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Technical analysis on selected sectors
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1. INTRODUCTION OF THE TOPIC:
TECHNICAL ANALYSIS
Technical Analysis is important to form a view on the likely trend of the overall
market and it is helpful to have some idea of how to go about selecting individual
stocks. Naturally all investors would like their investments to appreciate rapidly in
price but stocks which may satisfy this wish tend to accompanied by a substantially
greater amount of risk then many investors are normally willing to accept. However it
is important to understand that investors can be very conscious when it comes to stock
ownership.
Technical analysis is the use of numerical series generated by market activity such as
price and volume to predict future price trends. The techniques applied to any market
with a comprehensive price history. Primarily but not exclusively technical analysis is
conducted by studying charts of past price movement. Many different methods and
tools are used in technical analysis, but they all rely on the assumption that price
patterns and trends exist in markets and that they can be identified and exploited.
Technical analysis or charting is considered to be as a supplement to Fundamental
Analysis of securities. As an approach to investment analysis technical analysis is
radically different from fundamental analysis. While the fundamental analysts believe
that the market is 90% logical and 10% psychological the technical analysis assumes
that its 90% psychological and 10% logical. Technical analysis can be applied to any
market with a comprehensive price history. The premises of technical analysis were
derived from empirical observations of financial markets over hundreds of years.
Perhaps the oldest branch of technical analysis is the use of candlestick techniques by
Japanese traders at least as early as the 18th century, and still very popular today.
DOW THEORY ITS CORNERSTONE
New tools and theories have been produced and existing tools have been enhanced at
a rapid rate in recent decades with an increasing emphasis on computer-assisted
techniques. Technical analysis is not concerned with why a price is moving but rather
whether it is moving in a particular direction or in a particular chart pattern. Technical
analysts believe that profits can be made by trend following. In other words if a
particular stock price is steadily rising (trending upward) then a technical analyst will
look for opportunities to buy this stock. Until the technical analyst is convinced this
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uptrend has reversed or ended all else equal he will continue to own this security.
Additionally technical analysts look for various price patterns to form on a price chart
and will take positions in anticipation of the expected move following that pattern.
The various tools of technical analysis assist the technician in determining when
trends have formed ended etc. and when particular patterns are unfolding.
One of the forecasting tools very popular among practitioners is technical analysis.
Technical analysis is the examination of past price movements in order to forecast
future price movements. Technical analysis is open to interpretation. Many times two
technicians will look at the same chart and paint two different scenarios or see
different patterns. Both would be able to come up with logical support to justify their
position.
In addition even if stock prices completely followed a random walk people would be
able to convince them that there are e patterns having a predictive value. It has
become more and more popular as it offered an unlimited set of tools and signals and
seemed to be an interesting method of market analysis. It has been proven that stock
prices most of the time approximately follow a random walk pattern. Psychologists
have described a number of ways in which people deal with randomness. Additionally
market participants may be subject to herd behavior.
Technical analysis is applicable to stock indices commodities futures or any tradable
instrument where the price is influenced by the forces of supply and demand. Price
refers to any combination of the open, high low or close for a given security over a
specific time frame. The time frame can be based on intraday (1-minute, 5-minutes,
10-minutes, 15-minutes, 30-minutes or hourly), daily, weekly or monthly price data
and last a few hours or many years. In addition some technical analysts include
volume or open interest figures with their study of price action.
Economists have raditiolly been skeptical of the value of technical analysis affirming
the theory of efficient markets that holds no strategy should allow investors and
traders to make unusual returns except by taking excessive risk.
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TECHNICAL ANALYSIS VS. FUNDAMENTAL ANALYSIS
Differentiating factor Technical analysis Fundamental analysis
Basis of decision making Technical analysis bases
their decision primarily on
price history, volumes and
charts.
Fundamental analysis on
the other hand base their
decisions on economic
indicators and financial.
Basis of evaluation Technical analysis
believes that there is no
reason to analyses
financials or economic
indicators. Price discount
all information and charts
reflects the information
Fundamental analysts
relatively takes long term
approach and evaluate
securities on the basis of
their intrinsic value
Time approach Technical analysis can be
used for timeframe of
weeks, days or even hours
depending upon the time
perspective of the trade
On the other hand
fundamental analysts study
financial, economic date
over long term and thus
have a perspective for the
long number of years.
Primary Phases of Movements:
Secondary movements normally retrace from one-third to two thirds of the primary
trend since the previous secondary movement.
Daily fluctuations are important for short-term trading, but are unimportant in analysis
of broad market movements.
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BULL TRENDS
A bull trend is identified by a series of rallies where each rally exceeds the highest
point of the previous rally. The decline, between rallies, ends above the lowest point
of the previous decline Successive higher highs and higher lows
The start of an uptrend is signaled when price makes a higher low (trough), followed
by a rally above the previous high (peak):
Start = higher Low + break above previous High.
The end is signaled by a lower high (peak) followed by a decline below the previous
low (trough):
End = lower High + break below previous Low.
BEAR TRENDS
A bear trend starts at the end of a bull trend: when a rally ends with a lower peak and
then retreats below the previous low. The end of a bear trend is identical to the start
of a bull trend. Each successive rally fails to penetrate the high point of the previous
rally. Each decline terminates at a lower point than the preceding decline.
Successive lower highs and lower lows
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How Technical Analysis is Done
Technical analysis done by identifying the trend from past movements and then using
it as a tool to predict future price movements of the stock with the use of the tools of
technical analysis
ASSUMPTIONS OF TECHNICAL ANALYSIS
1. The Market Discounts Everything
A major criticism of technical analysis is that it only considers price movement
ignoring the fundamental factors of the company. However technical analysis
assumes that at any given time a stock's price reflects everything that has or could
affect the company - including fundamental factors. Technical analysts believe that
the company's fundamentals, along with broader economic factors and market
psychology are all priced into the stock removing the need to actually consider these
factors separately. This only leaves the analysis of price movement which technical
theory views as a product of the supply and demand for a particular stock in the
market.
2. Price Moves in Trends
In technical analysis price movements are believed to follow trends. This means that
after a trend has been established the future price movement is more likely to be in the
same direction as the trend than to be against it. Most technical trading strategies are
based on this assumption.
3. History Tends To Repeat Itself
Another important idea in technical analysis is that history tends to repeat itself
mainly in terms of price movement. The repetitive nature of price movements is
attributed to market psychology in other words market participants tend to provide a
consistent reaction to similar market stimuli over time. Technical analysis uses
chart patterns to analyze market movements and understand trends. Although many of
these charts have been used for more than 100 years they are still believed to be
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relevant because they illustrate patterns in price movements that often repeat
themselves
CHART PATTERN
1 Candlestick Charting: Candlestick charts have been around for hundreds of years.
They are often referred to as “Japanese candles” because the Japanese would use them
to analyze the price of rice contracts.
Similar to a bar chart, candlestick charts also display the open, close, daily high and
daily low. The difference is the use of color to show if the stock went up or down
over the day.
The chart below is an example of a candlestick chart for AT&T (T). Green bars
indicate the stock price rose red indicates a decline:
Figure: Candlestick charting
Investors seem to have a "love/hate" relationship with candlestick charts. People
either love them and use them frequently or they are completely turned off by them.
There are several patterns to look for with candlestick charts - here are a few of the
popular ones and what they mean.
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This is a bullish pattern - the stock opened at (or near) its low and closed near
its high
The opposite of the pattern above this is a bearish pattern. It indicates that the
stock opened at (or near) its high and dropped substantially to close near its low.
Known as "the hammer", this is a bullish pattern only if it occurs after the
stock price has dropped for several days. A small body along with a large range
identifies a hammer. This pattern indicates that a reversal in the downtrend is in the
works.
2 Line Chart:
The most basic of the four charts is the line chart because it represents only the
closing prices over a set period of time. The line is formed by connecting the closing
prices over the time frame. Line charts do not provide visual information of the
trading range for the individual points such as the high low and opening prices.
However the closing price is often considered to be the most important price in stock
data compared to the high and low for the day and this is why it is the only value used
in line charts.
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Known as a "star”. For the most part stars typically indicate a reversal and or
indecision. There is a possibility that after seeing a star there will be a
reversal or change in the current trend.
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1.1 BACKGROUND OF THE STUDY
A method of evaluating securities by analyzing 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 charts to identify patterns that can suggest
future activity. Technical analysts believe that the historical performance of stocks
and markets are indications of future performance.
Technical Analysis has become increasingly popular over the past several years as
more and more people believe that the historical performance of a stock is a strong
indication of future performance. People using fundamental analysis have always
looked at the past performance of companies by comparing fiscal data from previous
quarters and years to determine future growth. The difference lies in the technical
analyst’s belief that securities move according to very predictable trends and patterns.
These trends continue until something happens to change the trend and until this
change occurs Price levels are predictable.
Investors successfully trade securities using only their knowledge of the security’s
chart without even understanding what the company does. Although technical
analysis is a terrific tool most agree it is much more effective when used in
combination with fundamental analysis.
1.2 STATEMENT OF THE PROBLEM
Technical analysis (or Chartism) is the study of price movement and trends in markets
in order to forecast future prices. Investment timing plays a crucial role for trading in
stock market trading. The investors face difficulty while identifying the opportunities.
So this analysis is directed towards the use of different tools of technical analysis.
Which helps the investor to identify and decide when to buy or sell.
The very first step consists of examining the risk return characteristics of individual
securities. Security analysis is such a crucial activity because every investor has to
decide on the type number and time timing of buying and selling of the shares.
Today the thousands of securities available for an invest he has to decide on.
• Which stock to invest?
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• What type of security to buy?
• When to sell the securities?
• Where to Invest?
• How to Invest?
• Whether hold sell or buy securities?
All these questions need to be answered before the investment can take place and also
determining prospective benefits from the investment in a security. The risk
associated with that investment.
1.3 OBJECTIVES OF THE STUDY
This study is aimed at undertaking technical analysis of selected companies included
in the Indian stock market.
The following are the main objectives of this study.
• To gain the practical knowledge of technical analysis.
• To understand and identify the overbought and oversold price levels as
derived from using selected sectors historical data available
• To know how technical tools are used to predict the future behavior of the
stock.
• To know how charting techniques are useful to take buy or sell decisions.
• To know how an investor can take rational investment decision by the study of
market trends and movement.
• To provide the investors with a techniques with which they can make a decent
profit by trading in stock.
• To forecast the future trends and provide suitable suggestion to the investors.
SCOPE OF THE STUDY
The study mainly focuses on studying basic tools used in technical analysis to predict
futures stock price movements based on the clients risk appetite. Technical analysis is
having a broad scope in each and every segment like equity, commodity, currency,
Forex, as it is not considering any intrinsic value. Technical indicators include pure
mathematics and low of nature so it has global presence in trading.
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There are various sectors in the economy of Indian stock market; the sectors selected
in the study are selected on random basis. Stocks forming part of the sector are
selected on the basis of industry leadership.
The study is restricted to three selected sectors from Indian stock market; from each
sector three stocks have been selected and the sectors and stocks are as below.
Banking sectors:
• State Bank of India
• Industrial Credit and Investment Corporation of India (ICICI) Bank
• HDFC Bank
Infrastructure sectors:
• BHEL(Bharat Heavy Electricals).
• Larsen and Toubro.
• Adani Ports and Special Economic Zone.
F.M.C.G sectors:
• Colgate-palmolive co.(CL)
• Procter and Gamble CO
• ITC holdings corp.(ITC
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2. LITERATURE REVIEW
• Ramaswami.K (1996) assessed the relationship among book values earnings
dividend and market price of share impact of bonus issues impact of security
scam on equity return .to that end the author used daily share price of 30
companies included in the construction of BSE sensitive index, daily data of
BSESI and NYSE composite index, annual data on BV per share market price
per share EPS and DPS and data on bonus issue made during the period of
study the researcher used correlation regression and frequency distribution for
interpreting data.
• Sharma and Robert E. Kennedy (1977) tested the applicability of random walk
hypothesis to the stock market in developing country namely India and
compare this to that of stock markets in developed countries namely USA and
England. For this purpose the price behavior of Bombay stock exchange is
statistically examined both for randomness and independence .The test the
random walk hypothesis. The test covers 132 monthly observations for each
stock market index of common stock listed in Bombay exchange for eleven
years from 1968-1973.The study indicates that price dependence while
statistically significant, is comparably small in the developing countries.
Based on the test, it is evident that the Bombay stock exchange stock obeys a
random walk and is equivalent to developed countries stock exchange.
• Fernando Fernandez –Rodriguez, Simon Sosvilla –Rivero, Julian Andrada –
Felix (1999) assessed whether some simple forms of technical analysis can
predict stock price movement in the Madrid stock exchange covering thirty-
one-year period from Jan 1966 –Oct 1997.the results provide strong support
for profitability of those technical trading rules. By making use of bootstrap
techniques the author shows the returns obtained from these trading rules are
not consistent with several null models frequently used in finance.
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• C. L. Osler (2001) provides a micro structural explanation for the success of
two familiar predictions from technical analysis: (1) trends tend to be reversed
at predictable support and resistance levels, and (2) trends gain momentum
once predictable support and resistance levels are crossed. The explanation is
based on a close examination of stop-loss and take-profit orders at a large
foreign exchange dealing bank. Take-profit orders tend to reflect price trends
and stop-loss Technical Analysis on Selected Stocks of Energy Sector orders
tend to intensify trends. The requested execution rates of these orders are
strongly clustered at round numbers, which are often used as support and
resistance levels. Significantly, there are marked differences between the
clustering patterns of stop-loss and take-profit orders, and between the patterns
of stop-loss buy and stop-loss sell orders. These differences explain the
success of the two predictions.
• Gupta, (2003) examined the perceptions about the main sources of his worries
concerning the stock market. A sample comprise of middle-class household’s
spread over 21 sates/union territories. The study reveals that the foremost
cause of worry for household investors is fraudulent company management
and in the second place is too much volatility and in the third place is too
much price manipulation.
• Ravindra and Wang (2006) examine the relationship of trading volume to
stock indices in Asian markets. Stock market indices from six developing
markets in Asia are analyzed over the 34 month period ending in October
2005. In the South Korean market, the causality extends from the stock indices
to trading volume while the causality is the opposite in the Taiwanese market.
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3. RESEARCH METHODOLOGY
The methods which are used for the study is technical tools based on time value and
trends the intrinsic value does not play any important roles her. So we are using the
technical tools like. For the study 9 companies were selected Indian stock market.
There are following steps in methodology.
• Use of technical tools Exponential Moving Average, Relative Strength Index ,
Moving average, convergence and divergence.(MACD),
• Identification of patterns and trends in the stock price movements.
• Preparation of stock chart, Line chart showing the price and volume of the
stocks over the period of time and Interpret charts.
• Calculating the data Microsoft Excel is used.
• The data required for the study is collected from the only source i.e.
3.1 RESEARCH DESIGN
EXPONENTIAL MOVING AVERAGE
An exponential moving average is a weighted moving average. Recent price is given
more weight than older price. The concept behind this is that more recent price are
considered more important than older price. A 200-day long term simple average
equal weightage to price data that are more than six month old.
Calculation of the EMA is more complex than calculation of a simple moving
average. An EMA calculation first needs and exponent. The calculation of the
exponent is simple.
Exp= 2/n+1
Where n = the number of days of the moving average.
The weight given for the short period is more than the weight given for the longer
period. The weighting declines by half when the moving average period doubles.
EMA = (Current day’s close- previous day EMA)*Exponent + previous day EMA.
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RELATIVE STRENGTH INDEX
The RSI can be calculated for any number of days depending on the wish of technical
analyst and the time frame of trading adopted in a particular stock market . RSI is
calculated for 30 days.
If the period considered is longer, the possibility of getting the wrong signals is
reduced. Reactionary or sustained rise or fall in the price of the scrip is foretold by the
RSI.
If the share price is falling and RSI is rising a divergence is said to have occurred.
Divergence indicates the turning point of the market. If the RSI is rising in the
overbought zone it indicates a fall in price. If the RSI falls in the overbought zone it
gives a clear sell signal. The term overbought describe the price level at which
momentum can no longer be maintained and the price has to go down. The condition
occurs after a sharp rise in price during a period of heavy buying. When the RSI is in
the oversold region it generates a buy signal. The term oversold is used to describe a
security on market that has declined to an unreasonably low level. The condition is
characterized by an increase in sales and excess of net decline.
RSI = 100-(100/1+Rs)
= Average Gain Per Day/ Average loss Per Day
MOVINGAVERAGE,CONVERGENCE,AVERAGE,DIVERGENCE
(MACD)
Moving average convergence and divergence is the different between two exponential
moving averages. It measures the convergence and divergence between two
exponential moving average of varying periods. Short term and long term exponential
moving averages are calculated using the closing price. The MACD considers the
difference between the short term and long term exponential moving averages. Daily
or weekly moving average is also calculated. The 12 days and 26 days exponential
average.
MACD Line =12- day EMA-26-day EMA
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3.2 SAMPLE DESIGN
The sample consists of three sectors stocks of different companies. The sampling
technique used here is convenience sampling, the companies were selected randomly
and based on their performance which is listed in NSE and BSE
3.3 DATA SOURCES
Primary data were collected through direct interactions with the clients of Intime
Equities limited (formerly known as Fortune Equity Broker ltd Other data used in this
study are publicly available data collected from secondary source. The major source
of the data is the website of Indian stock market. Text books and Business journals
and newspapers are also to collect some data and information.
3.4 HYPOTHESIS
Is not applicable to my project.
3.6 DATA ANALYSIS TOOLS
Exponential Moving Average for 26-days in Excel Spreadsheet Procedure:
• At column D, cell 28 write =Average(C3:C28). Press enter and drag a to fill
other cell. To get SMA
• At column E, cell 29 write =2/(26+1). Press enter and drag to fill other cell. To
get SF
• At column F, cell 29 write =((29*(2/(26+1))+F28*(1-(2/(26+1)))). Press enter
and drag to fell other cell. To get EMA.
Relative Strength Index for 30-days in Excel Spreadsheet Procedure
• At column C, cell 4 write =B4-B3. Press enter and drag to fell other cell. To
get the change value.
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• At column D, cell 4 write =IF(C4>0,C4,0). Press enter and drag to fell other
cell. To get the gain value.
• At column E, cell 4 write =IF(C4<0,-C4,0). Press enter and drag to fell other
cell. To get the loss value.
• At column F, cell 33 write =(sum(D4:D33)/30). Press enter and drag to fell
other cell. To get the average gain value.
• At column G, cell 33 write =(sum(E4:E33)/30)
• At column H, cell 33 write =F33/G33. Press enter and drag to fell other cell.
To get the average loss value.
• At column I, cell 33 write =IF(G33=0,100,100-(100/(1+H33))). Press enter
and drag to fell other cell. To get the value relative strength index.
Moving Average Convergence and Divergence (MACD)
• At column C, cell 13 write =average (B2:B13). Press entry and drag to fell
other cell. To get the average of 12-days.
• At column c, cell 14 write =(B14*(2/(12+1))+C13*(1-(2/(12+1)))). To get
EMA of 12 days.
• At column D, cell 27 write =Average(B2:B27). Press entry and drag to fell
other cell. To get the average of 26-days.
• At the column D, cell 28 write =(B28*(2/(26+1))+D27*(1-(2/(26/1)))). To get
the 26-days EMA.
• At column E, cell 27 write = (C27)-(D27) to get the MACD
3.6 LIMITATIONS OF THE STUDY
The subject of the securities with market index study is vast and it has restricted with
certain limitation in the study, certain limitation cannot be avoided. They are:
• Technical analysis is done based on one year stock price listed on Indian stock
market so it does not give the perfect levels as there is previous price
movement as well.
• The study is limited to time value and price movement of the stock. So it does
not consider any economic factors and industrial impacts.
• The analysis is focused on three sectors.
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• The recommendations made may not be a perfect prediction of the future as
technical analysis is not an absolutely accurate practice.
• Study is limited to 9 stocks.
4. COMPANY PROFILE
About Intime equity limited (formerly known as fortune equity brokers (India)
ltd
Intime Equity Limited limited was incorporated in the year 1991 by MR. j. t. poonja,
chairman and MR .nimish c shah, vice chairman and managing director. Fortune
group which comprises the holding company fortune financial services (India) limited
and its wholly-owned subsidiaries is engaged in providing a range of financial
services right from equities and derivatives trading, equity research, commodities
trading, portfolio management services, distribution of mutual funds, ipo & insurance
products and also investment banking services.
The main activities of the company are conducted through fortune financial services
which is also the holding company & its wholly owned subsidiaries. a brief snapshot
of all the companies is outlined as under.
INTIME EQUITY LIMITED FINANCIAL SERVICES (INDIA) LTD
M/s. Fortune Financial Services (India) ltd. is listed on the Bombay stock exchange
ltd and is sebi registered category i merchant banker. it has recently got approval from
sebi to launch its portfolio management services (pms). ffsil has four business
verticals viz. fortune equity brokers (India) limited, fortune commodities &
derivatives (India) ltd., fortune credit capital ltd. and fortune financial India insurance
brokers limited.
M/s. Intime Equities Limited is 100% subsidiary company of m/s. fortune financial services
(India) ltd. it offers broking services in the cash and future & option segments of the national
stock exchange of India ltd and the Bombay stock exchange limited. it is also a depository
participant of central depository services (India) ltd.
Intime multi commodity company limited
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M/s. Intime Multi Commodity Company Limited is subsidiary company of m/s.
fortune financial services (India) ltd. and engaged in the business of commodities
broking. it having memberships with the mcx and ncdex, two leading indian
commodities exchange.
4.1 HISTORY & MILESTONES
2006
Shareholders of Fortune approved the issuance of bonus shares in the ratio of
1:1Allotment of bonus shares was completed on March 31, 2006Commenced DP
Services
2005
Fortune declared an interim dividend of 10% and final dividend of 5% during FY
2004-2005 after gap of six years due to carry-forward losses Fortune was associated
with ECB/FCCB overseas fund raising for its Indian mid-sized corporate clients in
excess of US$ 250 million Fortune was involved with varied domestic assignments -
follow on issues, buyback program, open offers and IPOs for Indian mid-sized
corporate clients Fortune proposes to increase its capital base by making a bonus issue
during FY 2005-2006 Opened a branch office in Goa Commenced F&O operations on
the National Stock Exchange (NSE)
2004
Fortune empanelled with seventeen institutional clients for its secondary market
business Fortune was appointed as merchant bankers to manage an open offer by
Zircon Traders Ltd. Successfully completed the FCCB issues for Alok Industries
Limited and United Phosphorus Limited raising approximately US$ 110 million
Opened its branch at Hyderabad to promote stock broking activities Fortune's shares
are voluntarily de-listed from Delhi Stock Exchange Subsidiary company started
mutual fund distribution during FY 2003-04
2003
Managed open offers of Gujarat JHM Hotels Ltd., Punjab Chemicals and
Pharmaceuticals Ltd. Fortune's equity shares are voluntarily de-listed from
Ahmedabad Stock Exchange Ltd Fortune empanelled with three institutions for
secondary market business
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2002
Fortune commenced its full fledged broking operation by empanelling with leading
FIs / MFs / Banks Fortune completed a major takeover offer of Noble Explochem
Reserve Bank of India de-registered Fortune as a NBFC Fortune's equity shares are
voluntarily de-listed from Madras Stock Exchange
2001
Fortune completed the private placement of equity shares of Popular Entertainment
Network Limited and clickforcotton.com, India's first cotton exchange portal
Managed few IPOs, take over offers and right issue despite adverse market conditions
Fortune also made a secondary market placement of equity shares for Goldstone
Technologies Ltd., and Mirc Electronics Limited
2000
Acquired Corporate Membership of Bombay Stock Exchange Limited (BSE) In
addition to Investment Banking and Corporate Advisory Services, Fortune launched
its stock broking activities Fortune concluded two major deals involving a FMCG
company and a well know media Company's private placement of equity shares
1999
Fortune Financial became the 1st Indian company to go in for a buyback of its shares,
subsequent to the guidelines for Buyback of shares coming into effect from Jan 1999
Fortune offered to buyback 25% of its paid-up capital of Rs.549 lacs at an offer price
of Rs.10/- each per share as against the average quoted market price of Rs.5.65 per
share. An amount of Rs.114 lacs was reduced from the share capital consequent to the
buyback Successfully completed the second buyback and reduced Rs. 47 lacs from
the share capital Fortune prepaid / repaid all its fixed deposit outstanding along with
interest
1998
Due to a downturn in the market conditions, Fortune's senior management decided to
suspend the NBFC activities effective from April 1998 The fixed deposit scheme of
Fortune was rated "FA" by CRISIL on account of its timely repayment of interest,
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repayment of the principal and the safety of the deposits Fortune stopped accepting /
renewing fixed deposits since April 1998 Fortune declared dividend @15%
1997
In order to broaden its base in consumer finance, Fortune took up office equipment
finance in addition to car financing Fortune extended its focus to External
Commercial Borrowings, private placement of Non-Convertible Debentures and
Preference Shares for mobilizing funds for its corporate clients Opened offices at
Chennai and Chandigargh to promote consumer finance and corporate financing
activities Fortune declared dividend @22%
1996
Fortune launched its consumer finance division with a primary focus on car financing.
Opened offices in Pune and Mangalore Fortune handled 9 Investment Banking
assignments in its capacity as Lead Managers/ Co-Managers/ Advisors aggregating to
Rs.176 crores. This included the issue of Search Chem Industries Limited, a group
company of United Phosphorus Limited Fortune set up its in-house equity research
division with a view to provide equity research to corporate clients and support its
corporate finance and investment banking activities Fortune started accepting fixed
deposits from public. The fixed deposit schemes of the Company is rated "FA" by
CRISIL Besides having a fixed deposit center in Mumbai, Fortune opened centers in
Madras, Bangalore and New Delhi Fortune declared dividend @20%
1995
Authorized Capital of Fortune was increased to Rs.600 lacs Fortune made an Initial
Public Offering (IPO) of 25 lac equity shares of Rs.10/- each at a premium of Rs. 20/-
per share aggregating to Rs.750 lacs. The issue was over subscribed by 2.52 times
Fortune was listed on the Bombay Stock Exchange, Delhi Stock Exchange,
Ahmedabad Stock Exchange and Madras Stock Exchange Fortune opened a branch
office in Bangalore Fortune was associated with 10 issues aggregating to Rs.115
crores as Lead / Co-managers Fortune was involved with underwriting 113 issues for
an aggregate amount of Rs. 26 crores Company received membership of National
Stock Exchange (NSE). Fortune promoted a separate company called Good Fortune
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21. INTIME EQUITIES LIMITED
Advisory Services Pvt. Ltd., to operate this activity and invested Rs.10 lacs towards
share capital Fortune declared dividend @16%
1994
In anticipation of a potential IPO, the name of the Company was changed to Fortune
Financial Services (India) Ltd. Opened an office in New Delhi to increase the scope
of activities Fortune declared dividend @15%
1993
Fortune became a SEBI registered Category - I Merchant Banker Fortune declared
dividend @12.5%
1992
Fortune declared dividend @10%
1991
Mr. J.T. Poonja and Mr. Nimish C. Shah incorporated Fortune Financial Services
(India) Private Limited as a Non-Banking Financial Company (NBFC). Besides core
investment banking and corporate advisory services, Fortune's also focused on fund
based activities such as lease, hire purchase, bill discounting and inter-corporate loans
4.2 VISION, MISSION AND CORE VALUE
VISION
Intime Equities limited aspiration of establishing itself as an integrated financial
services company is propelled by a vision that is shared by the entire work force.
Towards this end Intime Equities limited has dedicated it to:
• Having a single minded focus on investor services
• Establishing Intime Equities limited as a house hold name for financial
services
• Set industrial standards
• Establishing leadership position in all chosen areas of business
• And in the process become a crucial link between industry, finance and people.
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22. INTIME EQUITIES LIMITED
MISSION
Intime Equities limited mission is leading services provider to our customers and aim
to achieve this leadership position by building an innovative, enterprising and
technology driven organization which will set the highest standards of service and
business ethics.
CORE VALUE
At Intime Equities limited adherence to its core values-integrity, Enterprise, and
Innovation has earned it an enviable reputation amongst all the intermediaries and
regulatory authorizes of the capital and financial markets.
The business challenges
• Easily access customer portfolio information in a secure contact center
environment
• Seamlessly integrate with back-end applications and streamline customer data
to centre agents
• Easily manage upgrades and technology issues to accommodate growing
customer base.
MANAGE BUSINESS GROWTH
With a customer base of more than 2,60,000, Intime Equities limited continues to
grow at a fast pace. The company required reliable contact technology that could
handle its growing customer base and expanding service portfolio. Downtime in the
contact center, even for a short period of time, was unacceptable as it could result in
financial losses and more importantly, a decrease in customer loyalty. As a result,
customer satisfaction was a top priority in Intime Equities limited agenda. Its primary
objectives were to help and support its customers in managing their shares portfolio in
the best possible manner.
QUALITY POLICY
• To achieve and retain leadership, Intime Equities limited shall aim for
complete customer satisfaction, by combining its human and technological
resources, to provide superior quality financial services.
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23. INTIME EQUITIES LIMITED
• In the process, Intime Equities limited will strive to exceed customer’s
expectations. Quality objectives As per the Quality Policy Intime Equities
limited will:
• Build in-house processes that will ensure transparent and harmonious
relationships with its clients and investors to provide high quality of service.
• Establish a partner relationship with its investor service agent and vendors that
will help.
4.3 ORGANIZATION STRUCTURE
KEY PERSONS:BRANCH HEAD:- Chintan valia.
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OPERATIONS
DIVISION
SUPPORT
FUNCTION
BRANCHES ISO CELL
BROKING
FPO
RIS
DP
ACCOUNTS
SYSTEM
HRD
ADMN. PURCHASE STORE
SUPPORT
FUNCTIONS
OPERATIONS DIVISIONS
HEAD OFFICE
REGIONAL HEAD
QUARTERS
24. INTIME EQUITIES LIMITED
Work flow model (End to End)
(Producer buying and selling of equities futures at Intime Equities limited)
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Clients
Customer Support
Status
Order placement through
computer terminals
Online computer
Order sent for execution at
Order Executed
Order pendingOrder Executed
Order Executed
25. INTIME EQUITIES LIMITED
4.4 PRODUCT/SERVICE PROFILE
• Equity Broking
• Commodities Broking
• Internet Broking
• Depository Service
• Insurance Broking
• Investment Banking
• Currency Derivatives
• Mutual Fund
• IPO
4.5 AREA OF OPERATION
Intime equity limited (formerly known as fortune equity brokers (india) ltd. Provide
services include trade execution on BSE, NSE ,Derivatives, Commodities, Depository
services online trading and investment advice trade is available in BSE and NSE.
Intime equity limited has one of the best state of art web portal providing fundamental
and statistical information across equity, mutual funds and IPOs. You can surf across
5500 companies for in depth information details about more than 1500 mutual fund
schemes and IPO data. You can also access other market related details such as board
meeting result announcement. And buying and selling of mutual funds and much
more.
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26. INTIME EQUITIES LIMITED
4.6 BUSINESS PRACTICE
FRONT OFFICE
In front of office the following services are done.
• Account opening
• Holding enquiries
• Transfer of physical shares to demat form
• Transfer of demat shares to physical form
• Transformations of shares from demat to trading account etc.
BACK OFFICE
• Maintenance of all demit account with KCL
• Giving intimation related to the due of AMC’s to heir account holders
• Sends quarterly information to the holders related to the holdings
MARKETING
In this department where the demat account is marketed, marketing executives seek
for prospective customers, they help in opening of an account and also these
executives collect AMCs and provide other door to door services.
Here all the records of investors are to maintain and kept confidentially and identifies
the customer’s requirements and the department members try to fulfill their needs.
• TIN. Tax information network services, this is recently introduced by the RIS
department in this service, Intime Equities limited tries to give the services
regarding taxation like
• PAN opening
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27. INTIME EQUITIES LIMITED
• TDS return(filling) quarterly, yearly
ADVISORY SERVICES
This is the main function done by the ris department kcl give every financial advisory
services to investors for ex: portfolio management, equity tips, tax planning etc
ACCOUNTS
• Maintaining the purchases/ stores departments
• Internal auditing
• Payments and receipts
TECHNOLOGY DEPARTMENT
Intime Equities limited has been successful in keeping IT investments under control,
and helping in keeping these spends aligned with Intime Equities limited business
goals. He runs a team with 50 people on board. Intime Equities limited retains its
focus on providing reliable, secure and fast trading service.
Inside the jungle Intime Equities limited operates through online and offline (Intime
Equities limited) channels. The online structure forms the most integral point for
business and transactions. The online component is made up of a convential portal, a
chat facility and few ‘speed trade’ terminals.
With the ‘speed trade’ channel, customers gain a better and more efficient platform
for transactions. It has a terminal at the user end, connected to Intime Equities limited
system through a TCP/IP link. When a Web trade request is made, it travels via
HTTP/HTTPS.
But with this speed trade transaction, the transfer of information is directly with the
trading system and is entirely live, Intime Equities limited uses 128-bit SSL
encryption technology by verisign and can also operate on cable connections, GPRS
and dial up. The offline model is more personalized in the sense that it provides the
customer the opportunity to interact with a human voice through the IVR or a team of
customer service executives over the telephone.
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28. INTIME EQUITIES LIMITED
4.7 CURRENT STATUS
The total income during the year 2013-14 stood at Rs. 828.65 lakhs as against Rs.
247.76 lakhs during the previous year. The company has incurred a loss of Rs. 4.47
lakhs as compared to a loss of Rs. 419.49 lakhs in the previous year. The loss after tax
stood at Rs. 24.06 lakhs as against a loss of Rs. 403.12 lakhs in the previous year.
During the year the total income increased considerably and also the losses have
been reduced to a substantial extent as against those in the previous year.
The consolidated income during the year 2013-14 stood at Rs.6,101.48 lakhs as
against Rs.6,289.02 lakhs during the previous year. The consolidated income has
been marginally reduced as compared to that of the previous year. During the year
under review, the company has on consolidated basis incurred a loss of Rs. 124.21
lakhs after tax as against a loss of Rs 1,261.87 lakhs in the previous year. The
consolidated loss after tax has been substantially reduced as compared to that of the
previous year.
4.6 FUTURE PLANS
• To expand the business in the upcoming years.
• To provide good dividend to the client.
4.7 AWARDS AND ACHIEVEMENTS
They don’t have no awards and achievements
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29. INTIME EQUITIES LIMITED
4.10 SWOT ANALYSIS
STRENGTHS
• Provides advice regarding the suitability or profitability of a scrip or
investment or any other tax or legal advice it may add on from time to time
which in turn build a strong relation with the investors.
• Emerging as a leading merchant banking leveraging on the strength in stock
broking distribution and research.
• Having strong and talent able execution team.
• Providing efficient depository participants services to its clients.
WEAKNESSES
• Relatively high account opening charge.
• Do not provide facility to book limit order trades during after hours .
• High risk exposure as seen by conservative population.
• Less emphasis and advertising cause lack of brand visibility.
OPPORTUNITIES
• Huge and vast untapped market.
• Increasing industry size.
• High income urban families.
• More penetration into the growing cities.
THREATS
• There are many competitors entering into the segment.
• Low brokerages and low A/C opening charges in the other security offerings.
• Entry of foreign firms in Indian market.
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30. INTIME EQUITIES LIMITED
5.1 DATA ANALYSIS AND INTERPRETATION
1. BANKING SECTORS
1. State Bank of India
1. Exponential Moving Average:- For the period 1st
January 2014 to 9th
March 2015
Smoothing
constant
DATE OPEN CLOSE 26-day
SMA
2/(26+1) EMA
23/06/201
4
258.40 263.90 198.25 198.25
30/06/201
4
265.00 269.81 202.01 0.07 203.55
07/07/201
4
269.71 256.25 205.68 0.07 207.45
14/07/201
4
242.00 256.25 209.30 0.07 211.07
21/07/201
4
256.10 250.06 212.68 0.07 213.95
28/07/201
4
250.52 243.72 216.19 0.07 216.16
04/08/201
4
245.30 241.80 219.62 0.07 218.06
11/08/201
4
243.00 236.25 223.03 0.07 219.41
18/08/201
4
236 252.47 226.96 0.07 221.85
25/08/201
4
253.00 246.07 230.53 0.07 223.65
01/09/201
4
247.70 251.58 233.86 0.07 225.72
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32. INTIME EQUITIES LIMITED
02/03/015 305.90 315.00 289.46 0.07 289.72
09/03/201
5
292.00 286.85 290.78 0.07 289.51
1.Graph:- State Bank of India
INTERPRETATION
The above graph show that the SBI stock is growing in bullish trend.The
data collected of One year as calculated by simple moving avrage as well as
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving average stock of SBI is slightly increasing.It is giving
a clear picture of uptrend price future movement of 350.
The SBI stock have strong support level is 256 and restent level is 276. This
resistance break out the stock price will go up to Rs350 to 375.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
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35. INTIME EQUITIES LIMITED
The above graph show that the HDFC Bank is growing in bullish trend.The
data collected of one year as calculated by simple moving avrage as well as
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving average stock of HDFC Bank is slightly increasing.It
is giving a clear picture of uptrend price future movement of 933.509
The HDFC Bank have strong support level is 810.123 and restent level is 859.677.
This resistance break out the stock price will go up to Rs980 to1000.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
3. ICICI Bank
3. Exponential Moving Average:-For the period 1January2014 to 9March2015
Smoothing
constant
DATE OPEN CLOSE 26-day
SMA
2/(26+1) EMA
23/06/201
4
280.00 276.93 244.13 244.13
30/06/201
4
278.40 292.57 247.17 0.07 247.72
07/07/201
4
293.78 271.32 249.73 0.07 249.46
14/07/201
4
274.98 296.09 253.16 0.07 252.92
21/07/201
4
297.60 295.13 256.37 0.07 256.04
28/07/201 296.80 295.13 260.12 0.07 258.94
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37. INTIME EQUITIES LIMITED
5
26/01/201
5
370.70 360.70 328.19 0.07 329.79
02/02/201
5
360.30 329.35 329.80 0.07 329.76
09/02/201
5
327.50 343.85 331.64 0.07 330.80
16/02/201
5
346.95 330.95 332.53 0.07 330.81
23/02/201
5
333.00 335.25 333.45 0.07 331.14
02/03/201
5
350.85 347.75 334.92 0.07 332.37
09/03/201
5
342.00 330.20 335.59 0.07 332.21
3.Graph:- ICICI Bank
INTERPRETATION
The above graph shows that the ICICI Bank is growing in bullish trend for the
data collected of one year is calculate by simple moving average as well as
exponential moving average method the above graph point that the moving average
and exponential moving average of ICICI bank price is decreasing it is giving a clear
picture of downwards trends future movement. It indicates a massage to investors to
sell the stock
The ICICI Bank have a strong support level is 298.66 and resistance level is 322.96.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
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40. INTIME EQUITIES LIMITED
INTERPRETATION
The above graph show that the BHEL(Bharat Heavy Electricals) is
growing in bullish trend.The data collected of one year as calculated by simple
moving avrage as well as Exponential Moving Average method the abouve graph
points that the movining avrage and exponential moving average stock of
BHEL(Bharat Heavy Electricals) is slightly increasing.It is giving a clear picture of
uptrend price future movement of 249.87
The BHEL (Bharat Heavy Electricals)have strong support level is 216.65 and restent
level is 237.04. This resistance break out the stock price will go up to Rs265 to 280.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
5. Larsen and Toubro:-
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42. INTIME EQUITIES LIMITED
4
15/12/201
4
1500.000 1535.150 1569.500 0.069 1521.313
22/12/201
4
1538.000 1490.200 1563.433 0.069 1519.008
29/12/201
4
1495.150 1534.650 1558.331 0.069 1520.167
05/01/201
5
1545.350 1500.250 1549.006 0.069 1518.692
12/01/201
5
1503.900 1591.750 1549.675 0.069 1524.103
19/01/201
5
1603.000 1711.300 1550.629 0.069 1537.970
26/01/201
5
1711.300 1700.550 1560.542 0.069 1550.013
02/02/201
5
1696.000 1683.550 1568.806 0.069 1559.904
09/02/201
5
1663.300 1662.150 1575.654 0.069 1567.478
16/02/201
5
1665.000 1677.600 1580.946 0.069 1575.635
23/02/201
5
1686.450 1758.950 1589.887 0.069 1589.214
02/03/201
5
1782.000 1826.050 1598.096 0.069 1606.758
09/03/201
5
1817.200 1692.150 1602.460 0.069 1613.083
5.Graph: Larsen and Toubro
INTERPRETATION
The above graph show that the Larsen and Toubro is growing in bullish
trend.The data collected of 1year as calculated by simple moving avrage as well as
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43. INTIME EQUITIES LIMITED
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving
average stock of Larsen and Toubro is slightly increasing.It is giving a clear picture of
uptrend price future movement of 1585.841
The Larsen and Toubro have strong support level is 1500.250 and restent level is
1578.370. This resistance break out the stock price will go up to Rs1595to1600.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
6.Adani Ports and Special Economic Zone
6. Exponential Moving Average:- For the period 1January2014 to 9March2015
Smoothing
constant
DATE OPEN CLOSE 26-day SMA 2/(26+1) EMA
23/06/201
4
234.450 231.500 188.292 188.292
30/06/201
4
233.000 275.150 193.102 0.069 194.726
07/07/201
4
277.800 249.250 196.990 0.069 198.765
14/07/201
4
249.900 287.750 202.335 0.069 205.356
21/07/201
4
290.000 268.250 207.085 0.069 210.015
28/7/2014 268.400 259.100 211.413 0.069 213.651
04/08/201
4
261.850 262.050 215.810 0.069 217.236
11/08/201 266.550 272.400 220.633 0.069 221.322
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45. INTIME EQUITIES LIMITED
09/02/201
5
298.000 335.500 295.769 0.069 294.435
17/02/201
5
336.050 329.250 296.998 0.069 297.013
23/02/201
5
331.400 345.900 299.423 0.069 300.635
02/03/201
5
330.200 332.500 301.079 0.069 302.995
09/03/201
5
332.400 306.700 301.592 0.069 303.270
6.Graph:- Adani Ports and Special Economic Zone
INTERPRETATION
The above graph show that the Adani Ports and Special Economic Zone is
growing in bullish trend.The data collected of 1year as calculated by simple moving
avrage as well as
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving average stock of Adani Ports and Special Economic
Zone is slightly increasing.It is giving a clear picture of uptrend price future
movement of 298.755
The Adani Ports and Special Economic Zone have strong support level is 262.903 and
restent level is 275.837. This resistance break out the stock price will go up to
Rs320to350
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
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47. INTIME EQUITIES LIMITED
29/12/2014 70.650 69.040 66.807 0.069 67.297
05/01/2015 68.940 68.600 66.772 0.069 67.394
12/01/2015 68.600 69.170 66.782 0.069 67.526
20/01/2015 69.040 67.140 66.765 0.069 67.497
26/01/2015 66.960 67.520 66.902 0.069 67.499
02/02/2015 67.360 69.300 67.060 0.069 67.632
09/02/2015 69.130 70.080 67.289 0.069 67.813
17/02/2015 70.000 70.240 67.507 0.069 67.993
23/02/2015 71.010 70.820 67.742 0.069 68.203
02/03/2015 70.820 69.250 67.910 0.069 68.280
09/03/2015 69.120 68.460 68.063 0.069 68.293
7.Graph:- Colgate-Palmolive co.(CL)
INTERPRETATION
The above graph show that the Colgate-Palmolive co.(CL) is growing in
bearish trend.The data collected of one year as calculated by simple moving avrage as
well as Exponential Moving Average method the abouve graph points that the
movining avrage and exponential moving average stock of Colgate-Palmolive co.(CL)
is slightly increasing.It is giving a clear picture of uptrend price future movement of
67.821
The have strong support level is 66.92 and restent level is 66.388. This resistance
break out the stock price will go up 70 to 75
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend. The line of the exponential moving
average is cuting the line of the close which clear indicates that the future moviment
of the stock well full.
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50. INTIME EQUITIES LIMITED
INTERPRETATION
The above graph show that the ITC holding corporation (ITC) is growing
in bearish trend and the chart also showes that the stock is moving in trading zon. The
data collected of one year as calculated by simple moving avrage as well as
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving average stock of ITC holding corporation (ITC) is
slightly increasing.It is giving a clear picture of downtrend price future movement of
361.84
The ITC holding corporation (ITC) have strong support level is 338.650 and restent
level is 353.25. This resistance break out the stock price will go up to Rs380to400.
The line of the exponential moving average is crossing the closing price line which
means that the price of the stock well fall in the future.
The line of the exponential moving average is going to uptraind . A rising of the of
moving average reflecting a long-term uptrend.
9. Procter and Gamble CO
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52. INTIME EQUITIES LIMITED
01/12/201
4
90.170 90.380 83.678 0.069 84.759
08/12/201
4
90.340 89.550 84.059 0.069 85.114
15/12/201
4
89.700 92.050 84.525 0.069 85.627
22/12/201
4
92.100 93.460 85.081 0.069 86.208
29/12/201
4
93.120 90.440 85.483 0.069 86.521
05/01/201
5
90.230 90.250 85.833 0.069 86.797
12/01/201
5
90.480 91.250 86.244 0.069 87.127
20/01/201
5
91.250 90.080 86.649 0.069 87.346
26/01/201
5
89.950 84.290 86.827 0.069 87.119
02/02/201
5
84.580 85.610 86.975 0.069 87.008
09/02/201
5
85.310 85.900 87.165 0.069 86.926
17/02/201
5
86.060 84.870 87.222 0.069 86.773
23/02/201
5
84.960 85.130 87.300 0.069 86.652
02/03/201
5
85.130 82.660 87.257 0.069 86.356
09/03/201
5
82.790 81.830 87.202 0.069 86.021
9.Graph:- Procter and Gamble CO
INTERPRETATION
The above graph show that the Procter and Gamble CO is growing in bearish
trend.The data collected of one year as calculated by simple moving avrage as well as
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53. INTIME EQUITIES LIMITED
Exponential Moving Average method the abouve graph points that the movining
avrage and exponential moving average stock of Procter and Gamble CO is slightly
increasing.It is giving a clear picture of uptrend price future movement of 86.98
The Procter and Gamble CO have strong support level is 83.27 and restent level is
80.729. This resistance break out the stock price will go up to Rs90 to 95
The line of the exponential moving average is falling . A falling of the of moving
average reflecting a long-term downtrend.
10.BANKING SECTORS
10. State Bank of India
Relative Strength index :- For the period 1January2014 to 9March2015
AVG
GAIN
AVG
LOSS
RS 30-
DAYS
DATE CLOSE CHANGE GAIN LOSS
30DAYS
30DAYS RSI
28/07/2014 244 -6 0 6.335 5.484 3.092 1.774 63.945
04/08/2014 242 -2 0 1.925 5.484 2.785 1.969 66.323
11/08/2014 236 -6 0 5.545 5.439 2.969 1.832 64.687
18/08/2014 252 16 16.22 0 5.980 2.968 2.015 66.829
25/08/2014 246 -6 0 6.4 5.980 2.857 2.093 67.669
01/09/2014 252 6 5.505 0 6.151 2.857 2.153 68.283
08/09/2014 253 1 0.985 0 6.184 2.682 2.306 69.748
15/09/2014 257 4 4.24 0 6.235 2.682 2.325 69.923
22/09/2014 245 -12 0 12.275 6.131 3.091 1.983 66.482
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54. INTIME EQUITIES LIMITED
29/09/2014 242 -2 0 2.19 5.743 3.164 1.815 64.477
06/10/2014 245 3 2.855 0 5.823 3.164 1.840 64.794
13/10/2014 252 7 6.81 0 5.890 3.164 1.862 65.054
20/10/2014 257 5 5 0 5.391 3.164 1.704 63.015
27/10/2014 270 13 13.28 0 5.831 3.164 1.843 64.823
03/11/2014 274 4 3.97 0 5.659 3.164 1.788 64.137
10/11/2014 279 5 4.54 0 5.733 3.164 1.812 64.436
17/11/2014 306 27 26.71 0 6.397 3.164 2.022 66.905
24/11/2014 321 16 15.9 0 6.927 3.041 2.278 69.494
01/12/2014 318 -4 0 3.85 6.510 3.169 2.054 67.258
08/12/2014 311 -6 0 6.2 5.697 3.376 1.688 62.792
15/12/2014 304 -7 0 7.2 4.576 3.616 1.266 55.860
22/12/2014 308 4 3.5 0 4.692 2.912 1.612 61.710
29/12/2014 315 8 7.6 0 4.287 2.912 1.472 59.555
05/01/2015 303 -12 0 12.05 4.287 2.874 1.492 59.871
12/01/2015 315 12 12.25 0 4.696 2.791 1.682 62.721
19/01/2014 327 12 12 0 4.909 2.791 1.759 63.756
26/01/2015 309 -19 0 18.5 4.712 3.408 1.383 58.034
02/02/2015 290 -19 0 18.65 4.712 3.577 1.317 56.846
09/02/2015 307 17 16.65 0 5.267 3.577 1.472 59.554
16/02/2015 302 -5 0 4.65 5.267 3.526 1.494 59.903
23/02/2015 300 -2 0 2.4 5.267 3.395 1.552 60.810
2/03/015 315 15 15.1 0 5.771 3.330 1.733 63.406
09/03/2015 287 -28 0 28.15 5.771 4.084 1.413 58.558
10.Graph: State Bank of India
INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 19th
January 2015 and 2nd
March
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22/12/2015 948.65 7.2 7.2 0 10.163 4.967 2.046 67.173
29/12/2014 965.3 16.65 16.65 0 9.968 4.967 2.007 66.745
05/01/2015 975.65 10.35 10.35 0 9.642 4.967 1.941 66.001
12/01/2015 1001.35 25.7 25.7 0 10.498 4.518 2.323 69.911
19/01/2015 1042.8 41.45 41.45 0 11.880 4.327 2.746 73.303
26/01/2015 1077.35 34.55 34.55 0 11.683 4.327 2.700 72.975
02/02/2015 1093 15.65 15.65 0 12.205 2.832 4.310 81.168
09/02/2015 1065.8 -27.2 0 27.2 11.517 3.738 3.081 75.494
23/02/2015 1054 -11.8 0 11.8 11.415 4.132 2.763 73.424
2/3/2015 1085.1 31.1 31.1 0 12.452 3.463 3.595 78.239
09/03/2015 1042.65 -42.45 0 42.45 12.452 4.235 2.940 74.620
11.Graph:- HDFC Bank
INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 2nd
February 2015 and 2nd
March
2015 shows the sell signal. In the month of 8th
December 2014 and in the month of
23rd
February 2015 it indicates the buying signal.
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12.Graph:- ICICI BANK
INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 19th
January 2015and 2nd
February
2015 shows the sell signal. In the month of 8th
December 2014 and in the month of
16th
February 2015 it indicates the buying signal.
13. INFRASTRUCTURE SECTORS
13.BHEL(Bharat Heavy Electricals).
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INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 2nd
February 2015 and 2nd
March
2015 shows the sell signal. In the month of 22nd
December 2014 and in the month of
9th
February 2015 it indicates the buying signal.
14. Larsen and Toubro:-
Relative Strength Index:- For the period 1January2014 to 9March2015
AVG
GAIN
AVG
LOSS
RS 30-
DAYS
DATE CLOSE CHANGE GAIN LOSS 30DAYS 30DAYS RSI
04/08/2014 1468.7 25.9 25.9 0 38.510 23.288 1.654 62.316
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INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 9th
February2015and 2nd
March2015
shows the sell signal. In the month of 5January2015and in the month of 16th
February
2015 it indicates the buying signal.
15. ADANI PORTS AND SPECIAL ECONOMIC ZONE:
Relative Strength Index:- For the period 1January2014 to 9March2015
DATE CLOSE CHANGE GAIN LOSS AVG
GAIN
AVG
LOSS
RS 30-
DAYS
28/7/2014 259.1 -9.15 0 9.15 7.458 3.825 1.950 66.100
04/08/2014 262.05 2.95 2.95 0 7.557 3.760 2.010 66.775
11/08/2014 272.4 10.35 10.35 0 7.880 3.760 2.096 67.698
18/08/2014 297.3 24.9 24.9 0 8.710 3.625 2.403 70.612
25/8/2014 282.85 -14.45 0 14.45 8.650 4.107 2.106 67.808
02/09/2014 289.45 6.6 6.6 0 8.830 4.107 2.150 68.256
08/09/2014 293.35 3.9 3.9 0 8.960 4.082 2.195 68.703
15/09/2014 284.6 -8.75 0 8.75 8.303 4.373 1.899 65.501
22/09/2014 279.1 -5.5 0 5.5 8.285 4.557 1.818 64.517
29/09/2014 274.6 -4.5 0 4.5 7.630 4.707 1.621 61.848
06/10/2014 258.75 -15.85 0 15.85 7.630 5.110 1.493 59.890
13/10/2014 250.2 -8.55 0 8.55 7.630 5.338 1.429 58.836
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20/10/2014 268.15 17.95 17.95 0 8.077 5.338 1.513 60.206
27/10/2014 284.55 16.4 16.4 0 8.623 5.137 1.679 62.670
03/11/2014 292.8 8.25 8.25 0 8.442 5.137 1.643 62.170
10/11/2014 297.25 4.45 4.45 0 8.437 5.137 1.642 62.156
17/11/2014 302.45 5.2 5.2 0 8.595 5.137 1.673 62.593
24/11/2014 290.3 -12.15 0 12.15 8.595 5.122 1.678 62.661
01/12/2014 284.55 -5.75 0 5.75 7.978 5.313 1.502 60.025
08/12/2014 277.85 -6.7 0 6.7 7.310 5.537 1.320 56.902
15/12/2014 289.1 11.25 11.25 0 7.592 5.537 1.371 57.827
22/12/2014 288.55 -0.55 0 0.55 7.592 5.502 1.380 57.981
29/12/2014 320 31.45 31.45 0 7.583 5.502 1.378 57.954
05/01/2015 331.15 11.15 11.15 0 7.955 4.602 1.729 63.353
12/01/2015 330.95 -0.2 0 0.2 7.898 4.608 1.714 63.153
20/01/2015 346.05 15.1 15.1 0 8.402 4.583 1.833 64.703
26/01/2015 340.5 -5.55 0 5.55 6.947 4.768 1.457 59.297
02/02/2015 300.1 -40.4 0 40.4 6.947 5.252 1.323 56.948
09/02/2015 335.5 35.4 35.4 0 6.843 5.252 1.303 56.580
17/02/2015 329.25 -6.25 0 6.25 6.843 4.810 1.423 58.724
23/02/2015 345.9 16.65 16.65 0 7.398 4.505 1.642 62.153
02/03/2015 332.5 -13.4 0 13.4 7.300 4.952 1.474 59.584
09/03/2015 306.7 -25.8 0 25.8 6.955 5.812 1.197 54.478
15.Graph:- Adani Ports and Special Economic Zone:
INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 20th
January2015 and 23rd
February2015 shows the sell signal. In the month of 15th
December2014 and in the
month of 17th
February2015it indicates the buying signal.
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23/02/2014 393.7 -2.35 0 2.35 5.052 3.580 1.411 58.525
02/03/2015 346.25 -47.45 0 47.45 5.052 5.128 0.985 49.623
09/03/2015 339.4 -6.85 0 6.85 4.775 5.357 0.891 47.129
17. Graph:- ITC holdings corp.(ITC)
INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 1st
December2014 and 23rd
February2015 shows the sell signal. In the month of 20th
October2014 and in the
month of 2nd
February2015 it indicates the buying signal.
18. Procter and Gamble co:
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INTERPRETATION
When the RSI has crossed the 30 line from below to above and is rising, a buying
opportunity is indicated. When it has crossed the 70 line from above to below and is
falling, a sell signal is indicated. In the month of 22nd
December2014 and 23rd
February2015 shows the sell signal. In the month of 10th
November2014 and in the
month of 26th
January2015 it indicates the buying signal
19. BANKING SECTORS:
19. State Bank of India
Moving average, convergence and divergence.(MACD):-
For the period 1January2014 to 9March2015
DATE CLOSE 12 Day 26 Day MACD
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INTERPRETATION
At the end of 13th
october2014 the SBI stocks had a bull phase as shown. and 1st
December2014 it indicates the selling signal to the investors. It shows the buying
signal in the month of 16th
Februray2015
20.HDFC Bank
Moving average, convergence and divergence.(MACD) :-
For the period 1January2014 to 9March2015
DATE CLOSE 12 Day
EMA
26 Day
EMA
MACD
23/06/2014 816.2 782.809 725.817 56.991
30/6/2014 856.65 794.169 735.509 58.660
07/07/2014 811.8 796.881 741.160 55.721
14/07/2014 832.45 802.353 747.922 54.431
21/07/2014 835.5 807.453 754.409 53.044
28/07/2014 815.45 808.683 758.931 49.752
04/08/2014 796.15 806.755 761.688 45.067
11/08/2014 826.7 809.823 766.504 43.320
18/08/2014 846.75 815.504 772.448 43.057
25/08/2014 843.55 819.819 777.715 42.105
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At the end of 1st
Decembe2014 HDFC stocks had a bull phase as shown. and 23rd
Februray2015 it indicates the selling signal to the investors. It shows the buying signal
in the month of 13th
october 2014 and 15th
December 2014
21.ICICI Bank
Moving average, convergence and divergence.(MACD):-
For the period 1January2014 to 9March2015
DATE CLOSE 12 Day
EMA
26 Day
EMA
MACD
23/06/2014 276.93 272.015 244.128 27.887
30/06/2014 292.57 275.177 247.020 28.157
07/07/2014 271.32 274.584 248.117 26.467
14/07/2014 296.09 277.893 250.963 26.929
21/07/2014 295.13 280.545 253.520 27.025
28/07/2014 295.13 282.788 255.880 26.909
04/08/2014 287.43 283.503 257.488 26.015
11/08/2014 295.93 285.414 259.602 25.813
18/08/2014 307.91 288.875 262.441 26.435
25/08/2014 311.36 292.334 265.317 27.018
01/09/2014 309.41 294.961 267.827 27.135
08/09/2014 312.88 297.718 270.401 27.317
15/09/2014 314.44 300.291 272.893 27.398
22/09/2014 295.59 299.568 273.797 25.771
29/09/2015 285.77 297.445 273.904 23.541
06/10/2014 291.79 296.575 274.448 22.127
13/10/2014 301.04 297.262 275.636 21.626
20/10/2014 314.2 299.868 277.707 22.160
27/10/2014 325.33 303.785 280.444 23.341
03/11/2014 336.94 308.886 283.830 25.056
10/11/2014 338.46 313.436 287.068 26.368
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