A Study on Technical Analysis Using Candlestick Pattern of Selected Large Cap Stocks Listed in National Stock Exchange (NSE), India with Reference to Steel Sector

Year 2021, Volume: 3 Issue: 2, 62 - 71, 17.06.2021

Venkatesh P Krıshna Sudheer Senthilmurugan Paramasivan

https://doi.org/10.5281/zenodo.4972495

Abstract

Technical Analysis is a study of the stock market relating to factors affecting the supply and demand of stocks and also helps in understanding the intrinsic value of shares and to know whether the shares are undervalued or overvalued. The stock market indicators would help the investor to identify major market turning points. This is a significant technical analysis of selected companies which helps to understand the price behaviour of the shares, the signals given by them and the major turning points of the market price. Any investor or trader must certainly consider technical analysis as a tool whether to buy the stock at a particular point of time though it is fundamentally strong. The objective of the study is the technical analysis on selected stocks of steel sector and interprets on whether to buy or sell them by using techniques. The study is purely based on secondary sources which includes the historical data available from the website. For the purpose of analysis, techniques like Candlestick Charts, Simple moving average, ROC and RSI is used for the analysis to know if the stock is technically strong.

Keywords

stock, Shares, Market, Price

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