Effectiveness of Technical Analysis in Banking Sector of Equity Market

Abstract

This study is aimed at undertaking technical analysis of selected companies included in the CNX Nifty. The project also demonstrates how technical analysis can be of valuable use for the investors in marking their investment decisions. To analyze tools of technical analysis can be used in forecasting stock prices. To find the right stock for investment and to provide the justification for the investment based on the candlestick charts and indicators. To know the movements (upward or downward) of stock prices of selected company stocks through Technical analysis.The descriptive method is used to study the price trend of fifteen stocks using MACD and RSI charting technique of technical analysis. The data used for analysis is secondary data obtained from the spider software for technical analysis. The sampling method used in this research is simple random sampling. The three banking companies are taken from the NSC quoted stocks where more than 9000 companies were listed.