Abstract
The Banking industry plays a very significant role in the economy and the development of a country. It is important to our nation’s economy as it caters to the need of credit for all the section of the nation. In this paper, we are focusing on the stocks of Yes Bank Limited, Axis Bank Limited and ICICI Bank Limited and analyze them technically. Using technical analysis, we could predict the future price movements of stocks by examining the present and the past price movements of stocks. It has many tools and indicators like SMA, EMA, RSI, MACD and P&L which are used for forecasting the future stock price and also identify the pattern, trend and it directs when to buy and sell stocks.
Highlights
Technical Analysis was developed by Charles Dow in 19th century to know the value of a stock by studying patterns and signals over a period of time
We are focusing on the stocks of Yes Bank Limited, Axis Bank Limited and ICICI Bank Limited and analyze them technically
It has many tools and indicators like SMA, EMA, Relative Strength Index (RSI), MACD and P&L which are used for forecasting the future stock price and identify the pattern, trend and it directs when to buy and sell stocks
Summary
Technical Analysis was developed by Charles Dow in 19th century to know the value of a stock by studying patterns and signals over a period of time. Technical Analysis is a means of examining and predicting price movements in the financial markets by using historical price charts. We could analyse the statistical trends based on trading activities. Technical Analysis is used for short term trades. It uses some analytical chart tools to evaluate a stock’s potential. Technical Analysts observe at price movements to forecast and predict stock prices. Murphy in 1999 described three premises in Technical Analysis such as, i. Data in technical analysis context is information regarding the price variables namely open, high, low, close, volume etc
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