Primary objective: The study’s primary objective is to execute a through technical analysis on a select set of equity stocks by interpreting their price chart patterns and indicators to find out the key entry and exit points for trade to make good returns.
To trade successfully, the use of technical indicators is highly recommended and mandatory to prevent losses.
Two (or) more indicators need to be used and trade should be executed on the consensus of their trend, entry and exit signals.
The recommended combo tools for technical analysis are 3 SMAs with RSI, Volume and Chaikin Money flow.
One should not completely rely on technical tools for trading, but also have a close watch on the economy, industry and the company performance and corporate actions.
3.Chaikin Money Flow (Ch Mf)
4.Moving Average Convergence Divergence (MACD)
5.Relative Strength Index (RSI)
6.Simple Moving Average (SMA)
7.Exponential Moving Average (EMA)