Data Analysis

Technical Analysis of BSE Sensex Companys
Introduction:
Financial theorists define stock price at the present value of all future earnings
expectation of the company.
n the present economic scenario! the ndian industry is gro"ing fast and the income
levels of the people are also increasing. #hen people saved more money! they "ill invest in
stock market expecting to earn more return "ith less risk. $nce investors interested in
investing! they look for companies "hich give higher return in the future. There are t"o
approaches for forecasting of future prices of shares. They are% fundamental analysis and
technical analysis.
A stock exchange is an organi&ed place or market "here listed securities are
traded. n '()* the Bom+ay Stock Exchange o+tained recognition from the ,overnment of
ndia% under the Securities Contracts -.egulation/ Act '()*. The 01 stock sensitive index or
Sensex "as first compiled in '(2*. The Sensex is compiled +ased on the performance of the
stocks of 01 financially sound +enchmark companies
.
Technical analysts mainly study the stock price movements of the security market. f
there is an uptrend in the price movement investor may purchase the scrip. #ith the onset of
fall in price he may sell it and move from the scrip. Basically! technical analysts aim at good
returns on investment.
The ndians stock market al"ays fluctuations in the share price. Technical analysis
helps to the investors for the +etter decision making for +uying 3 selling of shares.
4S54 BESA5T '
Background of the study:
n the present economic scenario! the ndian industry is gro"ing fast and the
income levels of the people are also increasing. #hen people saved more money! they "ill
invest in stock market expecting to earn more return "ith less risk. $nce investors interested
in investing! they look for companies "hich give higher return in the future. There are t"o
approaches for forecasting of future prices of shares. They are% fundamental analysis and
technical analysis.
4ost market analysts pay attention to +oth fundamental and technical factors even
though they may emphasi&e one over the other. Technical analysts mainly study the stock
price movements of the security market. f there is an uptrend in the price movement investor
may purchase the scrip. #ith the onset of fall in price he may sell it and move from the scrip.
Basically! technical analysts aim at good returns on investment.
#hile fundamental price analysis often asks the 6uestion7 8#here should the price
+e98 given economic conditions! technical analysis asks the 6uestion7 8:o" "ill "e get
there98 As such! technical analysis often deals "ith the timing of pricing decisions "ithin a
given price range. #hile sophisticated mathematical models are often employed "ith
technical analysis! the only data used is past price history! volume traded! and in futures
markets the open interest -i.e.! ho" many futures contracts are outstanding/. As such!
technical analysis is simply the analysis of price trends %% +y looking at past prices! volume!
and open interest technical analysts attempt to identify +uy and sell signals +ased on
underlying market emotion. The idea is to reduce the opportunity cost of +uying too early or
selling too late.
Technical analysis is a process of identifying trend reversals at an earlier stage to
formulate the +uying and selling strategy. #ith the help of several indicators they analyses
the relationship +et"een price%volume and supply%demand for the overall market and the
individual stock. ;olume is favora+le on the ups"ing i.e. the num+er of shares traded is
greater than +efore and on the do"nside the num+er of shares traded d"indles. f it is other
"ay round! trend reversals can +e expected.
4S54 BESA5T <
Technical analysis is a very po"erful tool and is a pre%re6uisite for anyone
"ho "ants to predict financial market movements and +uild successful trading system. The
term 8technical analysis8 is a complicated sounding name for a very +asic approach to
investing. Simply put! stock market analysis is the study of prices! "ith charts +eing the
primary tool. So "hile it seems as if volume and technical analysis in general all have some
market forecasting a+ilities.
=sed together! they can +e 6uite helpful in trading and investing! +ut should +e
looked at more as helpful hints as to a markets +ias! more than anything else. A technical
analyst doesn>t look at income statements! +alance sheets! company policies! or anything
fundamental a+out the company. The technical analysis looks at the actual history of trading
and price in a security or index. This is usually done in the form of a chart. The security can
+e a stock! future! index! or a sector. t is flexi+le enough to "ork on anything that is traded
in the financial markets.
For a real Securities Analysis make sure to get real%time streaming 6uotes if you
trade often. The 6uotes should automatically update themselves. ?ou should also +e a+le to
see +ar charts that sho" intraday price action. Every trader and technical analyst kno"s the
importance of charts and indicators. But if these "ere all it took to make profita+le trading
decisions! everyone "ould +e a "inner. Either fundamental analysis or technical analysis
alone is not sufficient to predict the future trend of the stocks. Technical analysis is more
effective in predicting future price and can make more profit.
4S54 BESA5T 0
General Introduction:
Background to the Stock Exchange:
A stock exchange is a organi&ed place or market "here listed securities are traded.
The Securities Contracts .egulation Act!'()* defines it as An Association organi&ation or
+ody of individuals! "hether incorporated or not esta+lished for the purpose of assisting !
regulation and controlling +usiness in +uying ! selling and dealing in securities. The "orking
of the stock exchange in ndia is regulated +y the Securities Contracts -.egulation/ rule
'()*. The main o+@ective of the act is to esta+lish unitary control over all the stock exchange
+y the central government "ith a vie" to making them really helpful for the economic
development of the country. A stock exchange! organi&ed market for trading of stocks and
+onds. Such markets "ere originally open to all! +ut at present only mem+ers of the o"ing
association may +uy and sell directly. 4em+ers or stock +rokers +uy and sell for themselves
or for others! charging commissions for their services. A stock may +e +ought or sold only if
it is listed on the exchange and it may not listed unless it meets certain re6uirements set +y
the exchanges +oard of governors. There are stock exchanges an all important financial
centers of the "orld.
The mem+er +rokers are essentially the middlemen! "ho transact in securities on
+ehalf of the pu+lic for a commission or on their o"n +ehalf. The stock market is typically
governed +y a +oard consisting of directors! a ma@ority of "hom are elected +y the mem+er
+rokers. The other mem+ers of +oard are nominated +y the government. ,overnment
nominees include representatives of the 4inistry of finance! as "ell as some pu+lic
representative! "ho are expected to safeguard the interest on investors in the functioning of
exchanges.
The +oard is headed +y a president! "ho is an elected mem+er! usually nominated +y
the government! from among the elected mem+ers. The Executive Airector! "ho is
appointed +y the stock exchange "ith government approval! is the operational chief of the
stock exchange are carried out in accordance "ith the rules and regulations governing its
functioning.
4S54 BESA5T B
The Definition of a stock:
Stock is a share in the o"nership of a company. Stock represents a claim on the
companys assets and earnings. As you ac6uire more stocks! your o"nership stake in the
company +ecomes greater. #hether you say stocks! e6uity! or shares! it all means the same
thing.
:olding a companys stock means that you are one of the many o"ners
-shareholders/ of a company! and as such! you have a claim -al+eit usually very small/ to
everything the company o"ns. As an o"ner! you are entitled to your share of the companys
earnings as "ell as any voting rights attached to the stock.
India stock exchanges:
There are < leading stock exchanges in ndia7
'/ Bom+ay stock exchange -BSE/
</ 5ational Stock Exchange-5SE/
BSE-Bombay Stock Exchange :
SENSE - T!E B"#$%ETE# $& INDI"N '"(IT") %"#*ETS
The Bom+ay Stock Exchange! is the oldest stock exchange in Asia! "as esta+lished in
'2C) as the 5ative Share and Stock Brokers Association at Aalal Street in 4um+ai. n '()*!
the BSE o+tained recognition from the ,overnment of ndia% the first stock exchange to do
soDunder the Securities Contracts -.egulation/ Act! '()*.
The Sensex! first compiled in '(2*! is a E4arket Capitali&ation% #eighted ndex of 01
component stocks representing a sample of large and financially sound companies. The BSE%
Sensex is the +enchmark index of the ndian capital markets. The 01 stock sensitive index or
Sensex "as first compiled in '(2*. The Sensex is compiled +ased on the performance of the
stocks of 01 financially sound +enchmark companies. n '((1 the BSE crossed the '111
mark for the first time. t crossed <111! 0111 and B111 figures in '((<.
4S54 BESA5T )
NSE- National Stock Exchange:
Based on the recommendations +y :igh Fo"ered Study ,roup on esta+lished on 5e"
Stock Exchanges! 5SE "as promoted +y leading Financial nstitutions at the +ehest of the
,overnment of ndia and "as incorporated in 5ovem+er '((< as a tax%paying company
unlike other stock exchanges in the country. $n its recognition as a stock exchange under the
securities contracts -.egulation/ Act! '()* in April '((0! 5SE commenced operations in the
#holesale Ae+t market -#A4/ segment in Gune '((B. The capital market -E6uities/
segment commenced operations in 5ovem+er '((B and operations in Aerivatives segment
commenced in Gune <111.
(rimary and Secondary ca+ital %arkets:
A company cannot easily attract investors to invest in their securities if the investors
cannot su+se6uently trade these securities at "ill. n other "ords! securities cannot have a
good primary market unless it is ensured of an active secondary market.
(rimary market:
Securities generally have t"o stages in their lifespan. The first stage is "hen the
company initially issues the security directly from its treasury at a predetermined offering
price. Frimary market is the market for issue of ne" securities. t therefore essentially
consist of the companies issuing securities! the pu+lic su+scri+ing to these securities! the
regulatory agencies like SEB and the ,overnment! and the intermediaries such as +rokers!
merchant +ankers and +anks "ho under"rite the issues and help in collecting su+scription
money from the pu+lic. t is referred to as nitial Fu+lic offer -F$/. nvestment dealers
fre6uently +uy initial offering on the primary market and the securities on the secondary
market.
4S54 BESA5T *
Secondary %arket:
The second stage is "hen an investor or dealer makes the shares! +ought from a
company treasury! availa+le for sale to other investors on the secondary market. Secondary
market is the market for trading in existing securities! after they have +een created in the
primary market. t essentially consists of the pu+lic "ho are +uyers and sellers of securities!
+rokers! mutual funds! and most importantly the stock exchanges "here the trading takes
place! such as the BSE -Bom+ay Stock Exchange/ or 5SE -5ational Stock Exchange/. The
t"o markets mentioned a+ove are not to +e understood as t"o physically segregated
institutions. The same parties are generally involved in +oth the markets. The ma@or
difference is in fact that the securities is +orn in the primary market +ut matures in the
secondary market.
4S54 BESA5T C
Statement of the (roblem :
As the stock market is highly volatile! it is very difficult for the ordinary investor
or speculator to predict the movements of stock prices. 4any people "ant to invest in shares
in order to make huge profits. n this scenario! many companies are availa+le and investors
are in a dilemma to choose a particular company for investing "hich gives more return!
rather than putting their hands in a company "hich is more risky.
$b,ecti-es of the Study:
'. To kno" ho" price fluctuations takes place in the stock market.
<. To study the analysis of price movement of shares and company performance of selected
companies.
0. To kno" a+out the effectiveness of technical analysis "hile making trading decisions.
B. To identify the trends in the stock movements and recommends the investor for trading
i.e. +uying or selling.
4S54 BESA5T 2
). To study the various factors affecting the price movement of shares and company
performance.
Significance and Im+ortance of study :
'/ nvestors "ealth is precious. :ence needs to analy&e the prevailing economic
conditions of the country and also the shares of the respective companies.
</ nvestment is the commitment of fund expectation "ith some positive rate of return
and is al"ays associated "ith risk! may +e diversifia+le non% diversifia+le or +oth for
reducing the risk and increasing the return! analy&ing the securities! considering the
price movement of the shares and performance of the companies is a must.
0/ As each investor has his o"n preference and choice of investments! considering the
shares and the relative movement of hes shares and price movements "ith
companys performances ena+les of getting +etter portfolio.
4S54 BESA5T (
B/ Fortfolio management is assuming importance and more and more people are
sho"ing interest in investing in companies "hich are doing good.
Sco+e of the Study:
The study is limited to analy&ing of the past share price and
predicting future trend +y using moving average method. ') companies stock from BSE
Sensex companies are selected for the study. Six 4onths "eekly closing stock price from *
th
Gune <1'' to <)
th
5ovem+er <1'' is taken for identifying the stocks trend.
#esearch %ethodology :
%ethodology of the study:
Technical analysis is purely +ased on the secondary data. Aata is collected
separately of ') BSE companies "hich includes company profiles! :istorical prices
and other financial information. The re6uisite data for the study is collected from
secondary source like7
i/ Text +ook 3 4aga&ines
ii/ 5e"s papers
iii/ #e+ sites
Sam+le Si.e:
Six month "eekly closing prices of ') BSE Sensex company index have taken
for testing the relevance of technical analysis.
4S54 BESA5T '1
Statistical Tools /sed:
i/ 4oving Average analysis
ii/ ,raphs
iii/ Ta+les
(lan of "nalysis7
The ta+les and various types of graphs are used for analysis
and su+se6uent interpretation for +etter understanding. The conclusion is dra"n from the
interpretation and suggestions are given. For the data analysis and su+se6uent interpretation!
the advanced version of 4S Excel is used. This soft"are has made easy to construct the
ta+les for analysis and various types of graphs +y this automated data analysis. t has
minimi&ed and reduced human error and helped in +ringing out an accurate outlay of the
information.
'om+anies selected for Study:
selected follo"ing ') companies stocks from BSE Sensex on the +asis
of market capitali&ation as on Aecem+er <1
th
<1''.
4S54 BESA5T ''
4S54 BESA5T '<
Code Company Sector
)11<1( nfosys Tech nformation Technology
)110<) .eliance ndustries $il 3 ,as
)112C) TC Himited F4C,
)111'1 :AFC Finance
)0<'CB CC Bank Finance
)11'21 :AFC Bank Finance
)11)'1 Harsen 3 Tou+ro Capital ,oods
)0<)B1 Tata Consult nformation Technology
)11''< State Bank of ndia
Finance
)0<B)B Bharti Airtel Telecom
)11*(* : = H F4C,
)11)C1 Tata 4otors Transport E6uipments
)110'< $5,C $il 3 ,as
)11)<1 4 3 4 Transport E6uipments
)11BC1 Tata Steel
4etal! 4etal Froducts 3
4ining
)ayout of the Dissertation :
n order to give a clear picture! the entire pro@ect has +een divided into Six
chapters. A chronological list "ith su+ titles is given +elo".
'!"(TE#-I7 5T.$A=CT$5
This chapter deals "ith the introduction to the topic and stock market!
+ackground of the study.
'!"(TE# 0II: .ESEA.C: 4ET$A$H$,?
This chapter deals "ith the o+@ectives of study! significance and importance of the
study! research methodology adopted! layout of dissertation and limitation of the study.
'!"(TE#-III7 C$5CEFT=AH F.A4E#$.I
This chapter deals "ith the theory of the concepts relevant to the study.
'!"(TE#-I1: C$4FA5?S F.$FHE
Companys profile deals "ith the companys +rief introduction! present aspects
of the companys.
'!"(TE#-1: A5AH?SS A5A 5TE.F.ETAT$5 $F T:E AATA
t deals "ith the analysis and interpretation of the data collected to dra" inference.
'!"(TE#-1I: F5A5,S! S=,,EST$5S 3 C$5CH=S$5S
t deals "ith the conclusions dra"n on the +asis of the data collected and analy&ed
and suggestions made "ith the conclusions.
)imitations of the Study:
'. The time period for the study is limited to Six 4onths only.
<. The study is limited to information availa+le through secondary sources.
0. The study is limited to information of trend +y moving average method.
4S54 BESA5T '0
!istory of Technical "nalysis:
Technical analysis is! perhaps! the oldest form of security analysis. t is
+elieved that the first technical analysis occurred in 'Cth century Gapan! "here analysts used
charts to plot price changes in rice. ndeed! many present%day Gapanese analysts still rely on
technical analysis to forecast prices in their stock exchange! "hich is the second largest in the
"orld. n the =nited States! technical analysis has +een used for more than '11 years. This
form of analysis "as especially helpful at the turn of the century "hen financial statements
"ere not commonly availa+le to investors.
#ichard Schabacker -'(1<%'(02/ is considered to +e a grandfather of technical
analysis "ho laid the foundations for modern pattern analysis. :e classified tools "hich
helped technical analysts not only to forecast future market movements! +ut also to foresee
"hen the prevailing trend "ould finish. :e "as the first to classify common charts patterns!
develop the theory of price gaps! formalise the use of trend lines and prove the importance of
support and resistance levels. .ichard Scha+acker most popular tool is Bar charts. The vast
ma@ority of chart patterns fall into t"o main groups7 reversal and continuation. .eversal
patterns indicate the trend may change and may +e +roken do"n into top and +ottom
formations.
n recent years! the ever%increasing use of personal computers has led
to su+stantial gro"th in technical analysis! and numerous soft"are packages have +een
developed to meet these increased needs. Thus! technical analysis can +e applied not only to
stocks and their markets +ut also to +onds! commodities! fixed%income markets! industries
"ithin markets! and currencies. 4oreover! one of the most popular current applications of
technical analysis is for futures derivatives.
4S54 BESA5T 'B
%eaning of Technical "nalysis:
t is a process of identification trend reversals at an earlier stage to formulate
the +uying and selling strategy "ith the help of several indicators the relationship +et"een
price% volume and supply J demand for the overall market and individual stock.
Technical analysis is the examination of past price movements to forecast
future price movements. Technical analysts are sometimes referred to as chartists +ecause
they rely almost exclusively on charts for their analysis.
"ssum+tion of Technical analysis :
'. %arket discounts e-erything
A ma@or criticism of technical analysis is that it only considers price movement!
ignoring the fundamental factors of the company. :o"ever! 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 +elieve that the company>s fundamentals!
along "ith +roader 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! "hich technical theory vie"s as a product of the
Supply and demand for a particular stock in the market.
23 (rice %o-es in Trends
n technical analysis! price movements are +elieved to follo" trends. This means that
after a trend has +een esta+lished! the future price movement is more likely to +e in the same
direction as the trend than to +e against it. 4ost technical trading strategies are +ased on this
assumption.
43 !istory Tends To #e+eat Itself
4S54 BESA5T ')
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 attri+uted to market
psychologyK in other "ords! market participants tend to provide a consistent reaction to similar
market stimuli over time. Technical analysis uses chart patterns to analy&e market movements
and understand trends. Although many of these charts have +een used for more than '11 years!
they are still +elieved to +e relevant +ecause they illustrate patterns in price movements that
often repeat themselves.
5ho /ses Technical "nalysis6
nvestors for their short%term trading decisions use Technical Analysis. This
short%term may +e further divided in day trading! short%term investment and for hedging
purposes. The role played +y Technical Analysis in each case is as follo"s7
73 Day Traders: A day trader is one "ho takes and s6uares off his position +oth on the
same day. 4ostly a day trader counts on turnover rather than margin. A day trader "ill
nterpret the market movement in the manner stated +elo".
Suppose 4r. L is a day trader "ho deals in S3F C5L 5ifty. The movement of 5ifty
Auring a particular day is stated +elo"! if 4r. L follo"s the recommendations made +y
Technical Analysis he should sell the 5ifty at '(1B%'(12 levels and again at '2(1 level. t
can +e clearly seen that +uying is coming at the level of '2C1%'2C)K it is +etter :e S6uares
off and can even +ecome a net +uyer at this range.
23 Short term in-estors: These people form the +iggest clientele +ase of +oth the +rokers
and the Technical Analyst. Another aspect! "hich should +e noted! is the declining trend in
terms of short term E:igh created +y the stock. #e can clearly reduce that each short%term
rally is creating a lo"er high over the given term. n such a situation it is recommended +y
analyst to +uy at the resistance level +ut sell it off immediately if it +reaks the level +y a
margin of <%0M.
43 !edgers: These are generally +ig investors! "ho have lot of money at stake and hence
they look to have some hedging of their risk. The strategy follo"ed +y this section of
4S54 BESA5T '*
investors is that they compare the stock in consideration "ith the index and on the +asis of
the result of this comparison they take their position in the stock.
Technical tools:
,enerally used technical tools are7
'/ Ao" theory
</ ;olume of trading
0/ Short selling
B/ Bars 3 line charts 3
)/ 4oving averages
%o-ing "-erage :
The market indices do not rise or fall in straight line. The up"ard and do"n"ard are
interrupted counter moves. The underlying trend can +e studied +y smoothening of the data.
To smooth the data moving average techni6ue is used.
The "ord moving means that the +ody of moves ahead to include the recent
o+servation. f it is five day moving average! on the sixth day the +ody of data moves to
include the sixth day o+servation eliminating the first days o+servation. Hike"ise it
continues. n the moving average calculation! closing price of the stock is used. The moving
averages are used to study the movement of the market as "ell as the individual scrip price.
The moving average indicates the underlying trend in the scrip. The period of average
determines the period of the trend that is +eing identified. For identifying short term trend! '1
day to 01 day moving averages are used. n the case of medium term trend )1 day to '<) day
are adopted. <11 day moving average is used to identify long term trend.
A 4oving Average is an indicator that sho"s the average value of a security>s price
over a period of time. #hen calculating a moving average! a mathematical analysis of the
4S54 BESA5T 'C
security>s average value over a predetermined time period is made. As the securities price
changes! its average price moves up or do"n.
There are several popular "ays to calculate a moving average. 4eta Stock for Gava
calculates a 8simple8 moving average%%meaning that e6ual "eight is given to each price over
the calculation period.
Index and stock price moving average: ndividual stock price compared "ith the
stock market indices. The moving average of the stock and the index are plotted in the same
sheet and trends are compared. f 5SE or BSE index is a+ove stocks moving average line!
the particular stock has +ullish trend. The price may increase a+ove the market average. f the
Sensex or 5ifty is +elo" the stocks moving average! the +earish market can +e expected for
the particular stock.
f the moving average of the stock penetrates the stock market from a+ove! it
generates sell signal. =nfavoura+le market condition prevails for the particular scrip. f the
stock line pushes up through the market average! it is a +uy signal.
Stock price and stock prices moving average +uy and sell signals are provided +y the
moving averages. 4oving averages are used along "ith the price of the scrip. The stock price
may intersect the moving average at a particular point. Ao"n"ard penetration of the rising
average indicates the possi+ility of a further fall. :ence sell signal is generated. =p"ard
penetration of a falling average "ould indicate the possi+ility of the further rise and gives the
+uy signal. As average indicates the underlying trend! its violation may signal trend reversal.
Comparison of the two moving averages #hen long term and short term moving
averages are dra"n! the intersection of t"o moving averages generates +uy or sell signal.
#hen the scrip price is falling and if the short term average intersects the long term moving
average from a+ove and falls +elo" it! the sell signal is generated. f the scrip price is rising!
the short term average "ould +e a+ove the long term average. The short term average
intersects the long term average from +elo" indicating a further rise in price! given +uy
signal.
4S54 BESA5T '2
But! if the short term average move a+ove the long term average and the long term
average is falling! investor should treat intersection "ith suspicion. The short term movement
may not hold long. :ence! the investor should "ait for the long average to turn up +efore
+uying the scrip. Similarly! if the short term average moves +elo" the long term average
+efore the long term average has flattened out or +efore it reverses its direction! the investor
should "ait for the fall in the long average for reversal of direction +efore moving out of the
scrip.
The t"o most popular types of moving averages are the Simple
4oving Average -S4A/ and the Exponential 4oving Average -E4A/. They are descri+ed in
more detail +elo".
Sim+le %o-ing "-erage :
A simple moving average is formed +y computing the average -mean/ price of a
security over a specified num+er of periods. #hile it is possi+le to create moving averages
from the $pen! the :igh! and the Ho" data points! most moving averages are created using
the closing price.
Formula for the Simple 4oving Average -S4A/7
#here!
F % price of i%+arK
n % 4A period.
Ex+onential %o-ing "-erages 8E%"9:
n order to reduce the lag in simple moving averages! technicians often use
exponential moving averages -also called exponentially "eighted moving averages/. E4A>s
reduce the lag +y applying more "eight to recent prices relative to older prices. The
"eighting applied to the most recent price depends on the specified period of the moving
average. The shorter the E4A>s period! the more "eight that "ill +e applied to the most
4S54 BESA5T '(
recent price. The important thing to remem+er is that the exponential moving average puts
more "eight on recent prices. As such! it "ill react 6uicker to recent price changes than a
simple moving average.
#hich moving average you use "ill depend on your trading and investing style and
preferences. The simple moving average o+viously has a lag! +ut the exponential moving
average may +e prone to 6uicker +reaks. Some traders prefer to use exponential moving
averages for shorter time periods to capture changes 6uicker. Some investors prefer simple
moving averages over long time periods to identify long%term trend changes. n addition!
much "ill depend on the individual security in 6uestion. A )1%day S4A might "ork great for
identifying support levels in the 5ASAAN! +ut a '11%day E4A may "ork +etter for the Ao"
Transports. 4oving average type and length of time "ill depend greatly on the individual
security and ho" it has reacted in the past.
5hen to use6
Because moving averages follo" the trend! they "ork +est "hen a security is
trending and are ineffective "hen a security moves in a trading range. #ith this in mind!
investors and traders should first identify securities that display some trending characteristics
+efore attempting to analy&e "ith moving averages. This process does not have to +e a
scientific examination. =sually! a simple visual assessment of the price chart can determine if
a security exhi+its characteristics of trend.
/ses $f %o-ing "-erages :
There are many uses for moving averages! +ut t"o +asic uses stand out7
i/ Trend identificationOconfirmation
ii/ Support and .esistance level identificationOconfirmation
Trend Identification:'onfirmation:
There are three "ays to identify the direction of the trend "ith moving averages7
direction! location and crossovers. The first trend identification techni6ue uses the direction
of the moving average to determine the trend. f the moving average is rising! the trend is
4S54 BESA5T <1
considered up. f the moving average is declining! the trend is considered do"n. The
direction of a moving average can +e determined simply +y looking at a plot of the moving
average or +y applying an indicator to the moving average. n either case! "e "ould not "ant
to act on every su+tle change! +ut rather look at general directional movement and changes.
Su++ort and #esistance )e-els:
Another use of moving averages is to identify support and resistance levels. This is
usually accomplished "ith one moving average and is +ased on historical precedent. As "ith
trend identification! support and resistance level identification through moving averages
"orks +est in trending markets.
Trend lines:
n the preceding section! "e sa" ho" support and resistance
levels can +e penetrated +y a change in investor expectations -"hich results in shifts of the
supplyOdemand lines/. This type of a change is often a+rupt and 8ne"s +ased.8
n this section! "e>ll revie" 8trends.8 A trend represents a consistent change in prices
-i.e.! a change in investor expectations/. Trends differ from supportOresistance levels in that
trends represent change! "hereas supportOresistance levels represent +arriers to change.
As sho"n in the follo"ing chart! a rising trend is defined +y successively higher lo"%
prices. A rising trend can +e thought of as a rising support level%%the +ulls are in control and
are pushing prices higher.
4S54 BESA5T <'

As sho"n in the next chart! a falling trend is defined +y successively
lo"er high%prices. A falling trend can +e thought of as a falling resistance level%%the +ears
are in control and are pushing prices lo"er.
The Buy and Sell signals provided by the moving average analysis are as follows:
B/; SIGN") SE)) SIGN")
Stock price line rise through the
moving average line "hen the graph of
Stock price lines falls through the
moving average line "hen the graph of
4S54 BESA5T <<
the moving average line is flattening
out.
the moving average line is flattening
out.
Stock price line falls +elo" the moving
average line "hich is rising.
Stock price line rises a+ove the moving
average line "hich is falling.
Stock price line! "hich is a+ove the
moving average line! falls +ut +egins to
rise again +efore reaching the moving
average line.
Stock price line! "hich is +elo" the
moving average line! rises +ut +egins to
fall again +efore reaching the moving
average line.
Infosys Technologies )imited :
nfosys Technologies Himited is a multinational information technology
Services Company head6uartered in Bangalore! ndia. t is one of ndia>s largest T
companies! "ith *) development centers in ndia and over *B offices "orld"ide. The
company "as founded in '(2'. t "as formerly kno"n as nfosys Consultants Frivate
Himited and changed its name to nfosys Technologies Frivate Himited in April '((<. The
company "orks "ith glo+al corporations and ne" generation technology companies to
deliver end% to%end solutions.
. nfosys completed its initial pu+lic offering of e6uity shares in ndia in '((0 and its initial
pu+lic offering of AASs in the =nited States in '(((. t +ecame the first ndian soft"are
company to +e added to the 5ASAAN%%'11 indexes. t has received Capa+ility 4aturity
4odel level -C44%)/ status "hich indicates that the company has a high 6uality of
organi&ation management system and processes and methodology.
The company has five su+sidiaries glo+ally % nfosys BF$ Himited! nfosys
Technologies -Australia/! nfosys Technologies -China/! nfosys Consulting -=S/ and
nfosys Technologies -Hatin America/. nfosys BF$! previously kno"n as Frogeon! is a
4S54 BESA5T <0
su+sidiary BF$ of the company. The company has presence across the glo+e "ith *) glo+al
development centers spread over =SA! ndia! China! Australia! Gapan! =k! ,ermany! France!
S"it&erland! 5etherlands! and Canada. nfosys and its su+sidiaries had 'B'2<< employees as
on 01 Gune <112.
nfosys provides soft"are services like application development 3 maintenance!
consulting services 3 package implementation! infrastructure management! systems
integration! product engineering and BF$. These services are provided to more than )11
active clients across industry segments like +anking! financial services! insurance!
manufacturing! telecom! retail! transportation and others. Banking 3 financial services
segment -BFS/ is the largest industry vertical contri+uting 0* per cent to revenues. t is
follo"ed +y telecom! manufacturing and retail.

-Sources7 """.infosys.com/
#eliance Industries )td:
.eliance ndustries Himited is a Fortune ,lo+al )11 company and is the
largest private sector company in ndia. The .eliance ,roup! founded +y Ahiru+hai :.
Am+ani. .eliance ndustries esta+lished a synthetic fi+ers mill at 5aroda in ,u@arat during
'(**. ts +usinesses span the entire petroleum value chain. t operates in three ma@or
segments vi&. exploration 3 production of crude oil! refining 3 marketing of petroleum
products and production of petrochemicals 3 its intermediates. The other segment of the
Company includes textile! retail +usiness! special economic &one -SEP/ development and
telecomO+road+and +usiness. Auring the fiscal year ended 4arch 0'! <1''! .eliance
ndustries Htd ac6uired ()M interest in nfotel Broad+and Services Himited.
Among the private sector companies! .eliance ndustries Htd is the largest exploration
acreage holder "ith 00 domestic exploration +locks covering an area of a+out 0!0*!111 s6.
km. as on 01 Septem+er <11C. Additionally! it has interest in an exploration +lock each in
?emen! $man and Australia. The company also has five coal +ed methane -CB4/ +locks
covering an area of a+out B!111 s6. km.
4S54 BESA5T <B
.eliance ndustry Himited has spelled large capex plans entailing an investment of
over .s.22! 111 crore over the next five years. The company has planned to +uild one of the
largest integrated cracker and petrochemicals complex -"ith a total capacity of < 44TFA/
and polypropylene plant at a cost of .s.'0! <11 crore in the SEP to +e set up +y the company.
Exploration and production of oil and gas -mainly in the I, +asin/ as "ell as its retail
+usiness expansion is likely to cost .s.<)! 111 crore each.

-Sources7 """.ril.com/
IT' )imited: - >ndian To+acco Company of ndia Himited>/
The company "as incorporated "ay +ack in '('1 under the name of mperial
To+acco Company of ndia Himited and "as renamed as .T.C Himited in '(CB. Hater in
<11'! the dots "ere removed from the name and today the company is kno"n as TC
Himited.
TC Himited is one of ndia>s foremost private sector companies "ith a market
capitali&ation of nearly =S Q ') Billion and a turnover of over =S Q B.C) +illion. TC ranks
third in pre%tax profits among ndia>s private sector corporations. TC is ranked among the
#orld>s Best Big Companies and Asia>s >Fa+ulous )1> +y For+es maga&ine! among ndia>s
4ost .espected Companies +y Business #orld maga&ine and among ndia>s 4ost ;alua+le
Companies +y Business Today maga&ine.
TC has a diversified presence in Cigarettes! :otels! Faper+oards! Fackaging!
Agri%Business! Foods! nformation Technology! aggar+attis! Fersonal Care! ,reeting! ,ifting
3 Stationery! Safety 4atches and other F4C, products.
n Gune <111! the company initiated its Re%%choupal> net"ork! a "e+ +ased
information and procurement tool for farmers. Currently! the company reaches out to over
4S54 BESA5T <)
0.) million farmers in 02!)11 villages across nine states "ith a strong net"ork of *!B11 e%%
choupals. t also has '2 rural malls! Rchoupal saagar> operating in three states %% 4adhya
Fradesh! 4aharashtra and =ttar Fradesh.
TC ventured into hospitality +usiness in '(C) +y opening its first hotel in
Chennai called R:otel Chola>. Today! the company operates over C1 hotels across ndia
classified under five +rands %% TC :otels%%Huxury collection! TCD#elcome group
Sheraton :otels! #elcome :otels! Fortune :otels and #elcome :eritage.
TC en@oys the leadership position in the ndian cigarette +usiness "ith a market
share of 2<.* per cent -<11)%%1*/. Some of its popular cigarette +rands are nsignia! ndia
Iings! Classic! ,old Flake! 5avy Cut! Berkeley and Bristol. The company has an installed
capacity to manufacture '12 +illion sticks per annum! spread over four manufacturing
facilities located at #est Bengal! Iarnataka! Bihar and =ttar Fradesh
-Source7 """.TC.in/
!ousing De-elo+ment &inance 'or+oration )td3
The :ousing Aevelopment Finance Corporation Htd -:AFC Htd/! incorporated in the
year '(CC +y Shree :asmukh+hai Farekh aims at furthering home o"nership +y providing
long term finance to the household sector. t also offers property related services and deposit
products "ith safer investment options +acked +y competitive returns. Charita+le Trusts!
Educational nstitutions! ndividuals! .eligious Trusts and others "hom the management
decides can deposit "ith :AFC.
Auring the year '(C( $n 5ovem+er :AFC
introduced :AFC Certificate of Aeposit Scheme. And Auring the year '(21 company
introduced Hoan Hinked Aeposit scheme! "hich encourages small savers to +egin a pass
+ook account "ith :AFC for a minimum of .s.<11 and deposit! as and "hen funds are
availa+le in multiples of .s. '11. After a period of 0 years! the depositor may "ithdra" his
accumulated deposit "hich has earned (M per annum or rene" it "ith :AFC.
4S54 BESA5T <*
t also provides housing finance consultancy services to various international
agencies like The #orld Bank! Asian Aevelopment Bank! =nited States> Agency for
nternational Aevelopment etc.
F>s hold more than *1 M of :AFC>s e6uity! ndian Fu+lic holds less than ') M and the
rest are +eing held +y +anks and others.
:AFC has +ranches across all ma@or ndian cities and countries like Iu"ait! Natar!
Saudi Ara+ia! Sultanate of $man and =AE.
-Sources7 """.hdfc.com/
I'I'I Bank )td:
CC Bank "as esta+lished in '((B +y the ndustrial Credit and nvestment
Corporation of ndia. CC reduced its stake in the +ank through a pu+lic offering of shares
in '((2. ts American Aepository .eceipts -AA.s/ "ere listed on the 5e" ?ork Stock
Exchange -5?SE/ in '(((%%<111. CC Bank launched internet +anking operations in '((2
n <111%%1'! CC Bank ac6uired Bank of 4adura +y "ay of an all%%stock
amalgamation. $n 0 4ay <11<! CC merged "ith CC Bank. T"o more companies %%
CC Fersonal Financial Services and CC Capital Services -su+sidiaries of CC/ %% "ere
+rought under the merged entity. The merged entity emerged as the second largest in terms of
+usiness si&e after State Bank of ndia.
CC Bank has an international presence in '2 countries. t no" has su+sidiaries in the
=I! .ussia and Canada! offshore +anking units in Singapore and Bahrain! an advisory
+ranch in Au+ai and +ranches in Bahrain! :ong Iong! Sri Hanka! Belgium and Nuarter. t
4S54 BESA5T <C
also esta+lished international finance centers and representative offices in the =S! the =AE!
China! Bangladesh! South Africa! ndonesia! Thailand and 4alaysia.
Chanda Iochhar is the Fresent chairperson of CC Bank. Total income .s.0<*<'(.B)0
4illion and 5et Frofit .s.)')'0.C*< 4illion -?ear ending march <1''/.The Bank has a
net"ork of <!)00 +ranches and *!211 AT4s in ndia! and has a presence in '( countries!
including ndia.
According to media reports! CC Bank plans to float an initial pu+lic
offer -F$/ for CC Securities! its "holly%o"ned capital market su+sidiary.
-Sources7 """.icici+ank.com/
!D&' Bank )imited:
The :ousing Aevelopment Finance Corporation Himited -:AFC/ "as amongst the
first to receive an >in principle> approval from the .eserve Bank of ndia -.B/ to set up a
+ank in the private sector.. The +ank "as incorporated in August '((B in the name of >:AFC
Bank Himited>! "ith its registered office in 4um+ai! ndia. :AFC Bank commenced
operations as a Scheduled Commercial Bank in Ganuary '(().
:AFC Bank offers a "ide range of commercial and transactional +anking
services and treasury products to "holesale and retail customers. The +ank has three key
+usiness segments7
Wholesale Banking Services % The Bank>s target market ranges from large! +lue%chip
manufacturing companies in the ndian corporate to small 3 mid%si&ed corporate and Agri%
+ased +usinesses.
4S54 BESA5T <2
etail Banking Services % The o+@ective of the .etail Bank is to provide its target market
customers a full range of financial products and +anking services! giving the customer a one%
stop "indo" for all hisOher +anking re6uirements.
Treasury - #ithin this +usiness! the +ank has three main product areas % Foreign Exchange
and Aerivatives! Hocal Currency 4oney 4arket 3 Ae+t Securities! and E6uities. The
Treasury +usiness is responsi+le for managing the returns and market risk on this investment
portfolio. :AFC Bank>s +usiness philosophy is +ased on four core values % $perational
Excellence! Customer Focus! Froduct Headership and Feople.
:AFC Bank currently has an nation"ide net"ork of <!')1 Branches and *!C11
AT4>s in '!'B' ndian to"ns and cities.
-Source7 """.hdfc.com/
)arsen < Toubro )td:
Harsen and Tou+ro! founded +y t"o Aanish engineers! 4r. :enning :olck Harsen
and Soren Iristian Tou+ro as a partnership firm in '(02! "as incorporated as a company in
'(B*. t is one of the flagship company of Harsen 3 Tou+ro ,roup 3 the largest engineering
3 construction conglomerate in Asia.
Started its +usiness "ith the noncore cement sector! today the company is
highly diversified. H3T carries out its diversified activities through its different divisions vi&!
Construction%ECC! Engineering 3 Construction%Fro@ects! :eavy Engineering%4anufacture!
Electrical 3 Electronics! nformation Technology and 4achinery 3 ndustrial Froducts
division.
The ECC -engineering construction 3 contracts/ division of H3T is the largest
division of the company. t constructs all kinds of +uildings! provides infrastructural
4S54 BESA5T <(
facilities! takes up hydropo"er 3 irrigation pro@ects! constructs thermal 3 non conventional
po"er plants 3 offers electrification services to ma@or industries.
The company is headed +y the Chairman cum 4A 4r.A.4.5aik. and
Company Secretary 4r. 5 :ariharan. Current total income of the company .s. B)BB)).B
4illion and 5et Frofit .s. 022C.) 4illion.-?ear Ending 4arch <1''/.
Business area of the com+any includes:
Turnkey Fro@ects
Construction
Engineered Froducts 3 Systems
Electrical 3 Electronic Froducts 3 Systems
T 3 Engineering Services
4achinery ;alves 3 ndustrial Consuma+les
Financial Services
Ship+uilding
-Sources7 """.larsentou+ro.com /
Tata 'onsultancy Ser-ices )td:
Tata Consultancy Services -TCS/ is the largest ndian soft"are company in
terms of sales. t is a part of the Tata group! one of Asia>s largest conglomerates. t "as
founded +y Gamset@i Tata in '2B2 and it is one of ndias most respected institutions today.
TCS started its operations in '(*2 as a division of Tata Sons pioneering the offshore soft"are
services delivery model. Tata Sons is a closely held firm of the Tata group.
n <11<%%10! $rchid Frint ndia! then o"ned +y Tata Sons! "as re%christened as
TCS "hich led to the creation of TCS as a separate company as "e kno" it today. n <11B%%
1)! TCS Aivision of Tata Sons "as amalgamated into TCS. n <11B! the company made an
initial pu+lic offering and "as su+se6uently listed on the 5SE and the BSE. Tata Sons is the
single largest shareholder "ith a C) per cent stake in the company.
4S54 BESA5T 01
TCS has a glo+al presence "ith ')) offices across B< countries. t has developed
various glo+al delivery centers -,AC/ as "ell as regional delivery centers -.AC/ to cater to
its clients.
t is largest T employer in ndia! having total manpo"er strength of '! <'!*'1
employees. t provides services to "ide range of segment like +anking 3 financial services!
energy! resources 3 utilities! government! telecom! media 3 information services! etc.
The company is headed +y the Chairman 4r. .atan 5 Tata 3 4A 4r. 5
Chandrasekaran and Current total income of the company .s. <((012.) 4illion and 5et
Frofit .s. C)*((.( 4illion.-?ear Ending 4arch <1''/.
-Sources7 """.tcs.com /
State Bank $f India:
SB "as constituted through an Act of Farliament on 2 4ay '())! after the .eserve
Bank of ndia ac6uired a controlling stake in the mperial Bank of ndia! "hich then came to
+e kno"n as State Bank of ndia.
Auring the process of nationali&ation! the private o"nership "as retained! though on a
minority +asis. The State Bank of ndia -Su+sidiary Banks/ Act "as passed in '()(! ena+ling
State Bank of ndia to take over eight former State%associated +anks as its su+sidiaries. n
<11'! the +ank created one more su+sidiary! although a non%%+anking one! +y hiving off its
technology division. The +ank has no" decided to merge on of its su+sidiaries %% State Bank
of Saurashtra %% "ith itself. After this merger +ecomes successful! the +ank.
SB international +anking group expanded rapidly "ith the num+er of foreign offices
increasing to 20 +y 4arch <11C from )B at the end of 4arch <11).
4S54 BESA5T 0'
The +ank carries out a range of financial services through its ndian su+sidiaries%%SB
Capital 4arkets Htd.! SB AF: Htd.! SB Cards and Fayments Services Frivate Htd.! SB
Hife nsurance Company Htd.! SB Funds 4anagement Frivate Htd. and SB Factors and
Commercial Services Frivate Htd.
Branches7
The corporate center of SB is located in 4um+ai. n order to cater to different
functions! there are several other esta+lishments in and outside 4um+ai! apart from the
corporate center. The +ank +oasts of having as many as 'B local head offices and )C Ponal
$ffices! located at ma@or cities throughout ndia. t is recorded that SB has a+out '0)B<
+ranches! "ell net"orked to cater to its customers throughout ndia. And more than <112B
AT4s in ndia.
Current total income of the Bank is .s. (C<'2(.)2 4illion and 5et Frofit .s.
2<*B).'( 4illion. -?ear Ending 4arch <1''/.
-Sources """.s+i.co.in /
Bharti "irtel )imited :
Bharti Tele%;entures Htd! o"ned +y the Bharti Telecom group! "as
incorporated in the year '((). The economic activities of the company consist of mo+ile!
fixed line! long distance -national and international/! ;SAT and nternet services and
providing of net"ork solution.
The promoters of the company 4OS Bharti Telecom Htd. hold over B) percent of the
e6uity capital and foreign companies hold around << percent! "hile the pu+lic holds an
insignificant share. The company is headed +y 4r. Sunil Bharti 4ittal! as its Chairman and
4anaging Airector.
The +usiness at Bharti Tele%;entures is divided into three main +usiness units vi&7
mo+ile services! +road+and 3 telephone services and enterprise services. The mo+ile services
unit offers ,S4 mo+ile services across ndia "hile the +road+and 3 telephone services
4S54 BESA5T 0<
provide services in most ma@or cities. The Enterprise services unit provides carriers -long
distance services/ and services to corporate. All these services are provided under the Airtel
+rand.
The registered office of the company is situated in 5e" Aelhi and it operates its
,S4 mo+ile services in <0 telecom circles and provides +road+and and telephone services in
() cities. Airtels high%speed optic fi+re net"ork currently spans over (1!<1) kms covering
all the ma@or cities in the country And has recently launched ndia>s +est Airect%to%:ome
-AT:/ service! Airtel digital T;
Bharti Airtel is structured into three strategic +usiness units % 4o+ile services!
Tele%media services and Enterprise services. All these services are provided under the Airtel
+rand.
Current total income of the Bank is .s.02)1C* 4illion and 5et Frofit .s.
CC'*( 4illion. -?ear Ending 4arch <1''/.
-Source7 """.+hartiairtel.in/
!industan /nile-er )td:
:industan =nilever Htd "as incorporated as Hever Brothers ndia Htd in '(<<.
T"o =nilever su+sidiaries! :industan ;anaspati 4anufacturing Company and =nited
Traders! "ere merged "ith Hever Brothers ndia in '()* and the merged entity "as
rechristened >:industan Hever Htd>. n Gune <11C! the company>s name "as changed to
>:industan =nilever Htd> to reflect its glo+al identity. Farent! =nilever holds )'.B0 per cent
e6uity in the company.
:=H made a host of ac6uisitions! mostly glo+al! +y parent company =nilever. Frominent
among them "ere7
4S54 BESA5T 00
Tata $il 4ills Company "as merged "ith :=H in '((0. Brooke Bond Hipton ndia "as
merged "ith the company in '((* after these international tea +rands "ere earlier ac6uired
+y its parent company. The merger! also! +rought Iothari ,eneral Foods! Iissan and Aollops
ce cream +usiness into :=H>s fray.
Hakme Hever! a )17)1 @oint venture company for cosmetics! "as finally sold +y
Hakme to the company in '((2. Fonds ndia amalgamated "ith the company in '((2 after
=nilever glo+ally ac6uired it in '((*. nternational Best Foods "as ac6uired in <11'
su+se6uent to the international ac6uisition of Best Foods! =SA +y =nilever. n <110! :=H
ac6uired the cooked shrimp and pasteuri&ed cra+meat +usiness of the Amalgam ,roup of
Companies.
t has employee strength over ')111 3 '<11 managers. t has created
"idespread net"ork through its <111 suppliers 3 associates. There C) manufacturing
locations in ndia itself. t caters its "ide range of products to *.0million outlets. t has
market capitali&ation of ''.)+illion. =nder the Super ;alue Store Frogramme program! the
company is refur+ishing its traditional net"ork of kirana stores along the lines of modern
trade format and offering higher discounts on products in return for increased shelf space.
Brands:
!ome " personal care: - =nder this it has +rands that caters to every income
segment of population. n this segment it has +rands like Hakme! Axe! Fepsodent! Surf Excel!
#heel! Hux! Aove! Fair 3 Hovely 3 many more.
#oods " Beverages: $ =nder this segment it has +rand like Iissan! Innor Soups!
Annapurna! I"ality #alls! Brooke Bond 3 Hipton. t has also launch "ater purifier "ith the
name Fureit.
4S54 BESA5T 0B
The company is headed +y the Chairman 4r. :arish 4an"ani
3 4A 4r. 5itin Faran@pe and Current total income of the company .s. <11'10.2 4illion
and 5et Frofit .s. <')0<.) 4illion. -?ear Ending 4arch <1''/.

-Sources """.hul.com/
Tata %otors )td
Tata 4otors Htd -T4H/! "idely kno"n as TEHC$! is one of the oldest ndian
automo+ile companies. The company "as esta+lished in '(B) as Tata Engineering and
Hocomotive Co Htd -TEHC$/! primarily to manufacture locomotives and other engineering
products. The company>s first automo+ile! a commercial vehicle! "as launched in '()B in
colla+oration "ith Aaimler Ben& A, of #est ,ermany.
4S54 BESA5T 0)
Today! Tata 4otors is ndia>s largest ndian automo+ile company "ith annual revenues
of .s. B2B*0B.0 4illion -4arch <1''/ and The company claims to +e the "orld>s fifth largest
medium and heavy truck manufacturer and the second largest heavy +us manufacturer
The company is the leader in the ndian commercial vehicles space and the third
largest in the ndian passenger vehicles space "ith presence in compact! mid%%si&e car and
multi%%utility vehicles. These automo+ile segments together accounted for nearly (0 per cent
of the company>s revenues. And other segments "hich account for the +alance include diesel
engines for marine applications! spare parts.
The company developed ndia>s first indigenous light commercial vehicle%% Tata
B1C in '(2*. n '((2 the company developed ndia>s first sports utility vehicle%% Tata Safari
and the first indigenously manufactured passenger car%% Tata ndica. n Septem+er <11B! Tata
4otors +ecame the first company from ndian engineering sector to +e listed on the 5e"
?ork Stock Exchange. n Ganuary <112! the company unveiled the "orld>s cheapest car %%
Tata 5ano for .s. one lakh -ex%% dealer/ Froduct range of the company includes7 Fassenger
Cars! =tility ;ehicles! Truks! Commercial Fassenger Carriers 3 Aefense ;ehicles. Tata
4otors is an arm of one of the largest ndian +usiness conglomerates.
The company is headed +y the Chairman 4r. .atan 5 Tata
3 4A 4r. F 4 Telang and Current total 5et profit of the company .s. '2''2.< million.
-?ear Ending 4arch <1''/.

- Sources7 """.tatamotors.com/
$il < Natural Gas 'or+oration )td:
n '())! ,overnment of ndia decided to develop the oil and natural gas
resources in the various regions of the country as part of the Fu+lic Sector development. $il
and 5atural ,as Airectorate "as set up to"ards the end of '())! as a su+ordinate office
under the then 4inistry of 5atural .esources and Scientific .esearch. t "as esta+lished in
'()( and "as incorporated on 4arch <*! '((0 under the companies Act '()*. After The
4S54 BESA5T 0*
li+erali&ed economic policy! adopted +y the ,overnment of ndia in Guly '(('! sought to
deregulate and de%license the core sectors -including petroleum sector/ "ith partial
disinvestments of government e6uity in Fu+lic Sector =ndertakings and other measures. So
that $5,C "as re%organi&ed as a limited Company under the Company>s Act! '()* in
Fe+ruary '((B.
$il 3 5atural ,as Corporation -$5,C/ is into exploration and production
activities! +oth onshore and offshore. t o"ns and operates more than ''!111 Im of pipeline
in ndia including nearly 0!<11 Im of su+%sea pipelines. The $5,C group has 'B properties
in '1 foreign countries. t is a pu+lic sector unit and one of the +iggest ndian 4ultinational
Corporations.
t is the only fully%integrated petroleum company in ndia operating along the entire
hydrocar+on value chain. t has esta+lished * +illion tons of in%place hydrocar+on reserves
"ith more than 011 discoveries of oil and gas. Around five out of the six producing +asins
have +een discovered +y the company. t holds )C.<M! the largest share of hydrocar+on
acreages in ndia.
$il 3 5atural ,as CorporationRs su+sidiary 4angalore .efinery 3
Fetrochemicals -4.FH/ "ill supply all petroleum re6uirements.
The company is headed +y the Chairman cum 4A 4r. Sudhir ;asudeva and
Current total income of the company .s. (CC0B(.<) 4illion and 5et Frofit .s. '2(<B1.1<
4illion.-?ear Ending 4arch <1''/.
-Source7 """.ongcindia.com/
%ahindra < %ahindra )td:
4ahindra and 4ahindra -454/ "as incorporated in '(B) and is one of the
flagship company of the 4ahindra ,roup. 454>s core +usinesses are manufacturing!
distri+ution and sale of farm e6uipment and utility vehicles.
The ma@ority stakeholders of the company are institutional investors holding a+ove )*
percent and the ndian promoters holds more than << percent "hile the ndian pu+lic holds
4S54 BESA5T 0C
a+ove '1 percent of stake in the company. 4r. Ieshu+ 4ahindra is the chairman of the
company.
454 manufactures utility vehicles and tractors. n the automo+ile sector the company
manufactures HC;s! cars! @eeps! multi utility vehicles and three "heelers. ts activities in the
farm e6uipment sector comprise of designing! development! manufacturing and marketing of
tractors! farm implements! +asic and advanced agri implements! earth moving and
construction e6uipment and manufacturing of industrial engines. n the defense sector the
company manufactures light armored multi role vehicle! simulators for "eapons 3 "eapon
systems! mo+ile surveillance platforms! sea mines and small arms. t has ventured into 0%
"heeler segment "ith an electric%+attery%operated vehicle through its su+sidiary 4ahindra
Eco 4o+iles
434 has its registered office in 4um+ai and its plants are in 4aharashtra! =ttar
Fradesh! .a@asthan and Andhra Fradesh. ts plants in 4um+ai and 5asik manufacture multi%
utility vehicles and engines are produced at the gatpuri plant. =tility ;ehicles! Hight
commercial vehicles and 0 "heelers are manufactured at the Paheera+ad plant in Andhra
Fradesh and three%"heelers at the :arid"ar plant. The company has sales offices "ith a
supporting net"ork of dealers throughout the country. 434 also has a presence in the
nternational market.
The 4A of company is Anand , 4ahindra and Current total income of the
company .s. <0(B(<.B 4illion and 5et Frofit .s. <**<' 4illion.-?ear Ending 4arch <1''/.
-Sources """.mahindra.com/
Tata Steel )imited:
Tata Steel is ndia>s largest integrated private sector steel company.
Esta+lished in '(1C! its steel plant at Gamshedpur produces four million tonnes of hot and
cold rolled flat and long products. Fresent steel production capacity of 01 4illion Tonnes Fer
Annum -4TFA/. The Company is +ack"ard integrated "ith o"ned iron ore mines and
4S54 BESA5T 02
collieries. Tata Steel is among the lo"est cost steel producers in the "orld. The steel ma@or
has "on the Frime 4inister>s Trophy four times. This a"ard is instituted +y the ndian
ministry of steel and a"arded to the country>s +est integrated steel plant. n <111! it +ecame
the first Tata company to "in the G.A Tata N; a"ard! given to the company "ith >"orld
class> operations under the ,roup>s Tata Business Excellence 4odel.
"reas of business:
Apart from the main steel division! Tata Steel>s operations are grouped under strategic profit
centers like7 Bearings Aivision! Ferro Alloys and 4inerals Aivision! Agrico Aivision! Tata
,ro"th Shop -T,S/! Tu+es Aivision 3 #ire Aivision.
The company has a production facility in Gamshedpur "hich manufactures
"elded steel tu+es. The company also has a Ferro chrome plant in $rissa! +earings plant in
#est Bengal and "ire manufacturing facilities in 4aharashtra and Iarnataka. ts marketing
net"ork spans <B cities in ndia and ') countries across the glo+e in 5orth America! Europe!
southern Africa and Asia.
The company is headed +y the Chairman 4r. .atan 5 Tata 3 4A
4r. : 4 5erurkar and Current total income of the company .s. 0120<).C 4illion and 5et
Frofit .s. *2*)*.( 4illion.-?ear Ending 4arch <1''/.
(Source: www.tatasteel.com)
Infosys Technologies )imited :
The ta+le sho"ing the share price! ) "eekly moving average of
nfosys Technologies Himited from 1*%1)%<1'' to <)%''%<1''.
4S54 BESA5T 0(
Chart %:
Chart sho"ing ) #eekly 4oving Average of nfosys Technologies
Himited.
4S54 BESA5T B1
) #eekly 4oving Average of nfosys Technologies Himited
Sl 5o. Aate Share Frice ) #eekly 4oving Average
' 1*O1)O<1'' <!22*.(1
< '0O1)O<1'' <!221.1)
0 <1O1)O<1'' <!2)1.))
B <CO1)O<1'' <!C2C.()
) 10O1*O<1'' <!2'0.)1 <!2B0.C(
* '1O1*O<1'' <!2*'.*1 <!202.C0
C 'CO1*O<1'' <!C*B.B1 <!2').*1
2 <BO1*O<1'' <!2*<.'1 <!2'C.('
( 1'O1CO<1'' <!(0B.01 <!2BC.'2
'1 12O1CO<1'' <!(CC.(1 <!221.1*
'' ')O1CO<1'' <!C01.)) <!2)0.2)
'< <<O1CO<1'' <!2<).0) <!2**.1B
'0 <(O1CO<1'' <!C**.21 <!2B*.(2
'B 1)O12O<1'' <!)(1.)) <!CC2.<0
') '<O12O<1'' <!0CB.B) <!*)C.)B
'* '(O12O<1'' <!<<).B1 <!))*.)'
'C <*O12O<1'' <!<1B.)) <!B0<.0)
'2 1<O1(O<1'' <!0').)) <!0B<.'1
'( 1(O1(O<1'' <!<C'.<1 <!<C2.<0
<1 '*O1(O<1'' <!0(0.B1 <!<2<.1<
<' <0O1(O<1'' <!0B1.'1 <!01B.(*
<< 01O1(O<1'' <!)00.21 <!0C1.2'
<0 1CO'1O<1'' <!)1C.1) <!B1(.''
<B 'BO'1O<1'' <!CBB.*) <!)10.21
<) <'O'1O<1'' <!C<<.C1 <!)*(.**
<* <2O'1O<1'' <!2)(.*) <!*C0.)C
<C 1BO''O<1'' <!2<(.'1 <!C0<.*0
<2 ''O''O<1'' <!CC).*1 <!C2*.0B
<( '2O''O<1'' <!C0(.)1 <!C2).0'
01 <)O''O<1'' <!*11.*1 <!C*1.2(
Interpretation:
This chart covers 01 "eeks from 1*%1)%<1'' through <)%''%<1''. The moving
average line itself starts in the first "eek of Gune. n the +eginning the moving average line is
@ust a normal. Hater on the chart starts to sho" do"n"ard trend and it is looking a +ear
market. As the stock price intersects the moving average line from +elo" and share price line
is in do"n"ard! so it is advised to sell the stock as there may +e further falling in price in the
short term.
#eliance Industries )imited :
4S54 BESA5T B'
.eliance ndustries Himited from 1*%1)%<1'' to <)%''%<1''.
Chart &:
4S54 BESA5T B<
) #eekly 4oving Average of .eliance ndustries Himited
' 1*O1)O<1'' ()).B1
< '0O1)O<1'' (B2.*)
0 <1O1)O<1'' (<'.B1
B <CO1)O<1'' (B*.01
) 10O1*O<1'' (0*.') (B'.)2
* '1O1*O<1'' (BB.11 (0(.01
C 'CO1*O<1'' 2*2.B1 (<0.<)
2 <BO1*O<1'' 2C1.B1 ('0.1)
( 1'O1CO<1'' 2*<.') 2(*.<<
'1 12O1CO<1'' 2)B.B1 2C(.2C
'' ')O1CO<1'' 2C0.01 2*).C)
'< <<O1CO<1'' 2C0.*1 2**.C(
'0 <(O1CO<1'' 2<C.C1 2)2.<)
'B 1)O12O<1'' C('.*) 2BB.')
') '<O12O<1'' C*1.21 2<).B0
'* '(O12O<1'' C0'.<1 C(C.1'
'C <*O12O<1'' C'(.)1 C**.'(
'2 1<O1(O<1'' 21).B1 C)<.))
'( 1(O1(O<1'' 2<).'1 C)<.10
<1 '*O1(O<1'' 2<C.B) C*).0*
<' <0O1(O<1'' CC1.C) CC0.<C
<< 01O1(O<1'' 212.01 C('.10
<0 1CO'1O<1'' 21'.B) 21C.B<
<B 'BO'1O<1'' 2**.21 2'(.C1
<) <'O'1O<1'' 20).B1 2<'.<(
<* <2O'1O<1'' 2(2.11 2B*.CB
<C 1BO''O<1'' 2C(.*1 2*'.11
<2 ''O''O<1'' 220.2) 2CC.B2
<( '2O''O<1'' 212.1) 2*).C0
01 <)O''O<1'' C)B.11 2B(.B)
Chart sho"ing ) #eekly 4oving Average of .eliance ndustries
Himited.
Interpretation:
is in do"n"ard! so it is advised to sell the stock as there may +e further falling in price the
short term
. And first clear +uying signal happens in '
st
"eek of August and first sell signal
happens in the month of Gune and 5ovem+er second "eek.
IT' )imited :
4S54 BESA5T B0
TC Himited from 1*%1)%<1'' to <)%''%<1''.
Chart ' :
Chart sho"ing ) #eekly 4oving Average of TC Himited
4S54 BESA5T BB
) #eekly 4oving Average of TC Himited
' 1*O1)O<1'' '20.B)
< '0O1)O<1'' '2(.)1
0 <1O1)O<1'' '2).21
B <CO1)O<1'' '2(.'1
) 10O1*O<1'' '(0.)) '22.<2
* '1O1*O<1'' '('.*) '2(.(<
C 'CO1*O<1'' '('.2) '('.10
2 <BO1*O<1'' '().1) '(<.22
( 1'O1CO<1'' <1'.C1 '().B1
'1 12O1CO<1'' <11.<) '(*.CB
'' ')O1CO<1'' <1'.01 '(2.*C
'< <<O1CO<1'' <1C.01 <1'.C*
'0 <(O1CO<1'' <12.01 <1B.<)
'B 1)O12O<1'' '(*.)1 <10.<'
') '<O12O<1'' '(2.01 <1<.2<
'* '(O12O<1'' '(2.2) <1<.00
'C <*O12O<1'' '(*.2) <11.<B
'2 1<O1(O<1'' <10.<1 '((.<<
'( 1(O1(O<1'' '(C.C1 '((.B*
<1 '*O1(O<1'' '(2.'1 '((.B<
<' <0O1(O<1'' '('.*1 '(C.(C
<< 01O1(O<1'' '(C.2) '(2.'C
<0 1CO'1O<1'' '((.<1 '(C.)C
<B 'BO'1O<1'' <1).'1 '((.1)
<) <'O'1O<1'' <10.*) <11.'*
<* <2O'1O<1'' <').') <1B.2C
<C 1BO''O<1'' <'1.0) <1C.0C
<2 ''O''O<1'' <'<.2) <'1.'1
<( '2O''O<1'' <1<.') <1(.)'
01 <)O''O<1'' '(<.<) <1C.<0
Interpretation:
This chart covers 01 "eeks from 1*%1)%<1'' through <)%''%<1''. The
moving average line itself starts in the first "eek of Gune. n the +eginning the moving
average line is @ust a normal. Hater on the chart starts to sho" do"n"ard trend and it is
looking a +ullish trend. As the stock price intersects the moving average line from +elo" it is
advised to +uy the stock as there is further rise in price and it is +ullish trend in the short term
and sell it "hen prices is high.
And first clear +uying signal happens in <0
rd
Septem+er and first sell signal
happens in <2
th
$cto+er.
!D&' )imited :
4S54 BESA5T B)
:AFC Himited from 1*%1)%<1'' to <)%''%<1''.
4S54 BESA5T B*
) #eekly 4oving Average of :AFC Himited
' 1*O1)O<1'' **B.C)
< '0O1)O<1'' *B*.C)
0 <1O1)O<1'' *)2.'1
B <CO1)O<1'' *)*.01
) 10O1*O<1'' *)(.C1 *)C.'<
* '1O1*O<1'' *)1.() *)B.0*
C 'CO1*O<1'' *0(.') *)<.2B
2 <BO1*O<1'' ***.() *)B.*'
( 1'O1CO<1'' C1'.C) **0.C1
'1 12O1CO<1'' C''.() *CB.')
'' ')O1CO<1'' *(0.B) *2<.*)
'< <<O1CO<1'' C1*.1) *(*.10
'0 <(O1CO<1'' *22.)1 C11.0B
'B 1)O12O<1'' ***.*1 *(0.0'
') '<O12O<1'' *C1.11 *2B.(<
'* '(O12O<1'' *02.21 *C0.((
'C <*O12O<1'' *<'.B1 *)C.1*
'2 1<O1(O<1'' *)(.2) *)'.00
'( 1(O1(O<1'' **1.*1 *)1.'0
<1 '*O1(O<1'' **1.B) *B2.<<
<' <0O1(O<1'' *<).() *B).*)
<< 01O1(O<1'' *0(.<) *B(.<<
<0 1CO'1O<1'' *B).'1 *B*.<C
<B 'BO'1O<1'' ***.0) *BC.B<
<) <'O'1O<1'' *0B.<) *B<.'2
<* <2O'1O<1'' *2*.(1 *)B.0C
<C 1BO''O<1'' *2<.(1 **0.'1
<2 ''O''O<1'' **2.1) **C.*(
<( '2O''O<1'' *B0.0) **0.1(
01 <)O''O<1'' *'0.<1 *)2.22
Chart ( :
Chart sho"ing ) #eekly 4oving Average of :AFC Himited.
Interpretation:
@ust do"nside. Hater on the chart starts to sho" up"ard trend and it is continuously
fluctuating. t is looking a +ullish trend. As the stock price intersects the moving average line
from +elo" it is advised to +uy the stock as there is further rise in price and it is +ullish trend
in the short term and sell it "hen prices is high.
And first clear +uying signal happens in 'C
th
Gune and first sell signal happens in 2
th

Guly.

I'I'I Bank :
4S54 BESA5T BC
CC Bank from 1*%1)%<1'' to <)%''%<1''
Chart ) :
Chart sho"ing ) #eekly 4oving Average of CC Bank.
4S54 BESA5T B2
) #eekly 4oving Average of CC Bank
' 1*O1)O<1'' '!12'.0)
< '0O1)O<1'' '!1C).C1
0 <1O1)O<1'' '!1BB.<)
B <CO1)O<1'' '!1*(.11
) 10O1*O<1'' '!1B2.21 '!1*0.2<
* '1O1*O<1'' '!10B.() '!1)B.)B
C 'CO1*O<1'' '!10'.B) '!1B).*(
2 <BO1*O<1'' '!1*).<) '!1B(.2(
( 1'O1CO<1'' '!1(B.C1 '!1)).10
'1 12O1CO<1'' '!1*1.11 '!1)C.<C
'' ')O1CO<1'' '!1*1.1) '!1*<.<(
'< <<O1CO<1'' '!1*2.01 '!1*(.**
'0 <(O1CO<1'' '!10C.C) '!1*B.'*
'B 1)O12O<1'' (**.'1 '!102.BB
') '<O12O<1'' (0(.21 '!1'B.B1
'* '(O12O<1'' 200.') (*(.1<
'C <*O12O<1'' 2<1.') ('(.0(
'2 1<O1(O<1'' 22C.<1 22(.<2
'( 1(O1(O<1'' 2(*.B1 2C).0B
<1 '*O1(O<1'' 221.() 2)*.0'
<' <0O1(O<1'' 2BB.*) 2)2.*'
<< 01O1(O<1'' 2C).0) 2*(.*)
<0 1CO'1O<1'' 2<B.01 2)C.1C
<B 'BO'1O<1'' 2(1.B) 2)).22
<) <'O'1O<1'' 2C1.0) 2)0.C*
<* <2O'1O<1'' (0<.() 2C'.B<
<C 1BO''O<1'' 22).<1 2C0.0(
<2 ''O''O<1'' 2<<.)1 2C0.10
<( '2O''O<1'' CC1.') 2B2.(C
01 <)O''O<1'' C'(.B1 2'2.C2
Interpretation:
short term.
And first clear sell signal happens in the month of Guly second "eek.
!D&' Bank :
:AFC Bank from 1*%1)%<1'' to <)%''%<1''.
4S54 BESA5T B(
Chart *:
Chart sho"ing ) #eekly 4oving Average of :AFC Bank.
Interpretation:
average line itself starts in the first "eek of Gune. n the +eginning of the first < month
4S54 BESA5T )1
) #eekly 4oving Average of :AFC Bank
' 1*O1)O<1'' <!<((.')
< '0O1)O<1'' <!<)B.B)
0 <1O1)O<1'' <!0'*.11
B <CO1)O<1'' <!<(2.')
) 10O1*O<1'' <!0B(.() <!010.)B
* '1O1*O<1'' <!0)(.'1 <!0').)0
C 'CO1*O<1'' <!0)1.() <!00B.20
2 <BO1*O<1'' <!02'.B) <!0BC.(<
( 1'O1CO<1'' <!B(*.(1 <!02C.*C
'1 12O1CO<1'' <!))2.<1 <!B<(.0<
'' ')O1CO<1'' )1(.11 <!1)(.01
'< <<O1CO<1'' )1'.B1 '!*2(.0(
'0 <(O1CO<1'' B2C.B1 '!0'1.)2
'B 1)O12O<1'' BC0.<) (1).2)
') '<O12O<1'' B*2.<) B2C.2*
'* '(O12O<1'' B*'.() BC2.B)
'C <*O12O<1'' B02.C1 B*).('
'2 1<O1(O<1'' BC'.') B*<.**
'( 1(O1(O<1'' BC<.C) B*<.)*
<1 '*O1(O<1'' B20.*) B*).*B
<' <0O1(O<1'' B)C.*) B*B.C2
<< 01O1(O<1'' B*C.<) BC1.B(
<0 1CO'1O<1'' BB(.21 B**.<<
<B 'BO'1O<1'' BCB.') B**.)1
<) <'O'1O<1'' B2*.01 B*C.10
<* <2O'1O<1'' B2<.)1 BC<.11
<C 1BO''O<1'' B2<.'1 BCB.(C
<2 ''O''O<1'' B*0.() BCC.21
<( '2O''O<1'' B)C.C1 BCB.)'
01 <)O''O<1'' B0'.)1 B*0.))
moving average line is @ust raised. Hater on the chart starts to sho" do"n"ard trend. t is
looking a +ear market. As the stock price intersects the moving average line from +elo" and
share price line is in do"n"ard! so it is advised to sell the stock as there may +e further
falling in price the short term.
) < T )imited :
The ta+le sho"ing the share price! ) "eekly moving average of H 3 T
Himited from 1*%1)%<1'' to <)%''%<1''.
4S54 BESA5T )'
4S54 BESA5T )<
) #eekly 4oving Average of H 3 T Himited
' 1*O1)O<1'' '!)BB.B)
< '0O1)O<1'' '!)<2.21
0 <1O1)O<1'' '!*)'.(1
B <CO1)O<1'' '!*02.01
) 10O1*O<1'' '!C''.(1 '!*'C.1C
* '1O1*O<1'' '!*(0.C1 '!*B*.(<
C 'CO1*O<1'' '!*C(.21 '!*CC.'<
2 <BO1*O<1'' '!C0(.11 '!*(B.)B
( 1'O1CO<1'' '!21C.C) '!CB2.B0
'1 12O1CO<1'' '!20).') '!C)0.12
'' ')O1CO<1'' '!2'2.11 '!CCC.(B
'< <<O1CO<1'' '!2<).)1 '!21C.12
'0 <(O1CO<1'' '!C<).() '!21B.BC
'B 1)O12O<1'' '!*0(.() '!CC1.('
') '<O12O<1'' '!*B0.<1 '!C0<.)<
'* '(O12O<1'' '!)BB.() '!*CC.('
'C <*O12O<1'' '!)0'.0) '!*'(.12
'2 1<O1(O<1'' '!*1(.0) '!)().C*
'( 1(O1(O<1'' '!*2(.() '!*1).C*
<1 '*O1(O<1'' '!*1(.*1 '!)((.1B
<' <0O1(O<1'' '!B)<.<) '!)21.)1
<< 01O1(O<1'' '!0)2.<1 '!)B).2C
<0 1CO'1O<1'' '!0(0.B) '!)1<.*(
<B 'BO'1O<1'' '!B1C.21 '!BB*.<*
<) <'O'1O<1'' '!00*.11 '!0('.)B
<* <2O'1O<1'' '!B'0.<) '!020.CB
<C 1BO''O<1'' '!0(<.2) '!0(1.*C
<2 ''O''O<1'' '!001.*) '!0C2.''
<( '2O''O<1'' '!<B0.11 '!0B).')
01 <)O''O<1'' '!<*).21 '!00'.''
Chart +:
Chart sho"ing ) #eekly 4oving Average of H 3 T Himited.
4S54 BESA5T )0
Interpretation:
@ust up"ard up to August. Hater on the chart starts to sho" do"n"ard trend and it is
continuously falling. t is looking a +ear market. As the stock price intersects the moving
average line from +elo" and share price line is in do"n"ard! so it is advised to sell the stock
as there may +e further falling in price the short term.
And first clear +uying signal happens in the month of 5ovem+er and first sell signal
happens in the month of Guly second "eek.
Tata 'onsultancy Ser-ices )imited :
4S54 BESA5T )B
Tata Consultancy Services Himited from 1*%1)%<1'' to <)%''%<1''.
Chart , :
Chart sho"ing ) #eekly 4oving Average of Tata Consultancy
Himited.
4S54 BESA5T ))
) #eekly 4oving Average of Tata Consultancy Services Himited
' 1*O1)O<1'' '!'BB.))
< '0O1)O<1'' '!'<C.C1
0 <1O1)O<1'' '!'C*.B1
B <CO1)O<1'' '!'B'.B)
) 10O1*O<1'' '!')0.') '!'B2.*)
* '1O1*O<1'' '!'22.*) '!')C.BC
C 'CO1*O<1'' '!''1.)1 '!')B.10
2 <BO1*O<1'' '!'0*.<1 '!'B).((
( 1'O1CO<1'' '!'2*.0) '!')<.*0
'1 12O1CO<1'' '!'C'.)1 '!')*.01
'' ')O1CO<1'' '!'B2.1) '!'B2.'2
'< <<O1CO<1'' '!'0<.C1 '!')<.*<
'0 <(O1CO<1'' '!'0B.B) '!')<.<C
'B 1)O12O<1'' '!1)*.C1 '!'<*.0B
') '<O12O<1'' ()'.<1 '!12<.<2
'* '(O12O<1'' (<(.21 '!102.*0
'C <*O12O<1'' (B(.') '!11'.(<
'2 1<O1(O<1'' '!1<'.*) (C(.0*
'( 1(O1(O<1'' '!1').() (C'.<'
<1 '*O1(O<1'' '!1<(.<1 (2*.2'
<' <0O1(O<1'' (('.B1 (((.'0
<< 01O1(O<1'' '!10C.)1 '!1'*.21
<0 1CO'1O<1'' '!1B2.C1 '!1<<.<'
<B 'BO'1O<1'' '!'0B.)1 '!102.C<
<) <'O'1O<1'' '!1B2.<) '!1B<.)0
<* <2O'1O<1'' '!''(.*) '!1*2.'2
<C 1BO''O<1'' '!1((.'1 '!121.)1
<2 ''O''O<1'' '!'01.21 '!1(*.(<
<( '2O''O<1'' '!122.1) '!12C.*0
01 <)O''O<1'' '!1*<.() '!1(1.)C
Interpretation:
short term.
And first clear +uying signal happens in third "eek of August and first sell signal
happens in the month of Gune second "eek..
.
State Bank $f India :
4S54 BESA5T )*
State Bank of ndia from 1*%1)%<1'' to <)%''%<1''.
Chart -:
Chart sho"ing ) #eekly 4oving Average of SB Bank.
4S54 BESA5T )C
) #eekly 4oving Average of State Bank of ndia
' 1*O1)O<1'' <!*B<.()
< '0O1)O<1'' <!*B(.1)
0 <1O1)O<1'' <!0<<.1)
B <CO1)O<1'' <!<0B.)1
) 10O1*O<1'' <!0'<.21 <!B0<.<C
* '1O1*O<1'' <!<B<.() <!0)<.<C
C 'CO1*O<1'' <!<''.'1 <!<*B.*2
2 <BO1*O<1'' <!<22.') <!<)C.(1
( 1'O1CO<1'' <!B<'.'1 <!<().<<
'1 12O1CO<1'' <!BC2.*) <!0<2.0(
'' ')O1CO<1'' <!BC1.() <!0C0.((
'< <<O1CO<1'' <!B(B.1) <!B01.)2
'0 <(O1CO<1'' <!0B<.11 <!BB'.0)
'B 1)O12O<1'' <!<0<.2) <!B10.C1
') '<O12O<1'' <!'(0.B) <!0B*.**
'* '(O12O<1'' <!10(.(1 <!<*1.B)
'C <*O12O<1'' '!222.C) <!'0(.0(
'2 1<O1(O<1'' '!((0.(1 <!1*(.CC
'( 1(O1(O<1'' '!()B.(1 <!1'B.'2
<1 '*O1(O<1'' '!(B).)) '!(*B.*1
<' <0O1(O<1'' '!()).)1 '!(BC.C<
<< 01O1(O<1'' '!(''.'1 '!()<.'(
<0 1CO'1O<1'' '!C)'.2) '!(10.C2
<B 'BO'1O<1'' '!22<.)1 '!22(.01
<) <'O'1O<1'' '!(B2.*1 '!22(.('
<* <2O'1O<1'' '!(1C.11 '!221.<'
<C 1BO''O<1'' '!(*B.<) '!2(1.2B
<2 ''O''O<1'' '!C(C.*) '!(11.11
<( '2O''O<1'' '!C<).)1 '!2*2.*1
01 <)O''O<1'' '!*(1.C1 '!2'C.1<
Interpretation:
This chart covers 01 "eeks from 1*%1)%<1'' through <)%''%<1''. The moving average line
itself starts in the first "eek of Gune. The chart starts to sho" do"n"ard trend and it is
looking a +ear market. As the stock price intersects the moving average line from +elo" and
share price line is in do"n"ard! so it is advised to sell the stock as there may +e further
falling in price the short term.
And first clear sell signal happens in the month of Guly.
Bharti "irtel )imited :
4S54 BESA5T )2
Bharti Airtel Himited from 1*%1)%<1'' to <)%''%<1''.
Chart %.:
Chart sho"ing ) #eekly 4oving Average of Bharti Airtel Himited.
4S54 BESA5T )(
) #eekly 4oving Average of Bharti Airtel Himited
' 1*O1)O<1'' 0)1.C)
< '0O1)O<1'' 0*C.<1
0 <1O1)O<1'' 0C0.C1
B <CO1)O<1'' 0C<.<)
) 10O1*O<1'' 0C2.B) 0*2.BC
* '1O1*O<1'' 0C0.(1 0C0.1*
C 'CO1*O<1'' 021.0) 0C).*(
2 <BO1*O<1'' 0('.0) 0C(.<<
( 1'O1CO<1'' 020.B) 02'.B*
'1 12O1CO<1'' 0(2.'1 02).0(
'' ')O1CO<1'' 0(<.*1 02(.'0
'< <<O1CO<1'' B'1.() 0().<)
'0 <(O1CO<1'' B0C.11 B1B.02
'B 1)O12O<1'' B').') B'1.C<
') '<O12O<1'' 02(.01 B12.(*
'* '(O12O<1'' 020.)1 B1C.'B
'C <*O12O<1'' 0(2.C) B1B.C1
'2 1<O1(O<1'' B12.*) 0((.10
'( 1(O1(O<1'' B11.0) 0(*.1C
<1 '*O1(O<1'' 02).2) 0().02
<' <0O1(O<1'' 0CB.2) 0(0.*)
<< 01O1(O<1'' 0C2.'1 02(.)<
<0 1CO'1O<1'' 0)B.21 0C2.C)
<B 'BO'1O<1'' 020.C) 0C).B0
<) <'O'1O<1'' 0CC.(1 0C0.2B
<* <2O'1O<1'' 0('.2) 0CC.<B
<C 1BO''O<1'' 0(C.() 02'.<'
<2 ''O''O<1'' 0().)1 02(.0)
<( '2O''O<1'' 0(C.*) 0(<.'0
01 <)O''O<1'' 0CB.(1 0('.)0
Interpretation:
average line itself starts in the first "eek of Gune. The chart sho"ing up"ard trend and it is
looking a +ull market. As the stock price intersects the moving average line from +elo"! it is
advised to +uy the stock as there may +e further rise in price the short term. And sell it "hen
prices are high.
And first clear +uying signal happens in '
st
"eek of $cto+er.

!industan /nile-er )imited :
4S54 BESA5T *1
:industan =nilever Himited from 1*%1)%<1'' to <)%''%<1''.
Chart %%:
4S54 BESA5T *'
) #eekly 4oving Average of :industan =nilever Himited
' 1*O1)O<1'' <CB.C1
< '0O1)O<1'' 01*.B)
0 <1O1)O<1'' 0'1.1)
B <CO1)O<1'' 01<.B)
) 10O1*O<1'' 0'2.01 01<.0(
* '1O1*O<1'' 0''.0) 01(.C<
C 'CO1*O<1'' 0<'.1) 0'<.*B
2 <BO1*O<1'' 0<B.'1 0').B)
( 1'O1CO<1'' 00*.C) 0<<.0'
'1 12O1CO<1'' 00B.11 0<).B)
'' ')O1CO<1'' 0<(.)1 0<(.12
'< <<O1CO<1'' 000.(1 00'.*)
'0 <(O1CO<1'' 0<0.() 00'.*<
'B 1)O12O<1'' 0'2.B1 0<C.()
') '<O12O<1'' 0').*) 0<B.<2
'* '(O12O<1'' 0').1) 0<'.0(
'C <*O12O<1'' 0'2.() 0'2.B1
'2 1<O1(O<1'' 0<1.01 0'C.*C
'( 1(O1(O<1'' 000.<) 0<1.*B
<1 '*O1(O<1'' 0B1.1) 0<).)<
<' <0O1(O<1'' 00'.11 0<2.C'
<< 01O1(O<1'' 0B1.<) 00<.(C
<0 1CO'1O<1'' 0<(.<1 00B.C)
<B 'BO'1O<1'' 00<.'1 00B.)<
<) <'O'1O<1'' 0<*.'1 00'.C0
<* <2O'1O<1'' 0B(.B) 00).B<
<C 1BO''O<1'' 0C2.2) 0B0.'B
<2 ''O''O<1'' 0(*.') 0)*.)0
<( '2O''O<1'' 0(1.2) 0*2.<2
01 <)O''O<1'' 0C).<1 0C2.'1
Chart sho"ing ) #eekly 4oving Average of :industan =nilever
Himited.
Interpretation:
average line itself starts in the first "eek of Gune. The chart sho"ing up"ard trend and it is
looking a +ull market. As the stock price intersects the moving average line from +elo"! it is
advised to +uy the stock as there may +e further rise in price the short term. And sell it "hen
prices are high.
And first clear +uying signal happens in last "eek of 4ay. And second clear +uying
signal happens in second "eek of august.

Tata %otors )imited :
4S54 BESA5T *<
Tata 4otors Himited from 1*%1)%<1'' to <)%''%<1''.
Chart %&:
Chart sho"ing ) #eekly 4oving Average of Tata 4otors Himited.
4S54 BESA5T *0
) #eekly 4oving Average of Tata 4otors Himited
' 1*O1)O<1'' '!<11.()
< '0O1)O<1'' '!<'1.(1
0 <1O1)O<1'' '!'*2.21
B <CO1)O<1'' '!122.*)
) 10O1*O<1'' '!1<).'1 ''02.22
* '1O1*O<1'' '!1'(.C) ''1<.*B
C 'CO1*O<1'' (21.21 '1)*.*<
2 <BO1*O<1'' (*B.*) '1').C(
( 1'O1CO<1'' ((B.)1 ((*.((
'1 12O1CO<1'' '!1)0.01 '11<.*0
'' ')O1CO<1'' '!10*.') '11).('
'< <<O1CO<1'' ((*.2) '11(.'<
'0 <(O1CO<1'' (BC.B1 '11).*C
'B 1)O12O<1'' 22(.)1 (2B.*C
') '<O12O<1'' 21'.'1 (0B.<0
'* '(O12O<1'' C'0.B1 2*(.*2
'C <*O12O<1'' *((.<1 2'1.')
'2 1<O1(O<1'' C)).'1 CC'.*(
'( 1(O1(O<1'' C*0.*1 CB*.)'
<1 '*O1(O<1'' '*'.C1 *'2.*0
<' <0O1(O<1'' 'BC.B1 B2C.2(
<< 01O1(O<1'' ')*.'1 0C*.B0
<0 1CO'1O<1'' ')2.21 <*2.0)
<B 'BO'1O<1'' 'C(.(1 ')0.0'
<) <'O'1O<1'' 'CC.() ')B.2*
<* <2O'1O<1'' <1*.<1 '**.*<
<C 1BO''O<1'' '22.11 'C0.11
<2 ''O''O<1'' '2'.C1 'CC.)2
<( '2O''O<1'' 'C1.01 'C).**
01 <)O''O<1'' 'C'.21 'CB.B0
Interpretation:
average line itself starts in the first "eek of Gune. The chart starts to sho" do"n"ard trend
and it is looking a +ear market. As the stock price intersects the moving average line from
+elo" and share price line is in do"n"ard! so it is advised to sell the stock as there may +e
further falling in price the short term.
And first clear sell signal happens in the month of 4ay second "eek. And also
second "eek of Guly.

$NG' :
4S54 BESA5T *B
$5,C from 1*%1)%<1'' to <)%''%<1''.
Chart %':
Chart sho"ing ) #eekly 4oving Average of $5,C Himited.
4S54 BESA5T *)
) #eekly 4oving Average of $5,C
' 1*O1)O<1'' 01).()
< '0O1)O<1'' 01B.C1
0 <1O1)O<1'' <CB.1)
B <CO1)O<1'' <20.11
) 10O1*O<1'' <C(.() <2(.)0
* '1O1*O<1'' <**.(1 <2'.C<
C 'CO1*O<1'' <*).'1 <C0.21
2 <BO1*O<1'' <C<.21 <C0.))
( 1'O1CO<1'' <C*.01 <C<.<'
'1 12O1CO<1'' <C*.<1 <C'.B2
'' ')O1CO<1'' <C2.') <C0.C0
'< <<O1CO<1'' <C(.C) <C*.**
'0 <(O1CO<1'' <*2.*) <C).20
'B 1)O12O<1'' <C*.'1 <C).2'
') '<O12O<1'' <C(.01 <C*.B0
'* '(O12O<1'' <C).C) <C).()
'C <*O12O<1'' <C2.11 <C).*1
'2 1<O1(O<1'' <*0.(1 <CB.*)
'( 1(O1(O<1'' <*'.2) <C'.21
<1 '*O1(O<1'' <CB.C1 <C1.22
<' <0O1(O<1'' <)C.21 <*C.<(
<< 01O1(O<1'' <*).C1 <*B.20
<0 1CO'1O<1'' <*B.B) <*B.(B
<B 'BO'1O<1'' <**.*) <*).(1
<) <'O'1O<1'' <*).B1 <*B.1B
<* <2O'1O<1'' <2B.*1 <*(.B1
<C 1BO''O<1'' <CC.*) <C'.C(
<2 ''O''O<1'' <*).21 <C<.1*
<( '2O''O<1'' <)(.<) <C1.)2
01 <)O''O<1'' <)'.2) <*C.2C
Interpretation:
average line itself starts in the first "eek of Gune. The chart starts to sho" do"n"ard trend
and it is looking a +ear market. As the stock price intersects the moving average line from
+elo" and share price line is in do"n"ard! so it is advised to sell the stock as there may +e
further falling in price the short term.
And first clear sell signal happens in the month of $cto+er last "eek.
%ahindra < %ahindra )imited :
4S54 BESA5T **
4ahindra 3 4ahindra Himited from 1*%1)%<1'' to <)%''%<1''.
Chart %(:
Chart sho"ing ) #eekly 4oving Average of 4ahindra 3 4ahindra
Himited.
4S54 BESA5T *C
) #eekly 4oving Average of 4ahindra 3 4ahindra Himited
' 1*O1)O<1'' C'<.))
< '0O1)O<1'' *('.(1
0 <1O1)O<1'' *(1.C1
B <CO1)O<1'' C1<.'1
) 10O1*O<1'' **C.<1 *(<.2(
* '1O1*O<1'' **<.<) *2<.20
C 'CO1*O<1'' *BB.() *C0.BB
2 <BO1*O<1'' *C<.<1 **(.CB
( 1'O1CO<1'' *('.01 **C.)2
'1 12O1CO<1'' C'*.2) *CC.)'
'' ')O1CO<1'' C'2.2) *22.20
'< <<O1CO<1'' C<<.(1 C1B.B<
'0 <(O1CO<1'' C'2.<) C'0.*0
'B 1)O12O<1'' *)).11 C1*.0C
') '<O12O<1'' CB1.01 C''.1*
'* '(O12O<1'' C'(.'1 C''.''
'C <*O12O<1'' C1B.*) C1C.B*
'2 1<O1(O<1'' C**.'1 C'C.10
'( 1(O1(O<1'' C('.01 CBB.<(
<1 '*O1(O<1'' C(C.2) C)).21
<' <0O1(O<1'' CC*.01 C*C.<B
<< 01O1(O<1'' 21<.)) C2*.2<
<0 1CO'1O<1'' C().() C(<.C(
<B 'BO'1O<1'' 21).*1 C().*)
<) <'O'1O<1'' 21'.'1 C(*.01
<* <2O'1O<1'' 2*2.)1 2'B.CB
<C 1BO''O<1'' 20).1) 2<'.<B
<2 ''O''O<1'' 202.B1 2<(.C0
<( '2O''O<1'' C0C.21 2'*.'C
01 <)O''O<1'' C1*.01 C(C.<'
Interpretation:
This chart covers 01 "eeks from 1*%1)%<1'' through <)%''%<1''. The
moving average line itself starts in the first "eek of Gune. The chart sho"ing up"ard trend
and it is looking a +ull market. As the stock price intersects the moving average line from
+elo"! it is advised to +uy the stock as there may +e further rise in price the short term. And
sell it "hen prices are high.
And first clear +uying signal happens in last "eek of $cto+er.

Tata Steel )imited :
4S54 BESA5T *2
Tata Steel Himited from 1*%1)%<1'' to <)%''%<1''.
Chart %) :
Chart sho"ing ) #eekly 4oving Average of Tata Steel Himited.
4S54 BESA5T *(
) #eekly 4oving Average of Tata Steel Himited
' 1*O1)O<1'' )(B.1)
< '0O1)O<1'' )(B.11
0 <1O1)O<1'' )C2.0)
B <CO1)O<1'' )2).0)
) 10O1*O<1'' )C0.)1 )2).1)
* '1O1*O<1'' )*(.<1 )21.12
C 'CO1*O<1'' )C<.<) )C).C0
2 <BO1*O<1'' )C2.*) )C).C(
( 1'O1CO<1'' *1<.11 )C(.'<
'1 12O1CO<1'' )(B.B) )20.0'
'' ')O1CO<1'' )C0.01 )2B.'0
'< <<O1CO<1'' )2B.01 )2*.)B
'0 <(O1CO<1'' )*).'1 )20.20
'B 1)O12O<1'' )0<.(1 )C1.1'
') '<O12O<1'' BC*.0) )B*.0(
'* '(O12O<1'' B)(.<1 )<0.)C
'C <*O12O<1'' B<<.<) B('.'*
'2 1<O1(O<1'' B22.)1 BC).2B
'( 1(O1(O<1'' BC*.() B*B.*)
<1 '*O1(O<1'' B)(.C) B*'.00
<' <0O1(O<1'' B0<.01 B)).()
<< 01O1(O<1'' B').<) B)B.))
<0 1CO'1O<1'' B'(.*1 BB1.CC
<B 'BO'1O<1'' B02.B1 B00.1*
<) <'O'1O<1'' B0<.') B<C.)B
<* <2O'1O<1'' B21.*1 B0C.<1
<C 1BO''O<1'' B*C.(1 BBC.C0
<2 ''O''O<1'' B01.11 BB(.2'
<( '2O''O<1'' 0(<.)1 BB1.*0
01 <)O''O<1'' 0CB.'1 B<(.1<
Interpretation:
short term.
And first clear sell signal happens in the month of Guly '
st
"eek. And also '
st
"eek
Septem+er.
#I/0I/1S:
4S54 BESA5T C1
The market is highly volatile and there is al"ays fluctuation in the stock prices along
"ith Sensex ndex.
t has +een o+served from the study that TC! Bharti Airtel Himited! :industan
=nilever Himited and 4ahindra 3 4ahindra Himited )"eekly moving average is
sho"ing up"ard trend! so there "ill +e +ullish trend in the short term of these stocks.
nfosys Technologies Htd! .eliance ndustries Htd! CC Bank! :AFC Bank! H3T!
Tata Consultancy Services! SB! Tata 4otors Htd! and $5,C sho"ing do"n"ard
trend! so there "ill +e +earish trend in the short term.
#hen there is an up"ard trend of a particular stock! speculator +uys the share in order
to sell at a higher price in future.
t is o+served from the study that! the technical analysis tells the investor "hen to
invest and "hen to disinvest.
Hong term investor certainly holds the scrip for long irrespective of "hat the trend
may +e in the short term.
t has +een noticed that there is a "ide fluctuation in the overall financial performance
n the month of Guly most of the company share price "as fall.
S2113STI4/S:
4S54 BESA5T C'
t is advisa+le to +uy the shares of a particular company! "hen the share prices
sho"s a slight up"ard trend and sell it "hen the trend goes do"n.
t is advisa+le to +uy the shares of a particular company! "hen the moving
average line sho"s up"ard trend and sell it "hen the trend sho"s slight
do"n"ard.
The TC! Bharti Airtel Himited! :industan =nilever Himited and 4ahindra 3
4ahindra Himited company as their moving average line is in the up"ard trend in the
short term so! it is advisa+le to +uy the shares of the those company.
t is advisa+le to +uy the shares of a particular company! "hen the moving
average line sho"s up"ard trend and sell it "hen the trend sho"s slight
do"n"ard.
t is advisa+le to use +oth fundamental analysis as "ell as technical analysis for
trading decisions! +ecause "ill reduce errors in forecasting future Frices
A single indictor is not enough for arriving at a selling or +uying decision. A
com+ination of Technical Analysis indicators is re6uired for more accurate decisions.
4S54 BESA5T C<
C4/C52SI4/:
From the study! it can +e concluded that the technical analysis is
"idely accepted "orld"ide and a very useful tools for analysis of share price
+ehavior. The analysis of stock +y moving average method is easy and simple to
understand and is very useful tool for making short term trading decisions.
From the research it is found that TC! Bharti Airtel Himited!
:industan =nilever Himited and 4ahindra 3 4ahindra Himited have up"ard trend and
nfosys Technologies Htd! .eliance ndustries Htd! CC Bank! :AFC Bank! H3T! Tata
Consultancy Services! SB! Tata 4otors Htd! and $5,C have do"n"ard trend in the
short term. The long term trend can +e identified +y calculating 01 "eeks #eekly
moving averages.
The stock market highly volatile and needs more effort to analy&e
the shares and the return on investment! "hich is su+@ect to market risk. So decisions
are taken carefully at right time +efore trading. Even though the technical analysis
may +e useful tool for analysis of stocks! it should +e used in com+ination "ith
fundamental analysis. This is +ecauseK every single ne"s and events happened in the
economy! industry and company have an impact on share prices.
Thus it "as suggested that the usage of technical analysis "ould +e likely to increase
volatility in stock markets. This may sho" that there are potential negative impacts on
society as a "hole of "idespread usage of technical analysis! particularly through a reduction
in physical investment.

4S54 BESA5T C0

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Technical Analysis of BSE Sensex Companys

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