoulders top image shown on the left side, the leftshoulder is made up of a high followed by a low. In this pattern, the neckline is a level of supportor resistance. Remember that an upward trend is a period of successive rising highs and risinglows. The head and shoulders chart pattern, therefore, illustrates a

weakening in a trend byshowing the deterioration in the successive movements of the highs and lows. 2. Cup And Handle A cup and handle chart is a bullish continuation pattern in which the upward trend has paused but will continue in an upward direction once the pattern is confirmed.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 38}; pageParams.containerElem = document.getElementById("outer_page_38"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/38-861bb71a73.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(38);

The price pattern forms what looks like a cup, which is preceded by an upward trend. The handlefollows the cup formation and is formed by a generally downward/sideways movement in thesecurity s price. Once the price movement pushes above the resistance lines formed in the handle,the upward trend can continue. 3. Double Tops and Bottoms This chart pattern is another well-known pattern that signals a trend reversal it is considered to be one of the most reliable and is commonly used. These patterns are formed after a sustainedtrend and signal to chartists that the trend is about to reverse. The pattern is created when a pricemovement tests support or resistance levels twice and is unable to break through. This pattern isoften used to signal intermediate and long-term trend reversals.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 39}; pageParams.containerElem = document.getElementById("outer_page_39"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/39-e0dc856d6d.jsonp"; var

page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(39);

A double top pattern is shown on the left, while a double bottom pattern is shown on theright. In the case of the double top pattern, the price movement has twice tried to move above acertain price level. After two unsuccessful attempts at pushing the price higher, the trend reversesand the price heads lower. In the case of a double bottom (shown on the right), the pricemovement has tried to go lower twice, but has found support each time.After the second bounce off of the support, the security enters a new trend and heads upward. 4. Triangles Triangles are some of the most well-known chart patterns used in technical analysis. The threetypes of triangles, which vary in construct and implication, are the symmetrical triangle,ascending and descending triangle. These chart patterns are considered to last anywhere from acouple of weeks to several months.The symmetrical is a pattern in which two trend lines converge toward each other. This pattern isneutral in that a breakout to the upside or downside is a confirmation of a trend in that direction.In an ascending triangle, the upper trend line is flat, while the bottom trend line is upwardsloping. This is generally thought of as a bullish pattern in which chartists look for an upside breakout. In a descending triangle, the lower trend line is flat and the upper trend line isdescending. This is generally seen as a bearish pattern where chartists look for a downside breakout.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 40}; pageParams.containerElem = document.getElementById("outer_page_40"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/40-fcca10e277.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(40);

5. Flag and Pennants These two short-term chart patterns are continuation patterns that are formed when there is asharp price movement followed by a generally sideways price movement. This pattern is thencompleted upon another sharp price movement in the same direction as the move that started thetrend. The patterns are generally

thought to last from one to three weeks.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 41}; pageParams.containerElem = document.getElementById("outer_page_41"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/41-59cd7a9d11.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(41);

There is little difference between a pennant and a flag. The main difference between these pricemovements can be seen in the middle section of the chart pattern. In a pennant, the middlesection is characterized by converging trend lines, much like what is seen in a symmetricaltriangle. The middle section on the flag pattern, on the other hand, shows a channel pattern, withno convergence between the trend lines. In both cases, the trend is expected to continue when the price moves above the upper trend line. 6. Wedge The wedge chart pattern can be either a continuation or reversal pattern. It is similar to asymmetrical triangle except that the wedge pattern slants in an upward or downward direction,while the symmetrical triangle generally shows a sideways movement. The other difference isthat wedges tend to form over longer periods, usually between three and six months.The fact that wedges are classified as both continuation and reversal patterns can make readingsignals confusing. However, at the most basic level, a falling wedge is bullish and a rising wedgeis bearish. We have a falling wedge in which two trend lines are converging in a downward

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 42}; pageParams.containerElem = document.getElementById("outer_page_42"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/42-a7958ccd05.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(42);

direction. If the price was to rise above the upper trend line, it would form a continuation pattern,while a move below the lower trend line would signal a reversal pattern. 7. Triple Tops and Bottoms Triple tops and triple bottoms are another type of reversal chart pattern in chart analysis. Theseare not as prevalent in charts as head and shoulders and double tops and bottoms, but they act ina similar fashion. These two chart patterns are formed when the price movement tests a level of support or resistance three times and is unable to break through; this signals a reversal of the prior trend.Confusion can form with triple tops and bottoms during the formation of the pattern because theycan look similar to other chart patterns. After the first two support/resistance tests are formed inthe price movement, the pattern will look like a double top or bottom, which could lead a chartistto enter a reversal position too soon. 8.Rounding Bottom A rounding bottom, also referred to as a saucer bottom, is a long-term reversal pattern thatsignals a shift from a downward trend to an upward trend. This pattern is traditionally thought tolast anywhere from several Months to several years.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 43}; pageParams.containerElem = document.getElementById("outer_page_43"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/43-a2515e1637.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(43);

A rounding bottom chart pattern looks similar to a cup and handle pattern but without the handle.The long-term nature of this pattern and the lack of a confirmation trigger, such as the handle inthe cup and handle, make it a difficult patter. SUPPORT AND RESISTANCE:Once you understand the concept of a trend, the next major concept is that of support andresistance. You ll often hear technical analysts talk about the

ongoing battle between the bullsand the bears, or the struggle between buyers (demand) and sellers (supply). This is revealed bythe prices a security seldom moves above (resistance) or below (support).

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 44}; pageParams.containerElem = document.getElementById("outer_page_44"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/44-995a0cdd93.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(44);

Support is the price level through which a stock or market seldom falls (illustrated by the bluearrows). Resistance, on the other hand, is the price level that a stock or market seldom surpasses(illustrated by the Red Arrows).These support and resistance levels are seen as important in terms of market psychology andsupply and demand. Support and resistance levels are the levels at which a lot of traders arewilling to buy the stock (in the case of a support) or sell it (in the case of resistance). When thesetrend lines are broken, the supply and demand and the psychology behind the stock s movementsis thought to have shifted, in which case new levels of support and resistance likely beestablished. Round Numbers and Support and Resistance :-One type of universal support and resistance that tends to be seen across a large number of securities is round numbers. Round numbers like 10, 20, 35, 50, 100 and 1,000 tend be importantin support and resistance levels because they often represent the major psychological turning points at which many traders will make buy or sell decisions.Buyers will often purchase large amounts of stock once the price starts to fall toward a major round number such as $50, which makes it more difficult for shares to fall below the level. Onthe other hand, sellers start to sell off a stock as it moves toward a round number peak, making itdifficult to move past this upper level as well. It is the increased buying and selling pressure at

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts":

[5, 9], "pageNum": 45}; pageParams.containerElem = document.getElementById("outer_page_45"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/45-4a3df14974.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(45);

these levels that makes them important points of support and resistance and, in many cases,major psychological points as well. Role Reversal Once a resistance or support level is broken, its role is reversed. If the price falls below a supportlevel, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supplyand demand has shifted, causing the breached level to reverse its role. For a true reversal tooccur, however, it is important that the price make a strong move through either the support or resistance. For example, as you can see, the dotted line is shown as a level of resistance that has preventedthe price from heading higher on two previous occasions (Points 1 and 2). However, once theresistance is broken, it becomes a level of support (shown by Points 3 and 4) by propping up the price and preventing it from heading lower again.Many traders who begin using technical analysis find this concept hard to believe and don trealize that this phenomenon occurs rather frequently, even with some of the most well-knowncompanies. For example, this phenomenon is evident on the Wal-Mart Stores Inc. (WMT) chart between 2003 and 2006. Notice how the role of the $51 level changes from a strong level of support to a level of resistance.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 46}; pageParams.containerElem = document.getElementById("outer_page_46"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/46-502baaf194.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(46);

In almost every case, a stock will have both a level of support and a level of resistance and willtrade in this range as it bounces between these levels. The Importance of Support and Resistance: Support and resistance analysis is an important part of trends because it can be used to maketrading decisions and identify when a trend is reversing. Support and resistance levels both testand confirm trends and need to be monitored by anyone who uses technical analysis. As long asthe price of the share remains between these levels of support and resistance, the trend is likely tocontinue. It is important to note, however, that a break beyond a level of support or resistancedoes not always have to be a reversal.For example, if prices moved above the resistance levels of an upward trending channel, thetrend have accelerated, not reversed. This means that the price appreciation is expected to befaster than it was in the channel. Being aware of these important support and resistance pointsshould affect the way that you trade a stock. Traders should avoid placing orders at these major points, as the area around them is usually marked by a lot of volatility. If you feel confidentabout making a trade near a support or resistance level, it is important that you follow this simplerule: do not place orders directly at the support or resistance level. This is because in many cases,the price never actually reaches the whole number, but flirts with it instead. So if you re bullish

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 47}; pageParams.containerElem = document.getElementById("outer_page_47"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/47-591e970b33.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(47);

on a stock that is moving toward an trade at the supportlevel. Instead, a few points. On the other hand, if up your trade price at or below the Summary of charts MOVING AVERAGES:-

Most chart patterns show a lot of variation in price movement. This can make it difficult for traders to get an idea of a security s overall trend. One simple

important support level, do no place the place it above the support level but within youare placing stops or short selling, set level of support.

method traders use to combat thisis to apply moving averages. A moving average is the average price of a security over a setamount of time. By plotting a security s average price, the price movement is smoothed out.Once the day-to-day fluctuations are removed, traders are better able to identify the true trendand increase the probability that it will work in their favor. Types Of Moving Averages :-There are a number of different types of moving averages that vary in the way they arecalculated, but how each average is interpreted remains the same. The calculations only differ inregards to the weighting that they place on the price data, shifting from equal weighting of each

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 48}; pageParams.containerElem = document.getElementById("outer_page_48"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/48-d0caadd579.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(48);

price point to more weight being placed on recent data. The three most common types of movingaverages are simple, linear and exponential.1. Simple Moving Average (SMA) This is the most common method used to calculate the moving average of prices. It simply takesthe sum of all of the past closing prices over the time period and divides the result by the number of prices used in the calculation. For example, in a 10-day moving average, the last 10 closing prices are added together and then divided by 10. As you can see in Figure 1 a trader is able tomake the average less responsive to changing prices by increasing the number of periods used inthe calculation. Increasing the number of time periods in the calculation is one of the best waysto gauge the strength of the long-term trend and the likelihood that it will reverse.Many individuals argue that the usefulness of this type of average is limited because each pointin the data series has the same impact on the result regardless of where it occurs in the sequence.The critics argue that the most recent data is more important and, therefore, it should also have ahigher weighting. This type of criticism has been one of the main factors leading to the inventionof other forms of moving averages.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 49}; pageParams.containerElem = document.getElementById("outer_page_49"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/49-ca6b7e499d.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(49);

2. Linear Weighted Average This moving average indicator is the least common out of the three and is used to address the problem of the equal weighting. The linear weighted moving average is calculated by taking thesum of all the closing prices over a certain time period and multiplying them by the position of the data point and then dividing by the sum of the number of periods. For example, in a five-daylinear weighted average, today s closing price is multiplied by five; yesterday s by four and so onuntil the first day in theperiod range is reached. These numbers are then added together anddivided by the sum of the multipliers. 3. Exponential Moving Average (EMA) This moving average calculation uses a smoothing factor to place a higher weight on recent data points and is regarded as much more efficient than the linear weighted average. Having anunderstanding of the calculation is not generally required for most traders because most charting packages do the calculation for you. The most important thing to remember about theexponential moving average is that it is more responsive to new information relative to thesimple moving average. This responsiveness is one of the key factors of why this is the movingaverage of choice among many technical traders. A 15-period EMA raises and falls faster than a15-period SMA. This slight difference doesnt seem like much, but it is an important factor to beaware of since it can affect returns.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 50}; pageParams.containerElem = document.getElementById("outer_page_50"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/50-7084a68dbe.jsonp"; var page = docManager.addPage(pageParams); })();

Scribd.Ads.addBetweenPageUnit(50);

Major Uses of Moving Averages Moving averages are used to identify current trends and trend reversals as well as to set upsupport and resistance levels. Moving averages can be used to quickly identify whether asecurity is moving in an uptrend or a downtrend depending on the direction of the movingaverage. When a moving average is heading upward and the price is above it, the security is in anuptrend. Conversely, a downward sloping moving average with the price below can be used tosignal a downtrend.Another method of determining momentum is to look at the order of a pair of moving averages.When a short-term average is above a longer-term average, the trend is up. On the other hand, along-term average above a shorter-term average signals a downward movement in the trend.Moving average trend reversals are formed in two main ways: when the price moves through amoving average and when it moves through moving average crossovers. The first common signalis when the price moves through an important moving average. For example, when the price of asecurity that was in an uptrend falls below a 50-period moving average, it is a sign that theuptrend may be reversing.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 51}; pageParams.containerElem = document.getElementById("outer_page_51"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/51-d201531bf0.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(51);

The other signal of a trend reversal is when one moving average crosses through another. For example, if the 15-day moving average crosses above the 50-day moving average, it is a positivesign that the price will start to increase.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 52}; pageParams.containerElem = document.getElementById("outer_page_52"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/52-9a1734c172.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(52);

If the periods used in the calculation are relatively short, for example 15 and 35, this could signala short-term trend reversal. On the other hand, when two averages with relatively long timeframes cross over (50 and 200, for example), this is used to suggest a long-term shift in trend.Another major way moving averages are used is to identify support and resistance levels. It is notuncommon to see a stock that has been falling stop its decline and reverse direction once it hitsthe support of a major moving average. A move through a major moving average is often used asa signal by technical traders that the trend is reversing. For example, if the price breaks throughthe 200-day moving average in a downward direction, it is a signal that the uptrend is reversing.Moving averages are a powerful tool for analyzing the trend in a security.They provide useful support and resistance points and are very easy to use. The mostcommon time frames that are used when creating moving averages are the 200-day, 100-day, 50-day, 20-day and 10-day. The 200-day average is thought to be a good measure of a trading year,a 100-day average of a half a year, a 50-day average of a quarter of a year, a 20-day average of amonth And 10 day average of two weeks.Moving averages help technical traders smooth out some of the noise that is found in day-to-day price movements, giving traders a clearer view of the price trend. So far we have been focusedon price movement, through charts and averages. In the next section, we ll look at some other techniques used to confirm price movement and patterns.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 53}; pageParams.containerElem = document.getElementById("outer_page_53"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/53-504b127620.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(53);

Objective of the study:

To know the fluctuations & trend of the market.

To know the price movement and pattern through technical analysis.

To give a clear view of the trend to the investors.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2, 6, 5], "pageNum": 54}; pageParams.containerElem = document.getElementById("outer_page_54"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/54-f6fd4d860a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(54);

Chapter-2Review of Literature Review of Literature

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [2], "pageNum": 55}; pageParams.containerElem = document.getElementById("outer_page_55"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/55-a8da664b07.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(55);

The principles of technical analysis derive from the observation of financial marketsover hundreds of years. The oldest known hints of technical analysis appear inJoseph de la Vega saccounts of the Dutch markets in the 17th century. In Asia, the oldest example of technicalanalysis is thought to be a method developed by

Homma Munehisa during early 18th centurywhich evolved into the use of candlestick techniques, and is today a main charting tool.Dow Theoryis based on the collected writings of Dow Jonesco-founder and EditorCharlesDow , and inspired the use and development of modern technical analysis from the end of the19th century. Other pioneers of analysis techniques includeRalph Nelson ElliottandWilliam Delbert Gannwho developed their respective techniques in the early 20th century.Many more technical tools and theories have been developed and enhanced in recent decades,with an increasing emphasis oncomputer -assisted techniques.Technical analysis is widely used among traders and financial professionals, and is very oftenused by active day traders, market makers, and pit traders. In the 1960s and 1970s it was widelydismissed by academics. In a recent review, Irwin and Park reported that 56 of 95 modern studiesfound it produces positive results, but noted that many of the positive results were rendereddubious by issues such asdata snoopingso that the evidence in support of technical analysis wasinconclusive; it is still considered by many academics to be pseudoscience.Academics such as Eugene Fama say the evidence for technical analysis is sparse and is inconsistent with the weak form of theefficient market hypothesis.Users hold that even if technical analysis cannot predictthe future, it helps to identify trading opportunities.In theforeign exchange markets, its use may be more widespread thanfundamental analysis.While some isolated studies have indicated that technical trading rules might lead toconsistent returns in the period prior to 1987, most academic work has focused on the nature of the anomalous position of the foreign exchange market. It is speculated that this anomaly is dueto central bank intervention. Recent research suggests that combining various trading signals intoa Combined Signal Approach may be able to increase profitability and reduce dependence onany single rule.Critics of technical analysis include well-known fundamental analysts. For example,Peter Lynch once commented, "Charts are great for predicting the past."Warren Buffetthas said, "I realizedtechnical analysis didn t work when I turned the charts upside down and didn t get a differentanswer" and "If past history was all there was to the game, the richest people would belibrarians."An influential 1992 study by Brock et al. which appeared to find support for technical tradingrules was tested for data snooping and other problems in 1999; the sample covered by Brock etal. was robust to data snooping.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9, 1], "pageNum": 56}; pageParams.containerElem = document.getElementById("outer_page_56"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/56-65a6f91fb5.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(56);

Subsequently, a comprehensive study of the question by Amsterdam economist GerwinGriffioen concludes that: "for the U.S., Japanese and most Western European stock marketindices the recursive out-of-sample forecasting procedure does not show to be profitable, after implementing little transaction costs. Moreover, for sufficiently high transaction costs it is found, by estimatingCAPMs, that technical trading shows no statistically significant risk-corrected out-of-sample forecasting power for almost all of the stock market indices.Transaction costs are particularly applicable to "momentum strategies"; a comprehensive 1996 review of the data andstudies concluded that even small transaction costs would lead to an inability to capture anyexcess from such strategies.In a paper published in the Journal of Finance Dr. Andrew W. Lo, director MIT Laboratory for Financial Engineering, working with Harry Mamaysky and Jiang Wang found that"Technical analysis, also known as "charting," has been a part of financial practice for manydecades, but this discipline has not received the same level of academic scrutiny and acceptanceas more traditional approaches such as fundamental analysis. One of the main obstacles is thehighly subjective nature of technical analysis---the presence of geometric shapes in historical price charts is often in the eyes of the beholder. In this paper, we propose a systematic andautomatic approach to technical pattern recognition using nonparametric kernel regression, andapply this method to a large number of U.S. stocks from 1962 to 1996 to evaluate theeffectiveness of technical analysis. By comparing the unconditional empirical distribution of daily stock returns to the conditional distribution---conditioned on specific technical indicatorssuch as head-and-shoulders or double-bottoms---we find that over the 31-year sample period,several technical indicators do provide incremental information and may have some practicalvalue." In that same paper Dr. Lo wrote that "several academic studies suggest that...technical analysis may well be an effective means for extracting useful information from market prices." Some techniques such asDrummond Geometryattempt to overcome the past data bias by projecting support and resistance levels from differing time frames into the near-term future andcombining that with reversion to the mean techniques.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9, 1], "pageNum": 57}; pageParams.containerElem = document.getElementById("outer_page_57"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/57-745068209c.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(57);

Chapter-3RESEARCH METHODOLOGY RESEARCH METHODOLOGY Research is an art of scientific investigation. It refers to a search for knowledge.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [7, 2, 5], "pageNum": 58}; pageParams.containerElem = document.getElementById("outer_page_58"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/58-c7ef664022.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(58);

The Advance Learners Dictionary of Current English lays down the meaning of research as, Acareful investigation or inquiry especially through search for new facts in any branch of knowledge.Research Methodology is a way to systematically solve the research problem. The research begins its formation when the problem or objective of the research is identified for which aresearch report is conduced. The main objective for which this report is carried out is to make ananalytical study of derivatives- an instrument of hedging.. RESERCH DESIGN :There are various methods of research design like Exploratory Research Design, DescriptiveResearch Design, Diagnostic Research Design, Deign and Hypothesis

Testing Research Design.In this report, Descriptive Research Design has been used. SOURCES OF DATA :Basically two types of data are available to the researcher namely:1.Primary data2.Secondary dataIn the present study, secondary data has been used. I have collected Secondary data from thedifferent books and magazines on stock exchange and websites of stock exchange. Sample selection and size The various methods of data collection are enumerated as follows:1.Questionnaire method2.Observation Method3.Survey Method4.Experimentation MethodIn the present study, observation method has been used.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 59}; pageParams.containerElem = document.getElementById("outer_page_59"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/59-1cc3fe4db5.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(59);

LIMITATIONS of the STUDY World have so many things, all things have two aspects one is advantages and another isdisadvantages, according to this, my project also has some Limitations that are given below.Although maximum efforts have been put to make the research project comprehensive andfree from any biases, still the scope of project is limited due to some unavoidable reasons. Someof the reasons are given below. LIMITED TIME: There was limited time in which this project has to be completed.Therefore it was a major limitation.

LIMITED SCOPE: It was not possible to contact with experts & technicians. Technical Indicators 1)ACCUMULATION/DISTRIBUTION

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5, 4], "pageNum": 60}; pageParams.containerElem = document.getElementById("outer_page_60"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/60-6eadf651c0.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(60);

Overview The Accumulation/Distribution is a momentum indicator that associates changes in price andvolume. The indicator is based on the premise that the more volume that accompanies a pricemove, the more significant the price move. Interpretation The Accumulation/Distribution is really a variation of the more popular On BalanceVolume indicator. Both of these indicators attempt to confirm changes in prices by comparingthe volume associated with prices.When the Accumulation/Distribution moves up, it shows that the security is beingaccumulated, as most of the volume is associated with upward price movement. When theindicator moves down, it shows that the security is being distributed, as most of the volume isassociated with downward price movement. Divergences between the Accumulation/Distributionand the security s price imply a change is imminent. When a divergence does occur, pricesusually change to confirm the Accumulation/Distribution. For example, if the indicator ismoving up and the security s price is going down, prices will probably reverse. 2.) BOLLINGER BANDSOverview Bollinger Bands are similar to moving average envelopes. The difference between Bollinger Bands and envelopes is envelopes are plotted at a fixed percentage above and below a movingaverage, whereas Bollinger Bands are plotted at standard deviation levels above and below amoving average. Since standard deviation is a measure of volatility, the bands are self-adjusting:widening during volatile

markets and contracting during calmer periods. Bollinger Bands werecreated by John Bollinger. Interpretation Bollinger Bands are usually displayed on top of security prices, but they can be displayed on anindicator. These comments refer to bands displayed on prices. As with moving average

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 61}; pageParams.containerElem = document.getElementById("outer_page_61"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/61-e3ab99f49a.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(61);

envelopes, the basic interpretation of Bollinger Bands is that prices tend to stay within the upper-and lower-band. The distinctive characteristic of Bollinger Bands is that the spacing between the bands varies based on the volatility of the prices. During periods of extreme price changes (i.e.,high volatility), the bands widen to become more forgiving. During periods of stagnant pricing(i.e., low volatility), the bands narrow to contain prices. Following are characteristics of Bollinger Bands. Sharp price changes tend to occur after the bands tighten, as volatility lessens. When prices move outside the bands, a continuation of the current trend is implied. Bottoms and tops made outside the bands followed by bottoms and tops made inside the bandscall for reversals in the trend. A move that originates at one band tends to go all the way to the other band. This observation isuseful when projecting price targets. 3.) COMMODITY CHANNEL INDEXOverview The Commodity Channel Index ("CCI") measures the variation of a security s price from itsstatistical mean. High values show that prices are unusually high compared to average priceswhereas low values indicate that prices are unusually low. Contrary to its name, the CCI can beused effectively on any type of security, not just commodities. Interpretation There are two basic methods of interpreting the CCI: looking for divergences and

as anoverbought/oversold indicator. A divergence occurs when the security s prices are making new highs while the CCI is failingto surpass its previous highs. This classic divergence is usually followed by a correction in thesecurity s price. The CCI typically oscillates between 100. To use the CCI as an overbought/oversold indicator,readings above +100 imply an overbought condition (and a pending price correction) whilereadings below -100 imply an oversold condition (and a pending rally).

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 62}; pageParams.containerElem = document.getElementById("outer_page_62"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/62-6fdd872dd9.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(62);

4.) ENVELOPES (TRADING BANDS

) Overview An envelope is comprised of two moving averages. One moving average is shifted upward andthe second moving average is shifted downward. Interpretation Envelopes define the upper and lower boundaries of a security s normal trading range. A sellsignal is generated when the security reaches the upper band whereas a buy signal is generated atthe lower band. The optimum percentage shift depends on the volatility of the security--the morevolatile, the larger the percentage. The logic behind envelopes is that overzealous buyers andsellers push the price to the extremes (i.e., the upper and lower bands), at which point the pricesoften stabilize by moving to more realistic levels. This is similar to the interpretation of Bollinger Bands. 5.) MACDOverview The MACD ("Moving Average Convergence/Divergence") is a trend following momentumindicator that shows the relationship between two moving averages of prices. The MACD wasdeveloped by Gerald Appel, publisher of Systems and Forecasts. The MACD is the difference between a 26-day and 12-day exponential

moving average. A 9-day exponential moving average,called the "signal" (or "trigger") line is plotted on top of the MACD to show buy/sellopportunities. (Appel specifies exponential moving averages as percentages. Thus, he refers tothese three moving averages as 7.5%, 15%, and 20% respectively.) Interpretation The MACD proves most effective in wide-swinging trading markets. There are three popular ways to use the MACD: crossovers, overbought/oversold conditions, and divergences.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 63}; pageParams.containerElem = document.getElementById("outer_page_63"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/63-2ce7b18480.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(63);

Crossovers The basic MACD trading rule is to sell when the MACD falls below its signal line. Similarly, a buy signal occurs when the MACD rises above its signal line. It is also popular to buy/sell whenthe MACD goes above/below zero. Overbought/Oversold Conditions The MACD is also useful as an overbought/oversold indicator. When the shorter moving average pulls away dramatically from the longer moving average (i.e., the MACD rises), it is likely thatthe security price is overextending and will soon return to more realistic levels. MACDOverbought and oversold conditions exist vary from security to security. Divergences A indication that an end to the current trend may be near occurs when the MACD diverges fromthe security. A bearish divergence occurs when the MACD is making new lows while prices failto reach new lows. A bullish divergence occurs when the MACD is making new highs while prices fail to reach new highs. Both of these divergences are most significant when theyOccur at relatively overbought/oversold levels.

6.) MOMENTUM Overview The Momentum indicator measures the amount that a security s price has changed over a giventime span. Interpretation The interpretation of the Momentum indicator is identical to the interpretation of the Price ROC.Both indicators display the rate-of-change of a security s price. However, the Price ROCindicator displays the rate-of-change as a percentage whereas the Momentum indicator displaysthe rate-of-change as a ratio.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 64}; pageParams.containerElem = document.getElementById("outer_page_64"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/64-2ccdacfcd5.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(64);

7.) ON BALANCE VOLUME Overview On Balance Volume ("OBV") is a momentum indicator that relates volume to price change. OnBalance Volume was developed by Joe Granville. Interpretation On Balance Volume is a running into or out of asecurity. When close, all of the day s volume lower than the previous close, 8.) PRICE OSCILLATOR Overview The Price Oscillator displays the difference between two moving averages of a securities price.The difference between the moving averages can be expressed in either points or percentages.The Price Oscillator is almost identical to the MACD, except that the Price Oscillator can useany two user specified moving averages. (The MACD always uses 12- and 26-day movingaverages, and always expresses the difference in points.) total of volume. It shows if volume is flowing the security closes higher than the previous isconsidered up-volume. When the security closes all of the day svolume is considered down-volume.

Interpretation Moving average analysis typically generates buy signals when a short-term moving average (or the securities price) rises above a longer-term moving average. Conversely, sell signals aregenerated when a shorter-term moving average (or the securitys price) falls below a longer-termmoving average. The Price Oscillator illustrates the cyclical and often profitable signalsgenerated by these one- or two-moving-average systems. 9.) VOLUMEOverview

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 5], "pageNum": 65}; pageParams.containerElem = document.getElementById("outer_page_65"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/65-06b90e3a17.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(65);

Volume is simply the number of shares (or contracts) traded during a specified time frame (e.g.,hour, day, week, month, etc). The analysis of volume is a basic yet very important element of technical analysis. Volume provides clues as to the intensity of a given price move. Interpretation Low volume levels are characteristic of the indecisive expectations that typically occur duringconsolidation periods (i.e., periods where prices move sideways in a trading range). Low volumealso often occurs during the indecisive period during market bottoms. High volume levels areCharacteristic of market tops when there is a strong consensus that prices will move higher. Highvolume levels are also very common at the beginning of new trends (i.e., when prices break outof a trading range). Just before market bottoms, volume will often increase due to panic-drivenSelling. Volume can help determine the health of an existing trend. A healthy up-trend shouldhave higher volume on the upward legs of the trend, and lower volume on the downward(corrective) legs. A healthy downtrend usually has higher volume on the downward legs of thetrend and lower volume on the upward (corrective) legs. 10.) VOLUME OSCILLATOR Overview The Volume Oscillator displays the difference between two moving averages of a security svolume. The difference between the moving averages can be expressed in

either points or percentages. Interpretation We can use the difference between two moving averages of volume to determine if the overallvolume trend is increasing or decreasing. When the Volume Oscillator rises above zero, itsignifies that the shorter-term volume moving average has risen above the longer-term volumemoving average, and thus, that the short-term volume trend is higher (i.e., more volume) than thelonger-term volume trend.There are many ways to interpret changes in volume trends. One common belief is that rising prices coupled with increased volume, and falling prices coupled with decreased volume, is bullish. Conversely, if volume increases when prices fall, and volume decreases when prices rise,

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 9], "pageNum": 66}; pageParams.containerElem = document.getElementById("outer_page_66"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/66-edcb188738.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(66);

the market is showing signs of underlying weakness. The theory behind this is straight forward.Rising prices coupled with increased volume signifies increased upside participation (more buyers) that should lead to a continued move. Conversely, falling prices coupled with increasedvolume (more sellers) signifies decreased upside participation.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5], "pageNum": 67}; pageParams.containerElem = document.getElementById("outer_page_67"); pageParams.contentUrl = "http://html1.scribdassets.com/5m10kqbhs0izeyr/pages/67-885821d59b.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(67);

Chapter-6Findings & Suggestions FINDINGS

Majority of the people is investing in securities.

Core objective of maximum people for investing is highest potential returns & minimum people for preservation of capital.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 6, 5], "pageNum": 68}; pageParams.containerElem = document.getElementById("outer_page_68"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/68-f05a0480fa.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(68);

The more volume that accompanies a price move, the more significant the price move.

More people are investing in passive portfolio than active

Most of the people prefer equity because of high returns associated with it.

People invest in debt because it provides constant returns at less risk.

Majority of people invest their own money rather than borrowings.

Long term investments are done for maximize income and to gain opportunity for

future by most of the investors

Most of the investors dont assist with risk return profile of the particular companythemselves.

Rising prices coupled with increased volume, and falling prices coupled with decreasedvolume, is bullish.

When the security closes lower than the previous close, all of the day s volume isconsidered down-volume.

Low volume also often occurs during the indecisive period during market bottoms. Highvolume levels are Characteristic of market tops when there is a strong consensus that prices will move higher. ]SUGGESTIONS

People should be more aware and educated about Technical analysis of securities.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [6, 5, 9], "pageNum": 69}; pageParams.containerElem = document.getElementById("outer_page_69"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/69-90b01fbcc8.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(69);

The investment tools should be used by investors keeping in mind various risk factors.

Future uncertainty should be considered as a major influencing element while doing theinvestments.

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [6, 5], "pageNum": 70}; pageParams.containerElem = document.getElementById("outer_page_70"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/70-e5d14586b2.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(70);

Chapter-7Annexure BIBLIOGRAPHYBOOKS:

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [9, 2], "pageNum": 71}; pageParams.containerElem = document.getElementById("outer_page_71"); pageParams.contentUrl = "http://html2.scribdassets.com/5m10kqbhs0izeyr/pages/71-c1833a9039.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(71);

1.M. Ranganatham & R. Madhumathi Investment Analysis & portfolio Management, PearsonPublication2.Punithavathy Pandian, Security analysis and portfolio management, Vikas publication.3.Chandra Prasanna, investment Analysis & portfolio management , TMH publication4.Nabhis, Manual of SEBI , A Nabhi Publication, Vol-25.Varshney P.N,Indian Financial System Sultan Chand & Sons, Educational Publisher , NewDelhi,20026.Kothari, C.R., Research MethodologyMethods and Technique, Willay International Ltd. 7.Ward, P., & Davies, B. J. (1999). The diffusion of interactive technology at the customer interface. International Journal of Technology Management, 17(1/2), JOURNALS AND MAGAZING: 1.Business India2.Business Today3.Business Line4.Capital Market

WEBSITE: 1.www.investopedia.com 2. www.scribd.com3.business.mapsofindia.com 4. www.ehow.com5.www.Technical analysis.com

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [5, 2, 9, 3], "pageNum": 72}; pageParams.containerElem = document.getElementById("outer_page_72"); pageParams.contentUrl = "http://html3.scribdassets.com/5m10kqbhs0izeyr/pages/72-1648046603.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(72);

(function() { var pageParams = {"origHeight": 1167, "origWidth": 902, "fonts": [], "pageNum": 73}; pageParams.containerElem = document.getElementById("outer_page_73"); pageParams.contentUrl = "http://html4.scribdassets.com/5m10kqbhs0izeyr/pages/73-0369fd9b32.jsonp"; var page = docManager.addPage(pageParams); })(); Scribd.Ads.addBetweenPageUnit(73); window.docManagerIEAdded = true; if (document.observe) { document.observe( dom:loaded , function () { docManager.allPagesAdded(); }); } else { window.attachEvent( onload , function () { docManager.allPagesAdded(); }); } if (window.docManagerIEAdded != true) { docManager.allPagesAdded(); }

Download

0 Go BackComment Link Embed Zoom

of 73 Readcast

0inShare

More From This User

73 p. Project Report by ANU JINDAL pkjindle 1117 Reads

64 p. Updated a Project Report by Anu Jindal.............. (3) pkjindle 988 Reads

14 p. Good Communication Skills by Anu pkjindle 777 Reads Next

40 p. Green marketing Presentation pkjindle 1498 Reads Previous

Related

97 p. Project Report on Technical Analysis vishalnabde 12197 Reads

97 p. 28810141 Project Report on Technical Analysis syedanwarahmed5870 1061 Reads

97 p.

28810141 Project Report on Technical Analysis mili_t 55 Reads Next

97 p. technical analysis kkrathod 526 Reads

97 p. 28810141-Project-Report-on-Technical-Analysis brinda2589 125 Reads

34 p. Technical Analysis api_user_11797_bijujohn 2256 Reads Previous | Next

46 p. Technical Analysis: The Use Of Trend classybd 726 Reads

46 p.

Technical Analysis: Indicators And Oscillators classybd 726 Reads

46 p. 6662521 Technical Analysis classybd 726 Reads Previous | Next

46 p. Technical Analysis api_user_11797_raghav 2986 Reads

54 p. Head and Shoulders rathneshkumar 2263 Reads

54 p. MACD= shorter term moving average - longer rathneshkumar 2263 Reads Previous | Next

54 p. Energy Trading {Unit 04} rathneshkumar 2263 Reads

43 p. Next: Technical Analysis: The Basic Assumptions Rahul Chaudhary 489 Reads

43 p. Next: Technical Analysis: Chart Patterns Rahul Chaudhary 489 Reads Previous | Next

43 p. Technical Analysis Rahul Chaudhary 489 Reads

29 p. Technical Analysis: Introduction PDFOne com 717 Reads

144 p.

Technical Analysis Mod Neelu_Tuteja_8861 349 Reads Previous | Next

43 p. Role of Technical Analysis as a Tool for Trading Decisions vakhariajimmy 156 Reads

86 p. Project Raddipeti 592 Reads

40 p. Tech Ansis nitinvasu 450 Reads Previous | Next

50 p. Project Report Pritish Popli 303 Reads

37 p.

Seminar in Keparat Aliff Ramlee s 54 Reads

27 p. Technical Analysis Praveen Paul Thomas 112 Reads Previous | Next

22 p. Technical Analysis[1].doc Rek Ma 135 Reads Previous

Leave a Comment

Comment must not be empty.

Submit Characters: 400

Comment must not be empty.

Submit Characters: ...

5.) MACD for Project Report by ANU JINDAL Download or Print Add To A Collection

1.1K Reads 19 Readcasts 0 Embed Views This is a private document.

Published by pkjindle

Follow Following

Search TIP Press Ctrl-F F to quickly search anywhere in the document.

Search Search History: Searching...

Result 00 of 00 00 results for result for

p.

Scribd.Ads.addUnit( Doc_Sideboard_MediumRectangle_ATF_300x250 );

Sections 1) Bar Charts 2. Cup And Handle 3. Exponential Moving Average (EMA) 4.) ENVELOPES (TRADING BANDS) 5.) MACD 6.) MOMENTUM 7.) ON BALANCE VOLUME 8.) PRICE OSCILLATOR 9.) VOLUME Overview 10.) VOLUME OSCILLATOR Overview Info and Rating

Category: Research > Arts & Architecture

Rating:

Upload Date: 04/06/2010

Copyright: Attribution Non-commercial

Tags: This document has no tags. var tag_list = $( tag_list ); if(tag_list) { var fullList = $( tags_all ); var truncatedList = $( tags_truncated ); tag_list.select( .control_btn ).invoke( observe , click , function(e) { e.stop(); fullList.toggle(); truncatedList.toggle(); }); } Flag document for inapproriate content <script type="IN/Share">!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement (s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBef ore(js,fjs);}}(document,"script","twitter-wjs");

document.observe("dom:loaded", function(){ docManager.gotoPage(63); });

AboutWhat is Scribd? Blog Join our team! Advertise with usGet started AdChoices SupportHelp FAQ

Press PartnersPublishers Developers / API LegalTerms Privacy Copyright

Copyright 2012 Scribd Inc. Language: English Choose the language in which you want to experience Scribd: English Espaol Portugus scribd. scribd. scribd. scribd. scribd. scribd. scribd. scribd. scribd. scribd. if (typeof(_gaq) != undefined ) { _gaq.push(function() { _gaq._createAsyncTracker( UA-443684-17 , pageTrackerPerf ); }); _gaq.push([ pageTrackerPerf._trackPageview ]); } else { console.warn( _gaq undefined ); } document.observe( dom:loaded , function() { if (typeof(perfStart) != undefined ) { trackPerfAnalytics(null, perfStart, new Date(), false); } }); Event.observe(window, load , function() { if (typeof(perfStart) != undefined ) { trackPerfAnalytics(null, perfStart, new Date(), true); } }); var _qevents = _qevents || []; (function() { var elem = document.createElement( script ); elem.src = (document.location.protocol == "https:" ? "https://secure" : "http://edge") + ".quantserve.com/quant.js"; elem.async = true; elem.type = "text/javascript"; var scpt = document.getElementsByTagName( script )[0]; scpt.parentNode.insertBefore(elem, scpt); })(); _qevents.push( { qacct:"p-13DPpb-yg8ofc"} ); <div style="display: none;"><img src="//pixel.quantserve.com/pixel/p-13DPpb-yg8ofc.gif" height="1" width="1" alt="Quantcast"/></div> Scribd.Facebook.scribdSessionActive = true; Scribd.Facebook.serverEnableInstantConnect = Scribd.getOption("FBAutoLoginEnabled", false); Scribd.Facebook.sessionEnableInstantConnect = true; Scribd.Facebook.requestEnableInstantConnect = true; Scribd.Facebook.beforeFacebookInitialize(); Scribd.Request = { referrer: http://www.scribd.com/doc/28810141/Project-Report-on-Technical-Analysis , controller: newdoc , action: section }; // This calls the initialization once Facebook libraries are loaded window.fbAsyncInit = Scribd.Facebook.initializeConnect.bind(Scribd.Facebook);

if (!NREUMQ.f) { NREUMQ.f=function() { NREUMQ.push(["load",new Date().getTime()]); var e=document.createElement("script"); e.type="text/javascript";e.async=true;e.src="https://d1ros97qkrwjf5.cloudfront.

width= 0 height= 0 %3E%3C/img%3E")); // INSERT DATA HERE IN THE FORM: // bk_addPageCtx("SOMEKEY", "SOMEVALUE"); // bk_addUserCtx("SOMEKY", "SOMEVALUE") bk_addUserCtx("Gender","m"); bk_addUserCtx("UserState","In"); bk_addPageCtx("Language", "ita"); bk_addPageCtx("Extension", "doc"); bk_addPageCtx("SubDomain", "www"); bk_addPageCtx("IABParent", "Arts & EntertainmentTechnology & ComputingBusinessHealth & FitnessScience"); bk_addPageCtx("IAB_A-L", "Arts & EntertainmentBusinessHealth & Fitness"); bk_addPageCtx("IAB_M-Z", "Technology & ComputingScience"); bk_doJSTag(4072, 4); v ar infolink_pid = 469269; var infolink_wsid = 0; var __chd__ = {"aid":11071,"chaid":"scribd_com"};(function() { var c = document.createElement( script ); c.type = text/javascript ; c.async = true;c.src = ( https: == document.location.protocol ? https://z : http://p ) + .chango.com/static/c.js ; var s = document.getElementsByTagName( script )[0]; s.parentNode.insertBefore(c, s);})();

net/40/eum/rum.js"; document.body.appendChild(e); if(NREUMQ.a)NREUMQ.a(); }; NREUMQ.a=window.onload;window.onload=NREUMQ.f; }; NREUMQ.push(["nrfj","beacon-1.newrelic.com","a3dc4ea499",16587,"clZeFxYOCQhTQhh ZAUZdXwBLEgAHQllYWQ==",1,566,new Date().getTime(),"","","","",""]) document.observe( Scribd:Readcast:FacebookAutoShare:started , function() { autoshare = Scribd.Readcast.active_events[ facebook ]; Scribd.UI.sharer = new Scribd.UI.Sharer("autogen_id_627542483", "viewer", autoshare); }); document.observe( dom:loaded , function() { Scribd.UI.sticky_bar = new Scribd.UI.StickyBar("autogen_id_627537101", "document_column", "sidebar"); } ); document.observe("dom:loaded", function() { Scribd.Pingback.run(["/", "d", "o", "c", "u", "m", "e", "n", "t", "s", "/", "2", "9", "4", "6", "2", "0", "3", "1", "/", "p", "i", "n", "g", "b", "a", "c", "k", "?", "s", "e", "c", "t", "i", "o", "n", "_", "i", "d", "=", "1", "0", "1", "1", "4", "7", "3", "%", "3", "A", "5"].join( )); }); var reflow_quality_good = false; Scribd.logged_in = true; Scribd.Lightbox.initialize(); document.observe("dom:loaded", function(e) { (new Scribd.Layouts.Footer.LanguageSelector({widget_dom_id: "autogen_id_627520640"})).onDomLoaded(e); }); // Load the FB JS API Asychronously document.observe( dom:loaded , function() { var e = document.createElement( script ); e.async = true; e.src = document.location.protocol + //connect.facebook.net/en_US/all.js ; document.getElementById( fb-root ).appendChild(e); if (document.cookie.match( user_forced_logout=true )) { $$( .facepile_wrap ).invoke( hide ); } }); // Handle DOM updates to re-parse FBML tags document.observe( Scribd:dom_updated , function(e){ var el = e.element(); if(window.FB && FB.XFBML) FB.XFBML.parse(el); }); var facebookUser = true; var facebookUserId = 100001238666730; var facebookUserPermissions = ""; var facebookUserInstantConnected = true; Event.observe(window, load , function() { new Scribd.AdHider(); }); Scribd.I18n = new Scribd.I18nManager(); var xgJsHost = (("https:" == document.location.protocol) ? "https://sxcdn." : "http://xcdn."); var refValue = ""; try {refValue = top.document.referrer;} catch (xgErr) {refValue = "";} var params = "pid=14345&sid=83112&pcid=site&type=us&ref="+escape(refValue)+"&dref="+escape(do cument.referrer);p var browser_id = 510d2d59-95e6-491f-8bf6-5709ef42ed4d ; var scribd_user_id = 73596649; var hashed_facebook_id = "d7093862264308862a63cc8d690438d64a98bfa5"; var search_query = null; if (browser_id) params += &p_bid= + escape(browser_id); if (scribd_user_id) params += &p_lid= + escape(scribd_user_id); if (hashed_facebook_id) params += &hfid= + escape(hashed_facebook_id); if (search_query) params += &p_qry= + escape(search_query); document.write(unescape("%3Cimg src= "+xgJsHost+"xgraph.net/14345/us/xg.gif?")+params+unescape(" class= ad_img

$perf.registerOnload();