final technical analysis
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TECHNICAL ANALYSIS
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PROJECT REPORT
ON
TECHNICAL ANALYSIS IN ARYAN SECURITIES LTD
(A STUDY ON SELECTED STOCKS)
A project report submitted in partial fulfillment of the requirement for the
award of
Masters Degree in Financial Analysis and Management
University of Mysore
Mysore
Submitted by
Ashwini. H
Reg. No. CM310004
MFAM, IV Semester
Under the guidance of
Dr. B.NAGARAJU M.Com., Ph.D
Associate Professor
DOS in commerce
Manasagangothri, University of Mysore
Mysore
May 2012
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UNIVERSITY OF MYSORE
Department Studies in Commerce
Manasagangothri,Mysore-06
Dr. G. Kotreshwar, M.Com., Ph.d.,
Professor and Chairman May 2012
This is to certify that Ms. ASHWINI.H is a bonafide student of IV
semester, MFAM program of this department. This project report titled
TECHNICAL ANALYSIS IN ARYAN SECURITIES LTD: A STUDY
ON SELECTED STOCKS has been prepared by her, in partial fulfillment
of the requirements ofMFAM program of university of Mysore.
(Dr. G. Kotreshwar)
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UNIVERSITY OF MYSORE
Department Studies in Commerce
Manasagangothri,Mysore-06
Dr. Nagaraju
Associate Professor May 2012
CERTIFICATE
This is to certify that the project titled TECHNICAL ANALYSIS IN
ARYAN SECURITIES LTD: A STUDY ON SELECTED STOCKS
submitted to the university of Mysore in partial fulfillment of the
requirements for the award of Masters Degree in financial analysis and
management. This report is a record of the original work done by Ms.
Ashwini.H, under my supervision and guidance and that this project work has
not formed the basis for the award of any degree / diploma / associateship /
fellowship or similar title of this university or any other university.
Dr. B.NAGARAJU
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DECLARATION
I ASHWINI.H hereby declare that the project entitled TECHNICAL
ANALYSIS IN ARYAN SECURITIES LTD: A STUDY ON SELECTED
STOCKS is prepared by me during the academic year 2011-2012 under the
guidance and supervision of Dr. B. NAGARAJU, Associate professor
Department of studies in commerce, Manasagangothri, university of Mysore,
in partial fulfillment for the award of masters degree in financial analysis and
management [MFAM] from the University of Mysore, Mysore.
Further, I extend my declaration that this project report has not been
presented to any other institute or university for the award of any other
degree, diploma, fellowship or any other similar titles or prizes.
Place: Mysore
Date: May 2012
Reg. No: COM310004 (ASHWINI.H)
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ACKNOWLEDGEMENT
This project could not have been completed without the help, guidance,
suggestions and encouragement of many. I will be failing in my duty if I do
not mention the name of few.
I am extremely grateful to my project guide Dr. B.NAGARAJU, Associate
professor, DOS in commerce, Manasagangothri, university of Mysore, for
this timely and periodical advice, and constant encouragement.
I would like to express my sincere gratitude to Dr. G.KOTRESHWAR,
professor and chairman, department of studies in commerce,Manasagangothri, University of Mysore, for providing me with an
opportunity to undertake this project.
It gives me immense pleasure to express my sincere hanks and profound
sense of gratitude to all the faculty members of DOS in commerce,
University of Mysore, for their much appreciated support and guidance.
I express my sincere thanks to Mr. B.S.SHRIKANTH, Zonal Manager &
Mr. K.R. SOMASHEKAR Branch ManagerofARYAN SHARE AND STOCKBROKERS LIMITED, MYSORE, and his staff for providing the
valuableguidance and encouragementthroughout the completion of
this project and assisting me to bring out this report successfully.
I thank my family members and my friend for their continuous co
operation during my studies.
Last but not least this project would not have been competed withoutthe grace of almighty god.
Place: MYSORE
Date: May 2012 ASHWINI.H
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SL NO. CONTENTSPAGE
NO.
Chapter I Introduction
Chapter 2 Review of Literature
Chapter 3 Company profile
Chapter 4 Industry profile
Chapter 5Analysis and
Interpretation
Chapter 6Summary And
conclusion
Bibliography
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CHAPTER - 1
INTRODUTION
Prices of security in the stock market fluctuate daily on account of
continuous buying and selling. Stock price movie in trends and cycle and are
never stable. An investor in the stock market is interested in buying securities
at low price and selling them at a high price so as to get a good return on his
investment. I would advocate every player who has some interest in stock
should have a working knowledge of technical analysis. Going by the maxim
of knowledge of power, technical studies provided handy tools akin to
versatile Swiss army knife to all players.
Technical analysis is the examination of past price movement of
forecasting future price movement. This theory is applicable to stocks,
indices, or any tradable instrument where the price is influenced by the force
of demand and supply. Price of share is influenced by the many factors. The
volatility in the share price takes please based on speculation and over
sensitiveness and reaction among the investors.
The objectives of project is conduct the technical analysis of stock of
major banking sector, to know the impact of banking stocks and know how
various tools of technical analysis tools used in predicting the future stock
price.
PROBLEM STATEMENT
The above study is undertaken to compare the selected technical
analysis tools available for forecasting. The study tries to capture the
contradicting views of different tools used in technical analysis. This study is
aims to exploration of the topic TECHNICAL ANALYSIS AND ITS
RELEVANCE.
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Technical analysis is one of tools used to analysis stocks to make
decisions (buy, hold and sell) but, technical analysis alone cannot prove to be
device. So, it can be used as a supplement to fundamental analysis.
Technical analysis is very important to invest smartly. Every investor
would like to have handful information to decide:
On what type of security to invest? When it should be bought? When it should be sold? Whether to hold the security?
The basic idea behind the research is to make buy, hold and sell
decisions of stocks. To make this decision one should have sound
information base. The increasing trend towards complexity in investment
decisions calls for security analysis.
OBJECTIVE OF THE STUDY
The objectives of the study are stated as under:-
To learn when to buy, sell and hold the securities. A sample of four istaken for this purpose.
To analyze the recent pattern of price movement and help investor tomake profits.
To know the method of calculating the various technical indicators andto interpret it.
To understand the repetitive trends which reappear in the course oftime.
To analyze the pattern of price
SCOPE OF THE STUDY
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Technical analysis of market data has long been a pervasive activity in
both security and future markets. Technical analyst believe that price and
volume data provide indicators of future price movements, and that by
examining these data, information may be extracted on the fundamentals
driving returns. If markets are efficient in the sense that the current price
impounds all information then such activity is clearly pointless. But if the
process by which prices adjust to information is not immediate, then the
market statistics may impound information that is not yet incorporated in to
the current market price.
1. The study mainly focuses on guiding the investors in makingdecisions (buy, hold or sell) by determine the value of the stocks
through technical analysis.
2. The analysis has been done on five stocks of IT companies listed atNational stock exchange and Bombay stock exchange.
3. Out of various tools of technical analysis only three such tools areused in this study.
4. To help the investor in making decisions based on report.5. Helps to identify trend reversal at an earlier stage to formulate the
buying and selling strategy.
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RESEARCH METHODOLOGY
The type of research design adopted here is both exploratory and
descriptive. This project seeks to describe technical analysis and the
procedure adopted in conducting it.
Technical tools used for the study are
CHARTS:-
1. Line charts.
2. Candle stick.
INDICATORS:-
1. Moving average convergence and divergence (MACD).2. Relative strength index.3. Rate Of Change method.
DATA RESOURCES:-
The study comprises of data collection from primary and secondary
sources. The relevant data were collected from the branch office and from
other well know publications and NSE websites. Analysis of these data has
been done after consulting with various technical analysts and stock market
traders.
SECONDARY DATA:-
The data collected for the research purpose are secondary data. Index prices
were collected through National Stock Exchange website and through
prowess website.
It includes data collected from the following
1. The data regarding index share price was also taken from website:www.nseindia.com.
www.yahoofinance.comindiawww.stockcharts.com
http://www.nseindia.com/http://www.nseindia.com/http://www.yahoofinance.comindia/http://www.yahoofinance.comindia/http://www.stockcharts.com/http://www.stockcharts.com/http://www.stockcharts.com/http://www.yahoofinance.comindia/http://www.nseindia.com/ -
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2. text booksLIMITATIONS OF THE STUDY
The tools used for analysis are limited. Data taken as input pertains to only one year. The analysis is being done only for five companies stocks. The study is only for academic purpose only. The study is too subjective and based on historical interpretations and
may not continue with the same trend.
The conclusion made is based on my limited knowledge
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CHAPTER - 2
THEORETICAL VIEW
1.1INTRODUCTION
The methods used to analyze securities and make investment decisions
fall into two very broad categories: fundamental analysis and technical
analysis. Fundamental analysis involves analyzing the characteristics of a
company in order to estimate its value. Technical analysis takes a completely
different approach; it doesn't care one bit about the "value" of a company or a
commodity. Technicians (sometimes called chartists) are only interested in
the price movements in the market.
Despite all the fancy and exotic tools it employs, technical analysis
really just studies supply and demand in a market in an attempt to determine
what direction, or trend, will continue in the future. In other words, technical
analysis attempts to understand the emotions in the market by studying the
market itself, as opposed to its components. If you understand the benefits
and limitations of technical analysis, it can give you a new set of tools or
skills that will enable you to be a better trader or investor.
In finance, technical analysis is security analysis discipline for
forecasting the direction of prices through the study of past market data,
primarily price and volume. Behavioral economics and quantitative
analysis build on and incorporate many of the same tools of technical
analysis , which, being an aspect ofactive management, stands in
contradiction to much ofmodern portfolio theory. The efficacy of both
technical and fundamental analysis is disputed by hypothesis which states
that stock market prices are essentially unpredictable.
CHARACTERISTICS
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Technical analysis employs models and trading rules based on price and
volume transformations, such as the relative strength index, moving
averages, regressions, inter-market and intra-market price
correlations, business cycles, stock market cycles or, classically, through
recognition of chart patterns.
Technical analysis stands in contrast to the fundamental
analysis approach to security and stock analysis. Technical analysis analyzes
price, volume and other market information, whereas fundamental analysis
looks at the facts of the company, market, currency or commodity. Most
large brokerage, trading group, or financial institutions will typically have
both a technical analysis and fundamental analysis team.
Technical analysis is widely used among traders and financial
professionals and is very often used by active day traders, market makers and
pit traders. In the 1960s and 1970s it was widely dismissed by academics. In
a recent review, Irwin and Park reported that 56 of 95 modern studies found
that it produces positive results but noted that many of the positive results
were rendered dubious by issues such as data snooping, so that the evidence
in support of technical analysis was inconclusive; it is still considered by
many academics to be pseudoscience. Academics such asEugene Famasay
the evidence for technical analysis is sparse and is inconsistent with the weak
form of the efficient-market hypothesis. Users hold that even if technical
analysis cannot predict the future, it helps to identify trading opportunities.
In the foreign exchange markets, its use may be more widespread
than fundamental analysis. This does not mean technical analysis is more
applicable to foreign markets, but that technical analysis is more recognized
as to its efficacy there than elsewhere. While some isolated studies have
indicated that technical trading rules might lead to consistent returns in the
period prior to 1987, most academic work has focused on the nature of the
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anomalous position of the foreign exchange market. It is speculated that this
anomaly is due to central bank intervention, which obviously technical
analysis is not designed to predict.]Recent research suggests that combining
various trading signals into a Combined Signal Approach may be able to
increase profitability and reduce dependence on any single rule Principles
Stock chart showing levels of support (4, 5, 6, 7, and 8) and resistance
(1, 2, and 3); levels of resistance tend to become levels of support and vice
versa.
A fundamental principle of technical analysis is that a market's price
reflects all relevant information, so their analysis looks at the history of a
security's trading pattern rather than external drivers such as economic,
fundamental and news events. Price action also tends to repeat itself because
investors collectively tend toward patterned behavior hence technicians'
focus on identifiable trends and conditions
Market action discounts everything
Based on the premise that all relevant information is already reflected
by prices, technical analysts believe it is important to understand what
investors think of that information, known and perceived.
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Prices move in trends
Technical analysts believe that prices trend directionally, i.e., up,
down, or sideways (flat) or some combination. The basic definition of a price
trend was originally put forward by Dow Theory.
An example of a security that had an apparent trend is AOL from
November 2001 through August 2002. A technical analyst or trend follower
recognizing this trend would look for opportunities to sell this security. AOL
consistently moves downward in price. Each time the stock rose, sellers
would enter the market and sell the stock; hence the "zig-zag" movement in
the price. The series of "lower highs" and "lower lows" is a tell tale sign of a
stock in a down trend.
In other words, each time the stock moved lower, it fell below its
previous relative low price. Each time the stock moved higher, it could not
reach the level of its previous relative high price.
Note that the sequence of lower lows and lower highs did not begin
until August. Then AOL makes a low price that does not pierce the relative
low set earlier in the month. Later in the same month, the stock makes a
relative high equal to the most recent relative high. In this a technician sees
strong indications that the down trend is at least pausing and possibly ending,
and would likely stop actively selling the stock at that point.
.
History tends to repeat itself
Technical analysts believe that investors collectively repeat the
behavior of the investors that preceded them. To a technician, the emotions in
the market may be irrational, but they exist. Because investor behavior
repeats itself so often, technicians believe that recognizable (and predictable)
price patterns will develop on a chart.
Technical analysis is not limited to charting, but it always considers
price trends. For example, many technicians monitor surveys of investorsentiment. These surveys gauge the attitude of market participants,
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specifically whether they are bearish or bullish. Technicians use these
surveys to help determine whether a trend will continue or if a reversal could
develop; they are most likely to anticipate a change when the surveys report
extreme investor sentiment.
Surveys that show overwhelming bullishness, for example, are
evidence that an uptrend may reverse; the premise being that if most
investors are bullish they have already bought the market (anticipating higher
prices). And because most investors are bullish and invested, one assumes
that few buyers remain. This leaves more potential sellers than buyers,
despite the bullish sentiment. This suggests that prices will trend down, and is
an example ofcontrarian trading.
Recently, Kim Man Lui, Lun Hu, and Keith C.C. Chan have suggested
that there is statistical evidence of association relationships between some of
the index composite stocks whereas there is no evidence for such a
relationship between some indexes composite others. They show that the
price behavior of these Hang Seng index composite stocks is easier to
understand than that of the index.
ASSUMPTIONS OF TECHNICAL ANALYSIS
The field of technical analysis is based on three assumptions:
1. The market discounts everything.
2. Price moves in trends.
3. History tends to repeat itself.
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 fundamentalfactors. Technical analysts believe that the company's fundamentals, along
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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,
Types of charts
There are four main types of charts that are used by investors and
traders depending on the information that they are seeking and their
individual skill levels. The chart types are: the line chart, the bar chart, the
candlestick chart and the point and figure chart. In the following sections, we
will focus on the S&P 500 Index during the period of January 2006 through
May 2006. Notice how the data used to create the charts is the same, but the
way the data is plotted and shown in the charts is different.
1. Line Chart
The most basic of the four charts is the line chart because it representsonly the closing prices over a set period of time. The line is formed by
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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.
2. Bar Charts
The bar chart expands on the line chart by adding several more key
pieces of information to each data point. The chart is made up of a series of
vertical lines that represent each data point. This vertical line represents the
high and low for the trading period, along with the closing price. The closeand open are represented on the vertical line by a horizontal dash. The
opening price on a bar chart is illustrated by the dash that is located on the
left side of the vertical bar. Conversely, the close is represented by the dash
on the right. Generally, if the left dash (open) is lower than the right dash
(close) then the bar will be shaded black, representing an up period for the
stock, which means it has gained value. A bar that is colored red signals that
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the stock has gone down in value over that period. When this is the case, the
dash on the right (close) is lower than the dash on the left (open).
3. Candlestick Charts
The candlestickchart is similar to a bar chart, but it differs in the way
that it is visually constructed. Similar to the bar chart, the candlestick also has
a thin vertical line showing the period's trading range. The difference comes
in the formation of a wide bar on the vertical line, which illustrates the
difference between the open and close. And, like bar charts, candlesticks also
rely heavily on the use of colors to explain what has happened during the
trading period. A major problem with the candlestick color configuration,
however, is that different sites use different standards; therefore, it is
important to understand the candlestick configuration used at the chart site
you are working with. There are two color constructs for days up and one for
days that the price falls. When the price of the stock is up and closes above
the opening trade, the candlestick will usually be white or clear. If the stock
has traded down for the period, then the candlestick will usually be red or
black, depending on the site. If the stock's price has closed above the
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previous days close but below the day's open, the candlestick will be black
or filled with the color that is used to indicate an up day.
4. Point and Figure Charts
The point and figure chart is not well known or used by the average
investor but it has had a long history of use dating back to the first technical
traders. This type of chart reflects price movements and is not as concerned
about time and volume in the formulation of the points. The point and figure
chart removes the noise, or insignificant price movements, in the stock,which can distort traders' views of the price trends. These types of charts also
try to neutralize the skewing effect that time has on chart analysis.
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When first looking at a point and figure chart, you will notice a series
of Xs and Os. The Xs represent upward price trends and the Os represent
downward price trends. There are also numbers and letters in the chart; these
represent months, and give investors an idea of the date. Each box on the
chart represents the price scale, which adjusts depending on the price of the
stock: the higher the stock's price the more each box represents. On most
charts where the price is between $20 and $100, a box represents $1, or 1
point for the stock. The other critical point of a point and figure chart is the
reversal criteria. This is usually set at three but it can also be set according to
the chartist's discretion. The reversal criteria set how much the price has to
move away from the high or low in the price trend to create a new trend or, in
other words, how much the price has to move in order for a column of Xs to
become a column of Os, or vice versa. When the price trend has moved from
one trend to another, it shifts to the right, signaling a trend change.
Conclusion
Charts are one of the most fundamental aspects of technical analysis. It
is important that you clearly understand what is being shown on a chart and
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the information that it provides. Now that we have an idea of how charts are
constructed, we can move on to the different types of chart patterns.
Technical Analysis: Moving Averages
Most chart patterns show a lot of variation in price movement. This
can make it difficult for traders to get an idea of a security's overall trend.
One simple method traders use to combat this is to apply moving averages. A
moving average is the average price of a security over a set amount of time.
By plotting a security's average price, the price movement is smoothed out.
Once the day-to-day fluctuations are removed, traders are better able to
identify the true trend and increase the probability that it will work in their
favor.
Types of Moving Averages
There are a number of different types of moving averages that vary in
the way they are calculated, but how each average is interpreted remains the
same. The calculations only differ in regards to the weighting that they place
on the price data, shifting from equal weighting of each price point to more
weight being placed on recent data. The three most common types of moving
averages are simple, linear and exponential.
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Simple Moving Average (SMA)
This is the most common method used to calculate the moving average
of prices. It simply takes the sum of all of the past closing prices over the
time period and divides the result by the number of prices used in the
calculation. For example, in a 10-day moving average, the last 10 closing
prices are added together and then divided by 10. As you can see in Figure 1,
a trader is able to make the average less responsive to changing prices by
increasing the number of periods used in the calculation. Increasing the
number of time periods in the calculation is one of the best ways to gauge the
strength of the long-term trend and the likelihood that it will reverse.
Many individuals argue that the usefulness of this type of average is
limited because each point in the data series has the same impact on the result
regardless of where it occurs in the sequence. The critics argue that the most
recent data is more important and, therefore, it should also have a higher
weighting. This type of criticism has been one of the main factors leading to
the invention of other forms of moving averages.
Linear Weighted Average
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This moving average indicator is the least common out of the three and
is used to address the problem of the equal weighting. The linear weighted
moving average is calculated by taking the sum of all the closing prices over
a certain time period and multiplying them by the position of the data point
and then dividing by the sum of the number of periods. For example, in a
five-day linear weighted average, today's closing price is multiplied by five,
yesterday's by four and so on until the first day in the period range is reached.
These numbers are then added together and divided by the sum of the
multipliers.
Exponential Moving Average (EMA)
This moving average calculation uses a smoothing factor to place a
higher weight on recent data points and is regarded as much more efficient
than the linear weighted average. Having an understanding of the calculation
is not generally required for most traders because most charting packages do
the calculation for you. The most important thing to remember about the
exponential moving average is that it is more responsive to new information
relative to the simple moving average. This responsiveness is one of the key
factors of why this is the moving average of choice among many technical
traders. As you can see in Figure 2, a 15-period EMA rises and falls faster
than a 15-period SMA. This slight difference doesnt seem like much, but it
is an important factor to be aware of since it can affect returns.
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Major Uses of Moving Averages
Moving averages are used to identify current trends and trend reversals
as well as to set up support and resistance levels.
Moving averages can be used to quickly identify whether a security is
moving in an uptrend or a downtrend depending on the direction of the
moving average. As you can see in Figure 3, when a moving average is
heading upward and the price is above it, the security is in an uptrend.Conversely, a downward sloping moving average with the price below can be
used to signal a downtrend.
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Another method of determining momentum is to look at the order of a
pair of moving averages. When a short-term average is above a longer-term
average, the trend is up. On the other hand, a long-term average above a
shorter-term average signals a downward movement in the trend.
Moving average trend reversals are formed in two main ways: when
the price moves through a moving average and when it moves through
moving averagecrossovers. The first common signal is when the price moves
through an important moving average. For example, when the price of a
security that was in an uptrend falls below a 50-period moving average, like
in Figure 4, it is a sign that the uptrend may be reversing.
The other signal of a trend reversal is when one moving average
crosses through another. For example, as you can see in Figure 5, if the 15-
day moving average crosses above the 50-day moving average, it is a positive
sign that the price will start to increase.
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If the periods used in the calculation are relatively short, for
example 15 and 35, this could signal a short-term trend reversal. On the other
hand, when two averages with relatively long time frames cross over (50 and
200, for example), this is used to suggest a long-term shift in trend.
Another major way moving averages are used is to identify support
and resistance levels. It is not uncommon to see a stock that has been falling
stop its decline and reverse direction once it hits the support of a major
moving average. A move through a major moving average is often used as a
signal by technical traders that the trend is reversing. For example, if the
price breaks through the 200-day moving average in a downward direction, it
is a signal that the uptrend is reversing.
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Moving averages are a powerful tool for analyzing the trend in a
security. They provide useful support and resistance points and are very easy
to use. The most common time frames that are used when creating moving
averages are the 200-day, 100-day, 50-day, 20-day and 10-day. The 200-day
average is thought to be a good measure of a trading year, a 100-day average
of a half a year, a 50-day average of a quarter of a year, a 20-day average of a
month and 10-day average of two weeks.
Moving averages help technical traders smooth out some of the noise
that is found in day-to-day price movements, giving traders a clearer view of
the price trend. So far we have been focused on price movement, through
charts and averages. In the next section, we'll look at some other techniques
used to confirm price movement and patterns
TRENDS
One of the most important concepts in technical analysis is that of
trend. The meaning in finance isn't all that different from the general
definition of the term - a trend is really nothing more than the general
direction in which a security or market is headed. Take a look at the chart
below:
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It isn't hard to see that the trend in Figure 1 is up. However, it's not always
this easy to see a trend
:
There are lots of ups and downs in this chart, but there isn't a clear
indication of which direction this security is headed.
A More Formal Definition
Unfortunately, trends are not always easy to see. In other words,
defining a trend goes well beyond the obvious. In any given chart, you will
probably notice that prices do not tend to move in a straight line in any
direction, but rather in a series of highs and lows. In technical analysis, it is
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the movement of the highs and lows that constitutes a trend. For example, an
uptrend is classified as a series of higher highs and higher lows, while a
downtrend is one of lower lows and lower highs.
Figure 3 is an example of an uptrend. Point 2 in the chart is the firsthigh, which is determined after the price falls from this point. Point 3 is the
low that is established as the price falls from the high. For this to remain an
uptrend each successive low must not fall below the previous lowest point or
the trend is deemed a reversal.
Types of TrendThere are three types of trend:
1. Uptrend2. Downtrends3. Sideways/Horizontal Trends
As the names imply, when each successive peakand trough is higher,
it's referred to as an upward trend. If the peaks and troughs are getting lower,
it's a downtrend. When there is little movement up or down in the peaks and
troughs, it's a sideways or horizontal trend. If you want to get really technical,
you might even say that a sideways trend is actually not a trend on its own,
but a lack of a well-defined trend in either direction. In any case, the market
can really only trend in these three ways: up, down or nowhere.
1. Upward Trend
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An upward trend is denoted by the systematic and extended rise in the
price of the given currency pair over some prolonged period of time. This
does not mean that the price of the given currency pair never recedes, but
merely that in the overall picture the price raises more than it falls in the
given timeframe. A theoretical sketch of an uptrend is presented on the right.
An example of upward trend is show below
If the graph shows upward trend, we can say that it is bullish in market
(increase in prices). It give signal to sell.
2. Downward Trend
A downward trend shares all the characteristics of the upward trend but
in the reverse direction, thus denoting the fall in the price of a given currency
pair.
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On the right we show a theoretical image of a downward trend, and a
real life counterpart below.
3. Sideways Trend
The sideways trend is also known as a trend less, ranging or flat
market. Though similar to the other two types, the sideways trend shows no
major difference in the price values between the beginning and the end of a
specific time period. The sideways trend denotes market conditions in which
prices may be moving back and forth between levels of support and
resistance (covered next).
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Trend Lengths
Along with these three trend directions, there are three trend
classifications. A trend of any direction can be classified as a long-term trend,
intermediate trend or a short-term trend. In terms of the stock market, a major
trend is generally categorized as one lasting longer than a year. An
intermediate trend is considered to last between one and three months and a
near-term trend is anything less than a month. A long-term trend is composed
of several intermediate trends, which often move against the direction of themajor trend. If the major trend is upward and there is a downward correction
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in price movement followed by a continuation of the uptrend, the correction
is considered to be an intermediate trend. The short-term trends are
components of both major and intermediate trends. Take a look a Figure 4 to
get a sense of how these three trend lengths might look.
When analyzing trends, it is important that the chart is constructed to
best reflect the type of trend being analyzed. To help identify long-term
trends, weekly charts or daily charts spanning a five-year period are used by
chartists to get a better idea of the long-term trend. Daily data charts are best
used when analyzing both intermediate and short-term trends. It is also
important to remember that the longer the trend, the more important it is; for
example, a one-month trend is not as significant as a five-year trend.
Trend lines
A trend line is a simple charting technique that adds a line to a chart to
represent the trend in the market or a stock. Drawing a trend line is as simple
as drawing a straight line that follows a general trend. These lines are used to
clearly show the trend and are also used in the identification of trend
reversals.
As you can see in Figure 5, an upward trend line is drawn at the lows
of an upward trend. This line represents the support the stock has every time
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it moves from a high to a low. Notice how the price is propped up by this
support. This type of trend line helps traders to anticipate the point at which a
stock's price will begin moving upwards again. Similarly, a downward trend
line is drawn at the highs of the downward trend. This line represents
the resistance level that a stock faces every time the price moves from a low
to a high.
Figure 5
Channels
A channel, or channel lines, is the addition of two parallel trend lines
that act as strong areas of support and resistance. The upper trend line
connects a series of highs, while the lower trend line connects a series of
lows. A channel can slope upward, downward or sideways but, regardless of
the direction, the interpretation remains the same. Traders will expect a given
security to trade between the two levels of support and resistance until it
breaks beyond one of the levels, in which case traders can expect a sharp
move in the direction of the break. Along with clearly displaying the trend,
channels are mainly used to illustrate important areas of support and
resistance.
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This illustrates a descending channel on a stock chart; the upper trend
line has been placed on the highs and the lower trend line is on the lows. The
price has bounced off of these lines several times, and has remained range-
bound for several months. As long as the price does not fall below the lower
line or move beyond the upper resistance, the range-bound downtrend isexpected to continue.
The Importance of Trend
It is important to be able to understand and identify trends so that you
can trade with rather than against them. Two important sayings in technical
analysis are "the trend is your friend" and "don't buck the trend," illustratinghow important trend analysis is for technical traders
INDICATORS USED IN TECHNICAL ANALYSIS
1. Relative Strength Index
The relative strength index (RSI) is another one of the most used and
well-known momentum indicators in technical analysis. RSI helps to signal
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overbought and oversold conditions in a security. The indicator is plotted in a
range between zero and 100. A reading above 70 is used to suggest that a
security is overbought, while a reading below 30 is used to suggest that it is
oversold. This indicator helps traders to identify whether a securitys price
has been unreasonably pushed to current levels and whether a reversal may
be on the way.
The standard calculation for RSI uses 14 trading days as the basis,
which can be adjusted to meet the needs of the user. If the trading period is
adjusted to use fewer days, the RSI will be more volatile and will be used for
shorter term trades.
2. Moving Average Convergence
The moving average convergence divergence (MACD) is one of the
most well known and used indicators in technical analysis. This indicator is
comprised of two exponential moving averages, which help to
measure momentum in the security. The MACD is simply the difference
between these two moving averages plotted against a centerline. Thecenterline is the point at which the two moving averages are equal. Along
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with the MACD and the centerline, an exponential moving average of the
MACD itself is plotted on the chart. The idea behind this momentum
indicator is to measure short-term momentum compared to longer term
momentum to help signal the current direction of momentum.
Moving average - longer term moving average
When the MACD is positive, it signals that the shorter term moving average
is above the longer term moving average and suggests upward momentum.
The opposite holds true when the MACD is negative - this signals that the
shorter term is below the longer and suggest downward momentum. Whenthe MACD line crosses over the centerline, it signals a crossing in the
moving averages. The most common moving average values used in the
calculation are the 26-day and 12-day exponential moving averages. The
signal line is commonly created by using a nine-day exponential moving
average of the MACD values. These values can be adjusted to meet the needs
of the technician and the security. For more volatile securities, shorter termaverages are used while less volatile securities should have longer averages.
Another aspect to the MACD indicator that is often found on charts is
the MACD histogram. The histogram is plotted on the centerline and
represented by bars. Each bar is the difference between the MACD and the
signal line or, in most cases, the nine-day exponential moving average. The
higher the bars are in either direction, the more momentum behind the
direction in which the bars point.
As you can see in Figure 2, one of the most common buy signals is
generated when the MACD crosses above the signal line (blue dotted line),
while sell signals often occur when the MACD crosses below the signal.
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3. ROC
It is a very popular oscillator which measures the rate of change of the
current price as Compared to the price a certain number of days or week
back. To calculate a 7 day ROC, each Day price is divided by the price with
prevailed 7 day ago and then 1 is subtracted from this Price, one should buy a
share that is oversold and sell a share that is over brought. In ROC Chart, the
overbought zone is above the zero line and over sold zone is below the zero
line for identifying buying and selling opportunities. Upside crossing (from
below to above the zero line). Indicates a buying opportunities. While down
side crossing (from above to below the zero line) indicates a selling
opportunity
Schools of technical analysis
1. Dow theory
2. Elliot wave theory
1. DOW THEORY
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The Dow Theory on stock price movement is a form oftechnical
analysis that includes some aspects ofsector rotation. The theory was derived
from 255 Wall Street Journal editorials written by Charles H. Dow (1851
1902), journalist, founder and first editor of the Wall Street Journal and co-
founder ofDow Jones and Company. Following Dow's death, William Peter
Hamilton, Robert Rhea and E. George Schaefer organized and collectively
represented Dow theory, based on Dow's editorials. Dow himself never used
the term Dow Theory nor presented it as a trading system.
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Six basic tenets of Dow Theory
1. The market has three movementsThe "main movement", primary movement or major trend may last
from less than a year to several years. It can be bullish or bearish. (2) The
"medium swing", secondary reaction or intermediate reaction may last from
ten days to three months and generally retraces from 33% to 66% of the
primary price change since the previous medium swing or start of the main
movement. (3) The "short swing" or minor movement varies with opinion
from hours to a month or more. The three movements may be simultaneous,
for instance, a daily minor movement in a bearish secondary reaction in a
bullish primary movement.
2. Market trends have three phasesDow Theory asserts that major market trends are composed of three
phases: an accumulation phase, a public participation phase, and a
distribution phase. The accumulation phase (phase 1) is a period when
investors "in the know" are actively buying (selling) stock against the general
opinion of the market. During this phase, the stock price does not change
much because these investors are in the minority demanding (absorbing)
stock that the market at large is supplying (releasing). Eventually, the market
catches on to these astute investors and a rapid price change occurs (phase 2).
This occurs when trend followers and other technically oriented investors
participate. This phase continues until rampant speculation occurs. At this
point, the astute investors begin to distribute their holdings to the market
(phase 3).
3. The stock market discounts all newsStock prices quickly incorporate new information as soon as it
becomes available. Once news is released, stock prices will change to reflect
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this new information. On this point, Dow Theory agrees with one of the
premises of the efficient market hypothesis.
4. Stock market averages must confirm each otherIn Dow's time, the US was a growing industrial power. The US had
population centers but factories were scattered throughout the country.
Factories had to ship their goods to market, usually by rail. Dow's first stock
averages were an index of industrial (manufacturing) companies and rail
companies. To Dow, a bull market in industrials could not occur unless the
railway average rallied as well, usually first. According to this logic, if
manufacturers' profits are rising, it follows that they are producing more. If
they produce more, then they have to ship more goods to consumers. Hence,
if an investor is looking for signs of health in manufacturers, he or she should
look at the performance of the companies that ship the output of them to
market, the railroads. The two averages should be moving in the same
direction. When the performance of the averages diverges, it is a warning that
change is in the air.
Both Barron's Magazine and the Wall Street Journal still publish the
daily performance of the Dow Jones Transportation Index in chart form. The
index contains major railroads, shipping companies, and air freight carriers in
the US.
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5. Trends are confirmed by volumeDow believed that volume confirmed price trends. When prices move
on low volume, there could be many different explanations. An overly
aggressive seller could be present for example. But when price movements
are accompanied by high volume, Dow believed this represented the "true"
market view. If many participants are active in a particular security, and the
price moves significantly in one direction, Dow maintained that this was the
direction in which the market anticipated continued movement. To him, it
was a signal that a trend is developing.
6. Trends exist until definitive signals prove that they have endedDow believed that trends existed despite "market noise". Markets
might temporarily move in the direction opposite to the trend, but they will
soon resume the prior move. The trend should be given the benefit of the
doubt during these reversals. Determining whether a reversal is the start of a
new trend or a temporary movement in the current trend is not easy. Dow
Theorists often disagree in this determination. Technical analysis tools
attempt to clarify this but they can be interpreted differently by different
investors
2. ELLIOT WAVE THEORY:
R. N. Elliott believed markets had well-defined waves that could be
used to predict market direction. In 1939, Elliott detailed the Elliott Wave
Theory, which states that stock prices are governed by cycles founded upon
the Fibonacci series (1-2-3-5-8-13-21.)
There are many theories, which seek to explain the behavior of the
stock market. One such theory, in technical analysis, is the wave theory
formulated by Ralph Elliot, known as the Elliot wave theory. A wave is amovement of the market price from one change in the direction to the next
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change in the same direction. The waves are the result of buying and selling
impulses emerging from the demand and supply pressures on the market.
According to the Elliott Wave Theory, stock prices tend to move in a
predetermined number of waves consistent with the Fibonacci series.
Specifically, Elliott believed the market moved in five distinct waves on the
upside and three distinct on the downside.
Waves one, three and five represent the impulse, or minor up-waves
is a major bull move. Waves two and four represent the corrective, or minor
down-waves in the major bull move. The waves lettered A and C represents
the minor down-waves in a major bear move, while B represents the one up-
wave in a minor bear wave.
Elliott proposed that the waves existed at many levels, meaning there
could be waves within waves. To clarify, this means that the chart above not
only represents the primary wave pattern, but it could also represent what
occurs just between points 2 and 4.
The diagram below shows how primary waves could be broken down into
smaller waves.
The basic shape of the wave is shown.
Elliott Wave theory describes names to the waves in order of descending
size:
1.
Grand Supercycle
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2. Super cycle3. Cycle4. Primary5. Intermediate6. Minor7. Minute8. Minuette9. Sub-Minuette
The major waves determine the major trend of the market, and minor
waves determine minor trends. This is similar to the way Dow Theory
postulates primary and secondary trends. Elliott provided numerous
variations on the main wave, and placed particular importance on the golden
mean, 0.618, as a significant percentage for retracement.
Trading using Elliott Wave patterns is quite simple. The trader
identifies the main wave or Super cycle, enters long, and then sells or shorts,
as the reversal is determined. This continues in progressively shorter cycles
until the cycle completes and the main wave resurfaces. The caution to this is
that much of the wave identification is taken in hindsight and disagreements
arise between Elliott Wave technicians as to which cycle the market is in.
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CHAPTER - 3
COMPANY PROFILE
INTRODUCTION
This section comprises of the profile of Aryan Share & Stock Brokers Ltd.
Where the study of the project carried out for the purpose of collecting
primary data. Aryan, a leading multicrore Share Broking company having
Pan India Presence, is successfully assisting & establishing its large clientele
base in the nifty gritty of financial business.
With a strong infrastructure & experienced team across the country, Aryan
Share & Stock Brokers Ltd. has established itself as a Intermediary in its
more than a decade of existence. Adapting itself quickly to the changing
times & financial markets across the globe, Aryan Share & Stock Brokers
Ltd. is in a position to provide the much needed expertise that every client
looks for in stock trading & financial planning.
ARYAN SHARE AND STOCK BROKERS LIMITED
Aryan - The people you can depend on as your Financial Lifeguards.
ARYAN SHARE AND STOCK BROKERS LIMITED (ASSBL) is
promoted by team of dynamic entrepreneurs, having stock market expertise
for a couple of decades and a collective work experience of more than 100
man years. TEAM ARYAN formed in 1993 with the membership OF THE
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MADRAS STOCK EXCHANGE LIMITED, incorporated ASSBL during
1995 with a subscribed capital base of Rs 300 Lacs. Our maiden public issue
during 1996, made ASSBL as one of the most widely held stock brokerage
house in south India. Today our net worth exceeds the capital in multi folds
and our esteemed clientele comprises all walks of financial world. (Viz.)
INVESTORS, HIGH NET WORTH INDIVIDUALS, SUB BROKERS,
TRADERS AND BODY CORPORATES.
FOCUS AND SERVICES:
Since inception we have always focused on retail stock brokering service and
making the best in customized services solution for investors in the retail
segment of stock market. We serve this segment of stock market through our
own virtual private network connecting our clients through C-BAND V.sats,
KU band V.sats, Leased Lines, integrated service digital network lines and
broad band connectivity though internet. We are specialized in the secondary
market operations, covering the capital market segment and the derivatives
segment (F&O). At assbl, we also offer online trading facility (internet
trading - online), covering services across major stretches of India. At
ASSBL we have shrinked the communication barriers through a systematic
network of channel partners. Our emphasis on the role of channel partners
has been of core importance and their process we have categorized regional
offices at:
JAIPURNorthern zone
VADODARAWestern zone
COIMBATORESouthern zone
BHIMAVARAMEastern zone
NAGPRCentral zone
In addition to the above, the other value added services provided to ouresteemed clients are
Primary services and commodities and market operation (IPOdistribution),
Portfolio guidance, investment awareness programmes, Technical analysis guidance on stocks, conducting session on expertise
to trade,
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Multi option deposits for trading and above all offering CTCL(computer to computer link) facility at different locations.
Online internet trading (e. braking) Online facility of Demat services a commodities trading.
INFRASTRUCTURE:
The registered office operating on an owned space has space dealing room,
separate segments for technical research studies and a fully automated
marketing division. ASSBL has many firsts to its credit, we have taken
pioneering initiatives to usher-in new generation, state of the art automated
stock-broking house. We have exclusive offices for research team, marketing
division, back office and accounts section. All the dealing offices are
customized to the best comfort and convenience of our clientele. Our back
office is complied with all the latest office automation and the software as
well as networking devices used for various segment in our office are
supplied and supported by leading establishments, maintaining world class
standard for their products.
CORE TEAM:
MR.MANOJ.N.SHAHCHAIRMAN
MR.SHANMUKH.N.SHAHMANAGING DIRECTOR
MR.PARESH.N.S SHAHBUSINESS DIRECTOR
MR.R.GIRIDHARGENERAL MANAGER
MR.ARUN MANDAVIYAMANAGER CORPORATE DIVISION
MR B S SRIKANTH - ZONAL MANAGER,
MR SOMASHEKAR K R - BRANCH MANAGER (MYSORE).
ASSBL understands the necessity of investors and their presence is very
much vital for the retail segment, which is the first and most preferred need
of entire stock market and fulfilling the financial solution in the retail
segment can be done only on case to case basis. It is this thought team
Aryan, has made us to be a preferred as well different solution for all
different clients because here you find avenues unlimited.
MYSORE BRANCH ADDRESS:
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MR B S SRIKANTH(ZONAL MANAGER), MR SOMASHEKAR KR(BRANCH MANAGER)+(91)-(821)-4269444, 4282933+(91)-9035398392, 9972823434
www.assbl.comNO 1, 2ND FLOOR, ABOVE ISMAIL OPTICALS, OPP BAKEPOINT, VISHWAMANAVA DOUBLEROAD, SARASWATHIPURAM, MYSORE - 570009 |
http://www.justdial.com/website.php?web=d3d3LmFzc2JsLmNvbQ==&city=Mysore&search=Aryan-Share-&-Stock-Brokers-LTD-%3Cnear%3E-Saraswathipuram&where=Saraswathipuram#_blankhttp://www.justdial.com/website.php?web=d3d3LmFzc2JsLmNvbQ==&city=Mysore&search=Aryan-Share-&-Stock-Brokers-LTD-%3Cnear%3E-Saraswathipuram&where=Saraswathipuram#_blankhttp://www.justdial.com/website.php?web=d3d3LmFzc2JsLmNvbQ==&city=Mysore&search=Aryan-Share-&-Stock-Brokers-LTD-%3Cnear%3E-Saraswathipuram&where=Saraswathipuram#_blank -
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by Ericsson, Nokia Siemens tworkand Huawei, and business support is
provided by IBM, and transmission towers are maintained by another
company (Bharti Infratel Ltd. in India). Ericsson agreed for the first time to
be paid by the minute for installation and maintenance of their equipment
rather than being paid up front, which allowed Airtel to provide low call rates
of 1/minute (US$0.02/minute). During the last financial year (200910),
Bharti negotiated for its strategic partner Alcatel-Lucent to manage the
network infrastructure for the tele-media business
Bharti airtel limited is a leading global telecommunications company
with operations in 19 countries across Asia and Africa. The company offers
mobile voice & data services, fixed line, high speed broadband, IPTV, DTH,
turnkey telecom solutions for enterprises and national & international long
distance services to carriers. bharti airtel has been ranked among the six best
performing technology companies in the world by business week. bharti
airtel had 200 million customers across its operations.
Highlights
Bharti Airtel selects Infosys as its technology partner for 'airtel money'
Now use airtel money to make payments and transfer money across
India
Bharti Airtel announces its third quarter ended December 31, 2011 on
February 8, 2012
Bharti Airtel appoints Suren Goonewardene as CEOSri Lanka
Bharti Airtel to Observe Silent period from December 31, 2011
Airtel Mobitude 2011 reveals data traffic trends on mobile devices in
India
History
http://en.wikipedia.org/wiki/Ericssonhttp://en.wikipedia.org/wiki/Nokia_Siemens_Networkhttp://en.wikipedia.org/wiki/Huaweihttp://en.wikipedia.org/wiki/IBMhttp://en.wikipedia.org/wiki/Alcatel-Lucenthttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/bharti-airtel-selects-infosys-as-its-technology-partner-for-airtel-money?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/bharti-airtel-selects-infosys-as-its-technology-partner-for-airtel-money?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/bharti-airtel-selects-infosys-as-its-technology-partner-for-airtel-money?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/now-use-airtel-money-to-make-payments-and-transfer-money-across-india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/now-use-airtel-money-to-make-payments-and-transfer-money-across-india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/now-use-airtel-money-to-make-payments-and-transfer-money-across-india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_announces_its_third_quarter_ended_december_31?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_announces_its_third_quarter_ended_december_31?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_announces_its_third_quarter_ended_december_31?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_appoints_suren_goonewardene_as_ceo_sri+lanka?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_appoints_suren_goonewardene_as_ceo_sri+lanka?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_appoints_suren_goonewardene_as_ceo_sri+lanka?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_appoints_suren_goonewardene_as_ceo_sri+lanka?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_to_observe_silent_period_from_december_31_2011?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_to_observe_silent_period_from_december_31_2011?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_to_observe_silent_period_from_december_31_2011?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/airtel_mobitude_2011_reveals_data_traffic_trends_on_mobile_devices_in_india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/airtel_mobitude_2011_reveals_data_traffic_trends_on_mobile_devices_in_india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/airtel_mobitude_2011_reveals_data_traffic_trends_on_mobile_devices_in_india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/airtel_mobitude_2011_reveals_data_traffic_trends_on_mobile_devices_in_india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/airtel_mobitude_2011_reveals_data_traffic_trends_on_mobile_devices_in_india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_to_observe_silent_period_from_december_31_2011?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_appoints_suren_goonewardene_as_ceo_sri+lanka?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_announces_its_third_quarter_ended_december_31?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/corporate/bharti_airtel_announces_its_third_quarter_ended_december_31?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/now-use-airtel-money-to-make-payments-and-transfer-money-across-india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/now-use-airtel-money-to-make-payments-and-transfer-money-across-india?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://www.airtel.in/wps/wcm/connect/About%20Bharti%20Airtel/bharti+airtel/media+centre/bharti+airtel+news/mobile/bharti-airtel-selects-infosys-as-its-technology-partner-for-airtel-money?WCM_Page.ResetAll=TRUE&CACHE=NONE&CONTENTCACHE=NONE&CONNECTORCACHE=NONE&SRV=Pagehttp://en.wikipedia.org/wiki/Alcatel-Lucenthttp://en.wikipedia.org/wiki/IBMhttp://en.wikipedia.org/wiki/Huaweihttp://en.wikipedia.org/wiki/Nokia_Siemens_Networkhttp://en.wikipedia.org/wiki/Ericsson 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Sunil Bharti Mittal founded the Bharti Group. In 1983, Sunil Mittal
was into an agreement with Germany's Siemens to manufacture the
company's push-button telephone models for the Indian market. In 1986,
Sunil Bharti Mittal incorporated Bharti Telecom Limited (BTL) and his
company became the first in India to offer push-button telephones,
establishing the basis of Bharti Enterprises. This first-mover advantage
allowed Sunil Mittal to expand his manufacturing capacity elsewhere in the
telecommunications market. By the early 1990s, Sunil Mittal had also
launched the country's first fax machines and its first cordless telephones. In
1992, Sunil Mittal won a bid to build a cellular phone network in Delhi. In
1995, Sunil Mittal incorporated the cellular operations as Bharti Tele-
Ventures and launched service in Delhi. In 1996, cellular service was
extended to Himachal Pradesh. In 1999, Bharti Enterprises acquired control
of JT Holdings, and extended cellular operations to Karnataka and Andhra
Pradesh. In 2000, Bharti acquired control of Skycell Communications, in
Chennai. In 2001, the company acquired control of Spice Cell in Calcutta.
Bharti Enterprises went public in 2002, and the company was listed on
Bombay Stock Exchange and National Stock Exchange of India. In 2003, the
cellular phone operations were rebranded under the single Airtel brand. In
2004, Bharti acquired control of Hexacom and entered Rajasthan. In 2005,
Bharti extended its network to Andaman and Nicobar.'2009, Airtel launched
its first international mobile network in Sri Lanka. In 2010, Airtel began
operating end
Today, Airtel is the largest cellular service in India and fifth largest in the
world.
Organizational Structure
The organizational structure that existed till recently concentrated on
the hierarchy of the operations(not services) inside the company as a whole.
The structure depicts the corresponding operation/region of different in-charges and hence it didn't hold anyone responsible for each of its services.
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So, the company found it better to restructure its organisational chart and it
came into implementation from 1 August. The transformed organisational
structure will have two distinct Customer Business Units (CBU) with clear
focus on B2C (Business to Customer) and B2B (Business to Business)
segments. Bharti Airtel's B2C business unit will comprehensively service the
retail consumers, homes and small offices, by combining the erstwhile
business units Mobile, Telemedia, Digital TV, and other emerging
businesses (like M-commerce, M-health, M-advertising etc.). The B2C
organization will consist of Consumer Business and Market Operations. It is
the largest telecommunication company in India.
Registered Address
Bharti Crescent
1, Nelson Mandela Road,,Vasant Kunj
New Delhi
Delhi
110070
Tel: 011-46666100 011-46666500
Fax: 011-46666137 011-41666149
Email:[email protected]
Website:http://www.airtel.com
Group: Bharti Group
Registrars
Karvy Computershare Private Ltd. "Karvy House"
46, Avenue 4,
Street No. 1
mailto:[email protected]:[email protected]:[email protected]://www.airtel.com/http://www.airtel.com/http://www.airtel.com/http://www.airtel.com/mailto:[email protected] -
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also comes under Wipro consulting services. Large numbers of clients are
guided on terms of profitable products and ethical technology for best quality
of these products by this organization. Wipro company profile tells that
Wipro consulting services holds more than two hundred of clients in United
States and Europe. Under other Wipro products, management of health care
is also one. Latest Wipro technology has introduced devices in medical field.
Through this latest range of Wipro products, doctors can regulate record of
patients healthcare from distant locations. This Wipro technology has
brought a boon in medical field. Wipro company profile enlightens that
Wipro products are designed using such Wipro technology which keeps a
view on benefits of customers.
As per Wipro company profile, this organization was established in
year of nineteen hundred and forty five but Wipro computers were introduced
in later years. In the former years, other products which have also flourished
greatly are dealt under the brand of Wipro. Charge of this company was
handled by son of former chairman of company under whose chairmanship
Wipro computers were introduced in the market. Logo of company on Wipro
computers is a sign of effective and efficient functionality of windows
program. Every user throughout world relies on functionalities of this brand
product of Wipro Company
History
The company was established in 1945 by Mohamed Hasham Premji as
Western India Products Limited listed on the New York Stock Exchange.
Wipro was initially set up as a vegetable oil manufacturer in 1945 in
Amalner,Maharashtra, producing sunflower Vanaspati oil and soaps. At that
time, the company was called Western India Vegetable Products Limited
(later abbreviated down to Wipro). The company logo still contains a
sunflower to reflect their original business. During the 1970s and 1980s, the
company shifted its focus and began to look into business opportunities in theIT and computing industry, which was at nascent stages in India at that time.
http://en.wikipedia.org/wiki/Amalnerhttp://en.wikipedia.org/wiki/Amalnerhttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Vanaspatihttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Vanaspatihttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Amalner -
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