Stock analysis of oil drilling and exploration companies impacting india’s economic environment

Abstract

According to the Rainforest Foundation USA, Oil drilling and exploration may cause massive deforestation and dangerous poisons directly pumped into the natural environment, but the drilling and exploration simultaneously generate business activity across a spectrum of industries which may leads improvement in the economic situation. This study has been taken into consideration the top five Indian companies by their market capitalisation, which is specifically into oil drilling and exploration business. The growth of these companies has analysed by using the most famous and reliable technical indicator, Wilder’s Relative Strength Index (RSI) to explain the movement of their stock values. If RSI shows a value less than 30, it indicates that the stock or index is in the oversold territory (It's stock price indicate internal strength of Stocks), while a value higher than 70 suggests an overbought status. The result findings from the stock analysis of top five oil drilling and exploration companies are up to the mark and show the balanced growth of these organisations besides all the adverse effects of oil drilling and exploration as they are performing well by keeping in view all the suggestive measures for the benefit of India’s economic environment.