A STUDY ON TECHNICAL ANALYSIS ON MAJOR

COMPANIES IN OIL INDUSTRY WITH SPECIAL REFERNCE TO JRG SECURITIES - CHENNAI PROJECT REPORT
Submitted by

R.AVINASH REG.NO.07BA141

Under the guidance of

MR. K. SAMPATH KUMAR LECTURER Karunya School of Management

Submitted in partial fulfillment of the requirements For the award of the degree of MASTER OF BUSINESS ADMINISTRATION Of Karunya University

2007-2009 SCHOOL OF MANAGEMENT KARUNYA UNIVERSITY APRIL 2009

SCHOOL OF MANAGEMENT

KARUNYA UNIVERSITY

CERTIFICATE

This is to certify that the project entitled, A STUDY ON TECHNICAL ANALYSIS ON MAJOR COMPANIES IN OIL INDUSTRY WITH SPECIAL REFERNCE TO JRG SECURITIES- CHENNAI is a bonafide work done by Mr. R. Avinash, Register No. 07BA141 and is submitted in partial fulfillment of the requirements for the degree of Master of Business Administration of Karunya University.

J. Russell Peter
(Director)

K. Sampath Kumar
(Guide)

Place: Date: Viva-Voce Examination held on

.. Internal Examiner

. External Examiner

DECLARATION
I hereby declare that the project work entitled A STUDY ON TECHNICAL ANALYSIS ON MAJOR COMPANIES IN OIL INDUSTRY WITH SPECIAL REFERNCE TO JRG SECURITIESCHENNAI submitted in partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION, is a record of original work done by me under the supervision and guidance of K.SAMPATH KUMAR, School of Management, Karunya University, Coimbatore. This project work has not formed the basis for the award of any Degree/Diploma/ Associate ship /Fellowship of similar titles to any candidate of any university.

I also declare that this project is the result of my own effort.

Place: Date:

Signature of the student . (R. Avinash)

ACKNOWLEDGEMENT

I give all glory, honor and praise to my LORD and Savior JESUS CHRIST for the gracious and amazing ways in which he has helped me and strengthen me at every little step of this project work. I would like to thank God for helping me and pave the way in front towards my career, without his help I wouldnt have been where I am today. I express my gratefulness to K. Sampath Kumar, Lecturer of Karunya School of Management for his immense support for this project, for his valuable guidance for the successful completion of the project report. Finally, I take this opportunity to express my love and gratitude to my beloved parents and my friends for this immense help and constant prayers and encouragement throughout this Endeavour. Also I am thankful to Mr. Varghese K and Mr. G. Murthy for helping me completing my project work and lending there valuable time.

List of Contents

Particulars
Title Page Certificate Declaration Acknowledgement Table of Contents List of Tables List of Figures CHAPTER 1 1.0 Introduction 1.1 Company Profile 1.2 Review of Literature 1.3 Importance of the Study 1.4 Scope of the Study 1.5 Objective of the study 1.6 Limitations of the Study 1.7 Chapter Scheme

Page No.

1 2 5 6 7 8 8 9

CHAPTER 2 2.0 Research Methodology 2.1 Research Design 2.2 Method of Data Collection CHAPTER 3 3.0 Data Analysis and Interpretations 3.1 Technical Analysis 3.2 Types of Charts 3.3 Dow Theory 3.4 Elliot Wave Theory 3.5 Tools for Analysis 3.6 Analysis & Interpretation CHAPTER 4 4.1 Findings 4.2 Suggestions 4.3 Conclusion BIBLIOGRAPHY APPENDIX 87 89 90 11 16 21 25 35 52 10 10

List of Tables

Title

Page No.

3.6.1 Opinion regarding the selling or buying of Scrips of RPL from 01-06-2008 to 31-06-2008

52

3.6.2 Opinion regarding the selling or buying of Scrips of ONGC from 01-06-2008 to 31-06-2008

59

3.6.3 Opinion regarding the selling or buying of Scrips of IOC from 01-06-2008 to 31-06-2008

66

3.6.4 Opinion regarding the selling or buying of Scrips of HIND PETRO from 01-06-2008 to 31-062008

73

3.6.5 Opinion regarding the selling or buying of Scrips of BPCL from 01-06-2008 to 31-06-2008

80

List of Figures
Title
Opinion regarding the selling or buying of Scrips of RPL from 01-06-2008 to 31-06-2008 3.6.1.1 Forecasting future price trends of stocks using Exponential Moving Average Method 3.6.1.2 Forecasting future price trends of stocks using MACD 3.6.1.3 Forecasting future price trends of stocks using Relative Strength Index 3.6.1.4 Forecasting future price trends of stocks using Rate of Change 3.6.1.5 Forecasting future price trends of stocks using Stochastic Opinion regarding the selling or buying of Scrips of ONGC from 01-06-2008 to 31-06-2008 3.6.2.1 Forecasting future price trends of stocks using Exponential Moving Average Method 3.6.2.2 Forecasting future price trends of stocks using MACD 3.6.2.3 Forecasting future price trends of stocks using Relative Strength Index 3.6.2.4 Forecasting future price trends of stocks using Rate of Change 3.6.2.5 Forecasting future price trends of stocks using Stochastic Opinion regarding the selling or buying of Scrips of IOC from 01-06-2008 to 31-06-2008 3.6.3.1 Forecasting future price trends of stocks using Exponential Moving Average Method 3.6.3.2 Forecasting future price trends of stocks using MACD 3.6.3.3 Forecasting future price trends of stocks using Relative Strength Index 3.6.3.4 Forecasting future price trends of stocks using Rate of Change 3.6.3.5 Forecasting future price trends of stocks using Stochastic Opinion regarding the selling or buying of Scrips of HIND PETRO from 01-06-2008 to 31-06-2008

Page No.

54 55 56 57 58

61 62 63 64 65

68 69 70 71 72

 3.6.4.1 Forecasting future price trends of stocks using Exponential Moving Average Method 3.6.4.2 Forecasting future price trends of stocks using MACD 3.6.4.3 Forecasting future price trends of stocks using Relative Strength Index 3.6.4.4 Forecasting future price trends of stocks using Rate of Change 3.6.4.5 Forecasting future price trends of stocks using Stochastic Opinion regarding the selling or buying of Scrips of BPCL from 01-06-2008 to 31-06-2008 3.6.5.1 Forecasting future price trends of stocks using Exponential Moving Average Method 3.6.5.2 Forecasting future price trends of stocks using MACD 3.6.5.3 Forecasting future price trends of stocks using Relative Strength Index 3.6.5.4 Forecasting future price trends of stocks using Rate of Change 3.6.5.5 Forecasting future price trends of stocks using Stochastic

75 76 77 78 79

82 83 84 85 86