Project

1
CHAPTER 1
1.1. INTRODCUTION STOCK EXCHANGE

1.1.1 STOCK EXCHANGE:
The stock exchange or secondary market is a highly organized market for the
purchase and sale of second hand quoted of listed securities. The securities contracts
(Regulation) Act 1956 defines a stock exchange as an association, organization or not,
established for the purpose of assisting, regulating and controlling business in buying,
selling and dealing in securities.
Of all the modern service institutions, stock exchange plays a crucial agents and
facilitators of entrepreneurial progress. After the industrial resolution, as the size of the
business enterprises grew, it was no longer possible for individual person or even
partnerships to raise such huge amount for undertaking these ventures. Such huge
requirements of capital can be met only large number of individuals.
These investors could be expected to participate actively only if investment is
liquid or they could sell a part of their stake whenever they wish to generate cash. This
liquidity can be achieved through shares and debentures representing smallest units of
ownership and lending represented by the public. The institution where these securities are
traded is known as stock exchange. This stock exchange is one of the most important
institutions in the capital market.
1.1.2 BOMBAY STOCK EXCHANGE

The origin of the Bombay stock exchange date back to 1875. it was organized
under the name of the native stock and shares brokers association as a voluntary and
non-profit making association. It was recognized on a permanent basis in 1957. this
premier stock exchange is the oldest stock exchange in Asia. The objectives of the stock
exchanges are:
To safeguard the interest of the investing public having dealings on the

exchange.
To establish and promote honorable and just practices in securities transaction.
To promote, develop, and maintain well regulated market for dealing in

securities.
To promote industrial development in the country through efficient resource

mobilization by the way of investment in corporate securities.
1.1.3 NATIONAL STOCK EXCHANGE

The National Stock Exchange of India Limited has genesis in the report of the High
Powered Study Group on Establishment of New Stock Exchanges, which recommended
promotion of a National Stock Exchange by financial institutions (FIs) to provide access to
investors from all across the country on an equal footing. Based on the recommendations,
NSE was promoted by leading Financial Institutions at the behest of the Government of
India and was incorporated in November 1992 as a tax-paying company unlike other stock
exchanges in the country.
Trading on NSE is characterized by four key innovations.
The physical floor was replaced by anonymous, computerized order- matching with
strict prime-time priority.
The limitations of being on Mumbai and the limitations of Indias Public telecom
network were avoided by using satellite communications. Now NSE has a network
of over 2000 satellite terminals all over the country. On a typical day almost over
3500 traders login to the trading computer over this network. This is larger than the
capacity of the largest trading floors in the world.
NSE is not owned by brokers. It is a limited liability company and brokers or

franchisees. Therefore NSEs staff is free of pressures from brokers and is able to
perform its regulatory and enforcement functions more effectively.
Traditional practices of unreliable fortnightly settlement cycle with escape clause of

badla were replaced by a strict weekly settlement cycle without badla.
1.2 INTRODUCTION TO THE PROJECT

In the wake of the introduction of new economic policy in the middle of the year
1991, the Indian Capital Market has witnessed a tremendous growth. There was an
explosion of investor interest during the nineties and an equity cult emerged in the country.
To experience sustained growth statutory legislations have helped the capital market.
Foreign Exchange regulation act is one such legislation in this direction.
An important recent development has been the entry of Foreign Institutional
Investors as participants in the primary and secondary markets for industrial securities. In
the past several years, investments in developing countries have increased remarkably.
Among the developing countries India has received considerable capital inflows in recent
years. The liberalization policy of the Government of India has now started yielding results
and the country is poised for a big leap in the industrial and economic growth. The
Economy of the country is mainly based on the development of the corporate sectors.
Funds may be raised through securities market for financing corporate growth.
Generally, the security prices reflect the performance of a company. Both economic
and non-economic factors invariably affect stock return behavior. As Cootner (1964) says
that the prices of securities are typically very sensitive, responsive to all events, both real
and imagined. Again a major factor responsible for stock return fluctuations is speculative
purchase and sale by foreign institutional investors. Indian financial institutions also play a
major role in equity market leading to stock return fluctuations. Many theories have come
up which have empirically verified the investors behavior at the international as well as at
the Indian context. In the present project, it is attempted to test the equity price movements
taking pharmaceuticals, oil and sugar industries as sample sectors.
1.3 TOOLS USED FOR ANALYSIS

1.3.1 TECHNICAL ANALYSIS
Technical analysis refers to the study of the stock market itself rather than those
external factors which are reflected in the market. It involves the examination of volume
and price traded in the market, Hanna Myer and Warren H. Myer, Investors sight, vol1
of the five volume investment encyclopedia, 1993, Indmark, P.H-2.
Technical approach to investment is essentially a reflection of the idea that the
stock market moves in trend which are determined by changing attitude of investors to a
variety of economic, monetary, political and psychological forces.
Hence technical analysis involves a study of action of the market. In simple words,
it is an art that helps to invest/trade along with the direction of trend and make the gain out
of it.
1.3.2 ASSUMPTIONS OF TECHNICAL ANALYSIS

The main assumptions of technical analysis are as follows:
All historic price and volume patterns exhibited by a stock represent
the total market perception of what is known or knowable about the
individual stocks.
The market does not move in a random manner.
The market value of the security is related to demand and supply
factors.
1.3.3 FACTORS AFFECTING STOCK PRICES
Stocks are affected by the following factors. They are as follows:
Inflation.
Interest Rates.
Deflation.
INFLATION
An increase in the cost of goods and services over a period of time. Decreases the
purchasing power of the dollar. Usually measured by the Consumer Price Index.
INTEREST RATES
A fee paid to a lender to borrow its money or a penalty charged for late payments.
Usually shown as an annual percentage rate.
DEFLATION
A drop in the cost of goods and services over time. Usually caused by a shrinking
supply of money or credit, or reduced spending by consumers or government. Boosts
purchasing power of the dollar.
1.4 SIMPLE MOVING AVERAGE

In technical analysis the moving average is one of the key trend lines that are
plotted on a chart reflecting the closing prices over weeks. When the moving average
moves above or below the daily chart it may generate a buy or sell signal.
A moving average is an indicator that shows the average value a securitys price
over a period of time. When calculating a moving average, a mathematical analysis of the
securitys average value over a predetermined time period is made. As the securities price
changes, its average price moves up or down.
We can interpret a moving average by comparing the relationship between the
moving averages of the securitys price with the securitys price itself.
Buy signal
When the securitys price rises above its moving average.
Sell signal
When the securitys price falls below its moving average.
1.4.1 RISK
Risk is an important consideration in holding any portfolio. The risk in holding
securities is generally associated with the possibility that realized returns will be less than
the returns expected.
Risks can be classified as Systematic risks and Unsystematic risks.
Unsystematic risks:
These are risks that are unique to a firm or industry. Factors such as management
capability, consumer preferences, labour, etc. contribute to unsystematic risks.

Unsystematic risks are controllable by nature and can be considerably reduced by
sufficiently diversifying one's portfolio.
Systematic
risks:
These are risks associated with the economic, political, sociological and other
macro-level changes. They affect the entire market as a whole and cannot be controlled or
eliminated merely by diversifying one's portfolio.
1.4.2 BETA
The degrees to which different portfolios are affected by these systematic risks as
compared to the effect on the market as a whole is different and is measured by Beta. The
Beta factor describes the movement in a stock's or a portfolio's returns in relation to that of
the market return.
The main purpose of using Slope or Beta is to predict the change in the market.
Beta is a measure of the market or non-diversible risk associated with any given security in
the market. The formula for predicting Beta is as follows:
Market Value of Beta = P1-P0 / P0*100
Where,
P1
Todays Close.
P0
Previous Close.
Beta = Cov (x,y) / var (x)

Where,
X
Market Value of Nifty
Market Value of the Company.
The analysis is done based on the following rule:
If the beta is 1 The company will move along with

the market.
If the beta is >1
The share is more volatile than the

market.
If the beta is <1
The share is less volatile than the
market.
1.4.3 MONEY FLOW INDEX
Money Flow Index

Money Flow Index Measures the strength of money flowing into and out of the
stock. Money Flow Index is an momentum indicator that measures the strength of money
in and out of a security. The formula for calculating the Money Flow Index is as follows:
Days High + Days Low + Close
Average Price of the day
-------------------------------------3
Money Flow
Avg Price x Days Volume.
If the price was up in a particular day it is Positive Money Flow and it can be
concluded that the stock position is good during the particular day and this is the signal to
buy the particular stock and on the other hand if the price was low in the particular day it
can be concluded that the stock position is not satisfactory and this is the signal to sell the
particular stock.
CHAPTER 2
REVIEW OF LITERATURE
2.1 Introduction
The purpose of the chapter is to review the various studies conducted and made to
consolidate the views and studies to determine the effectiveness of different factors which
influence the equity price.
2.2 Concept and Definition

D. Sarkar studies the share price behavior using the time series data. He found that
the retained earnings had on effect share price while the influence of divided was very
much significant.
Prof. Leopold A. Bernstein (1975) in his article had defended the function and
value of fundamental investment analysis as the basis of successful investment in equity
shares. He had argued that even though psychological and other factors accounted 50% of
price changes the other 50% of it was only due to fundamental factors.
Balasubramaniam. K. (1994) examined the behavior of stock returns in India. He
took the daily and weekly prices of 90 shares listed in BSE. He applied auto correlation
analysis; runs test and filter techniques for the study. He concluded that share price
behavior is not random and hence random walk hypothesis cannot be established for Indian
stock market.
Ritter (1988) analyzed the buy/ sell details of NYSE stocks over a period of 15
years from Dec 17, 1970 to Dec 16, 1985. Ritter proposed the parking- the proceeds
hypothesis i.e., the individual investors who sell the stocks prior to the late December for
tax loss selling and they buy the shares in early January, mostly small stocks. He
concluded that the ratio of stock purchases to sales by individual investor displays a
10
seasonal pattern, with individuals having a below-normal and buy/sell ratio in late
December and above normal ratio in early January.
Prakash.L. Dheeriya studied the early movement of stock market indices of major
rational stock exchanges of 16 countries over the period of 1987 crash. He used time series
of daily stock market indices at closing time. He found evidence of co-integration between
stock indices of some small European countries.
Eugene F. Fama studied, the Behavior of stock market prices. The main objective
of the theory is to find answer to the question: to what extent can be used to make
meaningful predictions concerning the future prices of stocks?
Chan and Chen (1991) examined the difference in structural characteristics that
lead firms of different size to react differently to the same economic news. By using time
series analysis they found that return difference between small and large firms could be
captured by the responses of high leverage firms and marginal firms to economic views.
11
CHAPTER 3
OBJECTIVES, SCOPE AND LIMITATIONS OF THE STUDY
3.1 OBJECTIVES OF THE STUDY
3.1.1. PRIMARY OBJECTIVE
To analyses the stock price behaviors of selected industries.
3.1.2. SECONDARY OBJECTIVE
To predict the day to day fluctuations in the Stock Market using

Technical Analysis.
To study the price movements in the stock market for 3 years
To analyze the average return and the risk involved in the selected
industries.
To recapitulate the key findings and offer suggestions to investors.
3.2 SCOPE OF THE STUDY

A better understanding of the stock market trend will facilitate allocation of
financial resources to the most profitable investment opportunity. The behavior of stock
returns will enable the investors to make appropriate investment decisions. The
fluctuations of stock returns are due to several economic and non-economic factors. The
study is aimed at ascertaining the behavior of stock returns.
12
The study on fluctuations in equity market helps in understanding the behavior of

equity market. It helps investors to be aware about deviations in the returns of the stocks.
The simple moving average model indicates the buy and sell signal to the investors. This
helps the investors in taking good decisions when investing in equity shares.
The study also helps the customers to ascertain the risk and return of the stocks.
This will help the investors viz, individuals, FIIs in identifying the stocks which would
yield them higher return and lesser risk.
Also the money flow index helps the people to know about the money flow in and
out of a security. When the money flow is higher then it is recommended to buy and if
money flow is less then the security can be sold.
The conclusions that are to be provided based on the analysis of the data would be
of immense use to the investors on one hand and the officials of the stock market to
understand the responsiveness of market price of the sample industries to different
situation on the other.
3.3. LIMITATIONS OF THE STUDY
The main limitations of the study are as follows:
We cannot predict the price movements accurately whether the price is
moving up or coming down. We can predict the price movements only
based on the assumptions.
There is no guarantee that what has worked for over a hundred and fifty
years in the past may continue to work in the future.
The study is confined to 3 years only and hence the changes taken place
before and after these periods have not been taken into considerations.
The study is confined only to three months in case of money flow index
13
The study considers only three sectors namely Oil, Sugar and
Pharmaceuticals for simple moving average.
CHAPTER 4
RESEARCH METHODOLOGY
4.1 RESEARCH DESIGN
This project analyses the equity market and its fluctuations in India. The project
aims to analyze the average return of the selected sectors for the study. It also measures the
risk involved in investing in the stocks. Simple moving average model is applied for
selected companies which would give the investor a sell signal or buy signal.
4.2 METHODOLOGY
4.2.1 DATA AND SOURCES OF DATA
Main objective of this analysis
is to predict the future price movements using
technical analysis. Source of data collected is Secondary. Print media and internet has
been used for data collection. The data was obtained form the national stock exchange
website (www.nseindia.com). For the purpose of this study the daily closing prices of 15
companies included in National Stock Exchange were taken and their price movements are
computed and studied.
The sectors selected are as follows:
Pharmaceuticals
Oil Refineries
Sugar industries
Secondly, In the above mentioned sector five companies in each sector is
taken as follows:
Pharmaceuticals
14
Dr.Reddys laboratories
Sun Pharma
Nocil
Oil Refineries
Indian Oil Corporation
Gail
Chennai petroleum
Sugar industries
Bannariamman sugars
Sakhti sugars
Rajshree sugars
The purpose of this analysis is to take the three years solid data from the
National Stock Exchange Website and to predict the market trends in each
of the above mentioned companies.
4.3 TIME PERIOD COVERED
The daily share prices of above mentioned companies and NIFTY were taken for a
period of three years from 1st January 2008 to 31st December 2010. The closing prices of
share prices were taken and the future price movements were analyzed.
4.4 METHOD OF SAMPLING
Since for the purpose of this analysis three sectors are taken and from the three
sectors five companies are taken in each sector. Therefore the sampling used is judgmental
sampling. In this method, items for the sample are selected on certain predetermined
criteria. The fixation of criteria and the choice of sampling may bring in personal element
15
and introduce bias. This method is usually applied in small enquiries and researches by
individuals when they are familiar with all the items of the population. It is difficult to
estimate the sampling error and the reliability of the result depends on the investigator and
the impartiality in the choice of the item.
CHAPTER 5
ANALYSIS AND INTERPRETATION
In this chapter the researcher has analyzed the average return, volatility and the
moving average of each company individually. The researcher has given the analysis in the
form of tables and charts.
An attempt has been made to know the trend in the market prices of the selected
companies of NSE is a maiden attempt as far as the study area and the time period are
considered. More specially, though there are large number of studies carried out on similar
lines, as far as the researchers knowledge is concerned there is little empirical evidence on
the market performance of the companies selected. The conclusions that are to be provided
based on the analysis of the data would be of immense use to the investors on one hand and
the officials of the stock market to understand the responsiveness of market price of the
sample industries to different situation on the other.
16
TABLE SHOWING AVERAGE RETURN OF DR.REDDYS AND NIFTY

TABLE 5.1
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

0.0004
-0.0016
0.0023
-0.0022
0.0011
0.0100
0.0025
0.0005
-0.0037
0.0057
0.0036
0.0055
-0.0009
-0.0059
-0.0100
-0.0055
-0.0032
-0.0036
AVG
NIFTY
RET
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
AVG MKT RET
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
AVG NIFTY
RET
0.0017
-0.0032
0.0021
0.0010
0.0029
0.0038
-0.0083
-0.0010
0.0013
-0.0073
0.0060
0.0017
0.0054
-0.0019
0.0031
-0.0023
0.0064
0.0032
BETA CALCULATION FOR DR.REDDYS FOR THREE YEARS

COVARIANCE (DR.REDDYS, NIFTY)
VARIANCE (NIFTY)
BETA VALUE
INTERPRETATION
1.14317E-05
=
7.05658E-05
0.162000036
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
17
BETA=0.162 the beta value is LESSER than 1, that is securitys price will be less
volatile than the market, and therefore buying this share is less risky.
http://www.drreddys.com/investors/shareprice_analysis.html
TABLE SHOWING MOVING AVERAGE OF DR.REDDYS
TABLE 5.2
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLOSING PRICE

909.44
915.90
1,109.73
1,270.94
1,219.45
855.55
740.10
791.07
743.66
704.45
796.55
910.04
FIGURE 5.1
MOVING AVERAGE OF DR.REDDYS

1400
1200
800
AVG CLOSING
PRICE
600
MOV AVG
400
200
3r
d
qr
tr
-0
8
qr
t r08
1s
tq
r tr
-0
9
3r
d
qr
t r09
1s
tq
r tr
-1
3r
0
d
qr
t r10
1s
t
Price
1000
Period
MOV AVG
978.36
1,098.86
1,200.04
1,115.31
938.36
795.57
758.27
746.39
748.22
803.68
18
http://www.drreddys.com/investors/financials.html
INTERPRETATION
The average closing price as on 4th quarter 2010 is 910.04 which is greater than the
moving average. Hence the securitys price has been trending up. This shows the buy
signal for the investors.
TABLE SHOWING MONEY FLOW INDEX OF DR.REDDYS

TABLE 5.3
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
13-Jan-11
16-Jan-11
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
High
980
999.9
1029
1035
1039.9
1070
1074.75
1047.95
1036.9
1045
1048.05
1034
1037.75
1044
1040
1050
1100
1089.7
1145
1141
1210
1216
1192
1198.9
1229.8
1230
1212
1210
1195
1179.9
1295.9
Low
959.95
967
941.55
1001
1001.15
1023
1030.15
1021.65
1020
1016
1015.5
985.05
1020.05
1005
1015
1025.05
1044
1066
1075
1112.5
1121
1165.6
1156
1082.4
1180
1161.55
1180.2
1189
1158.05
1145.25
1203
Close
963
993.95
1020.45
1029.3
1023.8
1061.25
1034.95
1028.45
1032.8
1039.2
1019
1031.7
1030.7
1031
1031.25
1042.35
1086.5
1073.4
1130.4
1121.25
1179.35
1174.1
1160.75
1188.7
1220.05
1193
1206.4
1195.7
1166.55
1171.9
1280.65
Total Trd Qty

97187
378979
394634
256666
248932
312590
91638
151993
178289
150622
56819
176443
139431
76093
65318
274227
551356
114527
396734
244774
964355
569808
245828
414947
329989
392063
295036
122825
82008
172064
1095505
Avg price
967.6500
986.9500
997.0000
1,021.7667
1,021.6167
1,051.4167
1,046.6167
1,032.6833
1,029.9000
1,033.4000
1,027.5167
1,016.9167
1,029.5000
1,026.6667
1,028.7500
1,039.1333
1,076.8333
1,076.3667
1,116.8000
1,124.9167
1,170.1167
1,185.2333
1,169.5833
1,156.6667
1,209.9500
1,194.8500
1,199.5333
1,198.2333
1,173.2000
1,165.6833
1,259.8500
Money flow
94043000.55
374033324.1
393450098
262252763.3
254313080.1
328662335.8
95909858.1
156960637.9
183619841.1
155652774.8
58382469.48
179427827.4
143544214.5
78122146.67
67195892.5
284958416.6
593718519.3
123273045.2
443072531.2
275350352.2
1128407858
675355435.2
287516331.7
479955363.3
399270190.6
468456475.6
353905516.5
147173009.2
96211785.6
200572137.1
1380171974
19
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
1295
1349.9
1400
1410
1387.8
1369.5
1336.9
1327
1377.95
1329
1334
1356.75
1325
1322.9
1348.5
1356
1367
1375
1370
1367.8
1370
1372
1517
1505
1460
1484.8
1455
1438.7
1457.5
1448
1258.1
1275.25
1325
1338.5
1331.05
1295.1
1308
1294.4
1285.1
1305
1317
1316
1301
1290
1250.2
1330
1350.55
1346.55
1340.35
1344
1349
1352.4
1360
1425
1410.15
1413
1417
1406.05
1405.1
1407
1286.1
1326.45
1386.8
1351.5
1367
1308.55
1319.3
1306.1
1325.35
1316.2
1326.85
1323.5
1308.35
1303.65
1332.55
1351.05
1358.7
1361.15
1351.95
1347.9
1365.35
1361.85
1486
1446.15
1432.65
1449.75
1422.1
1425.65
1419.45
1421.4
798930
733706
591687
548879
851601
233312
189713
89368
394238
126731
136227
361155
373869
439343
430978
387324
406548
348980
234713
98905
137463
279156
751547
454535
282980
455658
178006
449468
537647
328374
1,279.7333
1,317.2000
1,370.6000
1,366.6667
1,361.9500
1,324.3833
1,321.4000
1,309.1667
1,329.4667
1,316.7333
1,325.9500
1,332.0833
1,311.4500
1,305.5167
1,310.4167
1,345.6833
1,358.7500
1,360.9000
1,354.1000
1,353.2333
1,361.4500
1,362.0833
1,454.3333
1,458.7167
1,434.2667
1,449.1833
1,431.3667
1,423.4667
1,427.3500
1,425.4667
1022417352
966437543.2
810966202.2
750134633.3
1159837982
308994524.3
250686758.2
116997606.7
524126279.7
166870932.1
180630190.7
481088556.3
490310500.1
573569608.9
564760754.2
521215451.4
552397095
474926882
317824873.3
133841542.8
187149001.4
380233735
1092999854
663037780.1
405868781.3
660331979.3
254791854.9
639802715.7
767410445.5
468086191.2
http://www.drreddys.com/investors/shareprice_analysis.html
INTERPRETATION
The above predicted chart shows the analysis of Money Flow Index. Take for
Example the 10th Day of March the Money Flow is 521215451.4 and the money flow of
13th march is 552397095. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. Take for example the 30 th day of
March the Money flow is 767410445.5 and the money flow of 31st March is 468086191.2.
This is Negative and it can be concluded that it is not a good sign to Purchase.
20
TABLE SHOWING AVERGE RETURN OF NOCIL AND NIFTY FOR THREE

YEARS
TABLE 5.4
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

-0.0006
-0.0035
-0.0094
-0.0016
0.0214
0.0178
0.0012
0.0093
0.0053
-0.0001
0.0099
0.0097
-0.0030
-0.0070
-0.0069
0.0147
-0.0083
-0.0011
AVG NIFTY RET

-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
AVG MKT RET

0.0131
0.0051
0.0017
0.0064
0.0002
0.0067
-0.0061
0.0071
-0.0044
0.0008
0.0046
0.0017
0.0106
0.0052
0.0023
-0.0111
0.0081
0.0004
AVG NIFTY RET

0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0045
0.0057
0.0031
BETA CALCULATION FOR NOCIL

COVARIANCE (NOCIL, NIFTY) IS
1.6538E-05
VARIANCE (NIFTY) IS
1.1058E-05
THEREFORE THE BETA VALUE
1.49556389
INTERPRETATION
BETA=1.49 the beta value is GREATER than 1, that is securitys price will be
more volatile than the market, and therefore buying this share is more riskier.
http://www.appuonline.com/nse/nseshareprice.php?company_name=NOCIL
21
TABLE SHOWING MOVING AVERAGE OF NOCIL

TABLE 5.5
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLOSING PRICE

6.3478
6.6526
11.7771
15.4504
16.4879
13.7652
16.6500
21.2220
22.3635
22.8160
31.4534
29.9267
MOV AVG
FIGURE 5.2
MOVING AVERAGE OF NOCIL

35
30
Price
25
20
AVG CLOSING
PRICE
15
MOV AVG
10
5
3r
1s
t
qr
tr
-0
8
qr
tr08
1s
tq
r tr
-0
9
3r
d
qr
tr09
1s
tq
rtr
-1
3r
0
d
qr
tr10
Period
8.2592
11.2934
14.5718
15.2345
15.6344
17.2124
20.0785
22.1338
25.5443
28.0654
22
INTERPRETATION
The average closing price as on 4th quarter 2010 is 29.9267 which is greater than
the moving average. Hence the securitys price has been trending up. This shows the buy
TABLE SHOWING THE MONEY FLOW INDEX OF NOCIL
TABLE 5.6
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
13-Jan-11
16-Jan-11
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
High
32.1
32.45
32.5
32.6
32.1
33.1
32.8
32.35
32.25
31.45
31
30.7
30.85
31.35
30.5
31.25
31.65
30.5
30.25
32.4
30.95
30
31
29.75
28.95
28.7
29.3
29.3
29.25
29
29.3
28.45
Low
31
31.4
31.5
31.15
31
31.4
31.6
31.3
31
30.25
29.75
29.65
30
29.9
29
30
29.9
29.5
29.25
29.65
29.4
28.7
28.5
28.25
27.95
28.05
28.3
28.85
28.5
28.25
28.05
27.4
Close
31.35
31.9
31.65
31.7
31.25
32.65
31.8
31.7
31.1
30.35
30.2
30.25
30.45
30
30.05
30.6
30.05
29.6
30
30.75
29.6
28.8
28.75
28.45
28.4
28.35
28.9
28.95
28.6
28.45
28.2
27.55
Total Trd Qty

923189
953168
537473
1255963
930319
3022907
1115399
735615
494011
510297
656795
647407
597793
955664
399246
1880588
2121789
608658
740395
1925350
640031
510938
451124
584319
643228
527772
709832
338568
419611
310486
510976
374966
Avg Price
31.4833
31.9167
31.8833
31.8167
31.4500
32.3833
32.0667
31.7833
31.4500
30.6833
30.3167
30.2000
30.4333
30.4167
29.8500
30.6167
30.5333
29.8667
29.8333
30.9333
29.9833
29.1667
29.4167
28.8167
28.4333
28.3667
28.8333
29.0333
28.7833
28.5667
28.5167
27.8000
Money flow
29065067.02
30421945.33
17136430.82
39960556.12
29258532.55
97891805.02
35767127.93
23380296.75
15536645.95
15657612.95
19911835.08
19551691.4
18192833.63
29068113.33
11917493.1
57577335.93
64785290.8
18178585.6
22088450.83
59557493.33
19190262.82
14902358.33
13270564.33
16838125.85
18289116.13
14971132.4
20466822.67
9829757.6
12077803.28
8869550.067
14571332.27
10424054.8
23
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
28.05
27.5
27.35
26.5
26.8
26.65
26.75
25.9
26.05
25.85
26
26.2
25.9
25
24.5
24.5
23.4
23.2
24.45
25.2
24.25
23.75
23.9
24.1
23.4
23.6
23.2
24.6
24.7
26.8
26.75
25.9
26
25.8
25.9
25.55
25.4
24.3
24.25
21.05
22.5
24.25
23.35
22.8
22.9
22.8
22.35
22.3
23.8
22.5
22.55
22.55
22.9
22.6
20.15
21.3
23.15
23.8
26.9
26.85
26.2
26.05
25.9
26.2
25.85
25.75
24.85
25.55
22.05
25.55
24.35
24.25
23.4
23.05
22.9
22.55
23.85
23.9
22.7
22.6
23.45
23.15
22.7
20.8
22.8
24.05
24.35
413757
308239
458415
296025
452176
445717
366171
345204
521141
553302
1549233
2575024
942767
563059
921593
1002080
546776
799269
2619964
1581634
1106483
785198
915032
1263977
1183474
3215155
1233919
2026213
864271
27.2500
27.0333
26.4833
26.1833
26.1667
26.2500
26.0500
25.6833
25.0667
25.2167
23.0333
24.7500
24.8333
24.2000
23.5667
23.4833
23.0333
22.7000
23.5333
24.3000
23.1500
22.9667
23.3000
23.3833
22.9000
21.5167
22.4333
23.9333
24.2833
11274878.25
8332727.633
12140357.25
7750921.25
11831938.67
11700071.25
9538754.55
8865989.4
13063267.73
13952432.1
35684000.1
63731844
23412047.17
13626027.8
21718875.03
23532178.67
12594073.87
18143406.3
61656486.13
38433706.2
25615081.45
18033380.73
21320245.6
29555995.52
27101554.6
69179418.42
27680916.23
48494031.13
20987380.78
INTERPRETATION
13th march is 23532178.67. So it shows the Positive Money flow over the day. So, it can be
March the Money flow is 48494031.13 and the money flow of 31st March is 20987380.78.
TABLE SHOWING AVERAGE RETURN OF SUNPHARMA AND NIFTY FOR

THREE YEARS
24
TABLE 5.7
MONTH
AVG MKT RET
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
-0.0234
-0.0016
-0.0016
0.0014
0.0030
0.0085
0.0062
0.0119
-0.0007
0.0040
0.0058
0.0000
0.0014
0.0037
0.0003
0.0075
-0.0230
-0.0021
AVG NIFTY
RET
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
AVG MKT RET
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
-0.0012
0.0045
0.0048
0.0019
0.0061
0.0051
-0.0054
-0.0020
-0.0009
0.0036
0.0024
0.0046
0.0034
0.0005
0.0032
-0.0050
0.0051
0.0014
AVG NIFTY
RET
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
BETA CALCULATION FOR SUNPHARMA

COVARIANCE(SUNPHARMA,NIFTY)
2.11031E-05
VARIANCE(NIFTY)
7.05658E-05
THEREFORE THE BETA VALUE IS
0.299055386
INTERPRETATION
http://www.sunpharma.com/FinanTabular.do
TABLE SHOWING MOVING AVERAGE OF SUN PHARMA
TABLE 5.8
25
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

279.4159722
301.4673016
429.9820833
574.7605435
617.0050144
591.2589683
378.2484848
478.7039855
484.398764
515.340807
628.1541162
651.3799242
FIGURE 5.3
MOVING AVERAGE OF SUN PHARMA

700
600
Price
500
400
AVG CLG PRICE
300
MOV AVG
200
100
3r
d
1s
tq
r tr
-0
8
qr
tr0
1s
tq 8
r tr
-0
3r
9
d
qr
tr0
1s
tq 9
r tr
-1
3r
0
d
qr
tr10
Period
http://www.sunpharma.com/FinanTabular.do
INTERPRETATION
MOV AVG
336.9551
435.4033
540.5825
594.3415
528.8375
482.7371
447.1171
492.8145
542.6312
598.2916
26
The average closing price as on 4th quarter 2010 is 651.379 which is greater than
the moving average. Hence the securitys price has been trending up. This shows the buy
TABLE SHOWING MONEY FLOW INDEX OF SUN PHARMA
TABLE 5.9
Date
High
Low
Close
Total Trd Qty
2-Jan-11
685.75
671.25
682.15
71838
3-Jan-11
687
675
682
116629
4-Jan-11
5-Jan-11
698
687
678.15
671.3
681.95
675.7
219904
131966
6-Jan-11
9-Jan-11
684.65
689.45
675.55
676.1
679.6
680.3
121618
118616
10-Jan-11
692
676.25
681
106148
12-Jan-11
686
635
669
82200
13-Jan-11
16-Jan-11
684
684.35
662
671
674.1
679.1
70531
77269
17-Jan-11
18-Jan-11
684.8
684.95
668
665.1
673.95
670.9
55519
54043
19-Jan-11
674.75
664
665.95
161037
20-Jan-11
23-Jan-11
678
671
663.05
662
669.9
666.65
61306
102818
24-Jan-11
684.8
669
677
122733
25-Jan-11
688
675
684.1
220329
27-Jan-11
692.8
678
684
178326
30-Jan-11
692.5
675
680.25
74438
31-Jan-11
699
675.25
695.8
294310
1-Feb-11
738
695
722.1
657900
2-Feb-11
750
720.3
738.25
296088
3-Feb-11
775
729.8
769.75
443043
6-Feb-11
7-Feb-11
808.5
825.95
753
790
803.9
801.3
493221
328065
Avg price
679.716666
7
681.333333
3
686.033333
3
678
679.933333
3
681.95
683.083333
3
663.333333
3
673.366666
7
678.15
675.583333
3
673.65
668.233333
3
670.316666
7
666.55
676.933333
3
682.366666
7
684.933333
3
682.583333
3
690.016666
7
718.366666
7
736.183333
3
758.183333
3
788.466666
7
805.75
Money
48829485.9
79463225.33
150861474.1
89472948
82692132.13
80890181.2
72507929.67
54526000
47493224.37
52399972.35
37507711.08
36406066.95
107610291.3
41094433.57
68533337.9
83082058.8
150345165.3
122141421.6
50810138.17
203078805.2
472613430
217975050.8
335907818.6
388888317.8
264338373.8
27
8-Feb-11
821
791
800.75
157364
10-Feb-11
818
780.15
789.6
209592
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
799
787
796
780
776.15
769.95
783.5
779
771
765.25
766
757
750.95
765
785.3
776.6
775.75
776.15
760.05
762.1
779.95
151417
170516
178641
49845
163045
66338
141934
22-Feb-11
23-Feb-11
24-Feb-11
795
795
787.9
775.1
780.05
772.1
783.65
787.3
779.4
200874
300501
53994
27-Feb-11
28-Feb-11
787
789.4
770.05
765.1
772.7
777.85
66978
89140
1-Mar-11
2-Mar-11
782
795
767
750.55
773.8
787.25
86407
157895
3-Mar-11
804.7
775.25
781.15
110283
6-Mar-11
798
784.05
787.15
118419
7-Mar-11
787
704
766.15
159111
8-Mar-11
9-Mar-11
790
771.4
755
750.95
757.45
766.95
182854
331106
10-Mar-11
792.2
763
786.2
251028
13-Mar-11
796
782
787.45
220946
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
786.9
795.5
818.25
818
765.55
776
794
805
779.95
792.8
809.95
812.4
157644
169232
258462
133994
21-Mar-11
830.5
812.05
821.55
153117
22-Mar-11
834.4
817
827
241616
23-Mar-11
844.5
822.5
829.8
90277
24-Mar-11
834.95
818
829.9
69250
27-Mar-11
845
820
839.05
227760
28-Mar-11
29-Mar-11
845.5
865
827
820
832.4
855.55
115166
203458
30-Mar-11
935
845.05
907.85
142882
31-Mar-11
912
855
859.55
98018
804.25
795.916666
7
787.766666
7
778.2
779
774.05
764.4
761
776.15
784.583333
3
787.45
779.8
776.583333
3
777.45
774.266666
7
777.6
787.033333
3
789.733333
3
752.383333
3
767.483333
3
763.1
780.466666
7
788.483333
3
777.466666
7
788.1
807.4
811.8
821.366666
7
826.133333
3
832.266666
7
827.616666
7
834.683333
3
834.966666
7
846.85
895.966666
7
875.516666
7
126559997
166817766
119281265.4
132695551.2
139161339
38582522.25
124631598
50483218
110162074.1
157602392.5
236629512.5
42104521.2
52013998.5
69301893
66902059.87
122779152
86796397.1
93519431.6
119712464.6
140337397.4
252666988.6
195918986.4
174212238.6
122562955.2
133371739.2
208682218.8
108776329.2
125765199.9
199607031.5
75134537.87
57312454.17
190107476
96159771.13
172298407.3
128017509.3
85816392.63
28
INTERPRETATION
Example the 2nd Day of January the Money Flow is 48829485.9 and the money flow of 3rd
January is 79463225.33. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. Take for example the 4th day of
January the Money flow is 150861474.1 and the money flow of 5th January is 89472948
http://www.sunpharma.com/Stockprice.do
TABLE SHOWING AVERAGE RETURN OF CHENNAI PETRO AND NIFTY

FOR THREE YEARS
TABLE 5.10
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

0.0021
0.0024
0.0002
0.0029
0.0290
-0.0027
0.0095
0.0153
-0.0088
0.0007
0.0024
0.0095
-0.0005
0.0041
0.0213
0.0047
-0.0112
-0.0005
NIFTY
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
AVG MKT RET

0.0113
0.0035
0.0082
0.0153
0.0008
-0.0015
-0.0029
-0.0035
0.0065
-0.0022
-0.0034
-0.0044
0.0015
0.0059
0.0113
-0.0053
0.0019
-0.0027
NIFTY
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
29
BETA CALCULATION FOR CHENNAI PETRO

COVARIANCE(CHENNAI PTERO,NIFTY)
2.09944E-05
VARIANCE(NIFTY)
0.000129143
0.162567276
INTERPRETATION
http://www.cpcl.co.in/financial_performance-results.htm
TABLE SHOWING MOVING AVERAGE OF CHENNAI PETRO
TABLE 5.11
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

29.05932685
43.83992063
67.40272727
76.84471014
96.42032733
134.4382071
144.7924242
224.6025362
220.414996
213.3820125
212.9737518
246.1598485
MOV AVG
46.7673249
62.695786
80.2225883
102.567748
125.216986
167.944389
196.603319
219.466515
215.590253
224.171871
30
FIGURE 5.4
MOVING AVERAGE OF CHENNAI PETRO
300
250
Price
200
AVG CLG PRICE
150
MOV AVG
100
50
1s
tq
2n r tr d 08
q
3r rt rd 08
q
4t rt r0
h
q 8
1s rtrt q 08
2n r tr d 09
q
3r rt rd 09
q
4t rt r0
h
q 9
1s rtr- 0
tq 9
2n rtr d 10
q
3r rt rd 10
q
4t rt r1
h
qr 0
tr10
Period
http://www.cpcl.co.in/financial_performance-results.htm
INTERPRETATION
TABLE SHOWING THE MONEY FLOW INDEX OF CHENNAI PETRO
TABLE 5.12
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
High
232.9
236
236
239.5
Low
230
230.5
233
232
Close
231.45
234.9
233.8
238.3
Total Trd Qty

30133
172057
62230
202950
Avg price
231.45
233.80
234.27
236.62
Money flow
6974282.85
40226926.6
14578414.67
48021352.5
31
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
13-Jan-11
16-Jan-11
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
5
244.5
249.4
251.5
247.2
5
247
245.3
244.9
5
241
244
254.5
256.5
253.8
250
242.5
237
232
233
231.1
232
232.9
5
235
238.7
238
234
239
246.5
251.0
5
248.5
242
237.9
242.4
237.4
5
237
235
234
229.9
235.5
235
233.5
232.9
233.9
228.5
231
236
238.7
233.3
232.4
5
233
235.2
240.55
245.05
241.25
246.8
246.7
224212
220604
234090
240.32
245.58
247.75
53881880.47
54176665.67
57995797.5
237
243.05
242.25
245.4
245.2
243.55
122660
94498
55614
243.22
245.08
243.70
29832956.33
23159884.83
13553131.8
238.05
235.05
238
241.2
246.25
245
230
234
224
227
226.5
228.05
228.25
240.2
239.2
242
250.8
248.6
246.6
234.1
237.55
228.9
230.3
227.75
230.15
230.05
56781
62396
32377
81571
205860
66870
324090
162528
277488
85204
461172
72042
40476
241.07
238.42
241.33
248.83
250.45
248.47
238.03
238.02
229.97
229.77
229.08
229.77
230.10
13688006.4
14876246.33
7813649.333
20297583.83
51557637
16614966
77144223
38684372.8
63812990.4
19577039.07
105646819
16552850.2
9313527.6
229.55
229.2
229
231.6
231
233
237
231.45
231.05
231.25
233.15
233.05
236.05
241.55
40456
192219
271322
160508
31353
85120
595871
231.32
231.75
232.98
234.25
232.68
236.02
241.68
9358147.067
44546753.25
63213503.97
37598999
7295320.55
20089738.67
144012089.5
244
239.9
234.25
232.1
233
245.9
241.5
236.35
233.3
234.8
850733
285723
35700
30125
305580
246.98
243.30
237.53
234.43
236.73
210116872.1
69516405.9
8479940
7062304.167
72340972
191.25
231.5
228
222
220.55
229.15
231
231
230.3
225.3
224.3
226
227.5
230.5
230.1
231
232
229
224.5
228.75
233.95
233.35
231.85
231.5
226.65
226.85
227.45
233.7
231.8
231.85
320530
45363
123832
92596
119205
164017
67794
32754
35214
65045
36173
72650
80201
80944
50741
219.90
233.50
230.67
226.83
226.40
232.87
233.12
232.12
231.57
228.62
226.55
228.15
232.40
233.67
231.75
70484547
10592260.5
28563914.67
21003859.33
26988012
38194092.07
15803911.3
7602749.3
8154388.6
14870371.08
8194993.15
16575097.5
18638712.4
18913914.67
11759226.75
228
229
229.1
231.25
28404
44145
229.85
231.08
6528659.4
10201173.75
32
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
232.9
232.8
232.8
232.5
232.3
5
231.5
228
227.0
5
222.8
5
227.1
227
227.1
228.5
231.2
230.25
229.05
230.15
75161
67626
36708
53652
230.40
230.02
229.65
230.38
17317094.4
15555107.1
8429992.2
12360526.6
225
226.55
225.1
228.15
227.6
225.85
60990
85675
93184
228.50
228.55
226.32
13936215
19581021.25
21089092.27
212
216.45
152143
218.50
33243245.5
216
220.5
116884
219.78
25689155.13
INTERPRETATION
30th March is 33243245.5. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. On the 31st of March the money
flow is 25689155.13. This is Negative and it can be concluded that it is not a good sign to
Purchase.
http://www.cpcl.co.in/investors_centre_share-price.htm
TABLE SHOWING AVERAGE RETURN OF GAIL AND NIFTY FOR THREE

YEARS
TABLE 5.13
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
AVG MKT RET

-0.0001
0.0067
-0.0029
0.0031
0.0126
0.0037
0.0040
NIFTY AVG
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
AVG MKT RET

0.0067
-0.0026
0.0016
0.0013
0.0057
0.0026
0.0005
NIFTY AVG
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
33
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
0.0055
0.0051
0.0047
0.0041
0.0186
-0.0064
-0.0040
0.0027
0.0016
-0.0110
0.0039
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
0.0025
-0.0057
-0.0018
0.0022
0.0028
-0.0002
0.0016
0.0060
-0.0054
0.0066
-0.0001
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0045
0.0057
0.0031
BETA CALCULATION FOR GAIL

COVARIANCE(GAIL ,NIFTY)
8.15154E-06
VARIANCE(NIFTY)
7.58398E-06
1.074836273
INTERPRETATION
BETA=1.075 the beta value is GREATER
than 1, that is securitys price
will be more volatile than the market, and therefore buying this share is more risky.
http://www.gailonline.com/final_site/share_holding.html
TABLE SHOWING MOVING AVERAGE OF GAIL

TABLE 5.14
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
AVG CLG PRICE

73.06
90.24
125.69
177.58
224.98
195.57
183.98
213.41
232.35
215.36
MOV AVG
96.33
131.17
176.08
199.38
201.51
197.65
209.91
220.37
227.85
34
3rd qrtr-10
4th qrtr-10
235.84
260.17
237.12
FIGURE 5.5
MOVING AVERAGE OF GAIL

300
250
Price
200
AVG CLG PRICE
150
MOV AVG
100
50
1s
tq
2n rtr d 08
q
3r rtrd 08
q
4t rtr0
h
q 8
1s rtrt q 08
2n rtr d 09
q
3r rtrd 09
q
4t rtr0
h
q 9
1s rtr- 0
tq 9
2n rtr d 10
q
3r rtrd 10
q
4t rtr1
h
qr 0
tr10
Period
http://www.gailonline.com/final_site/share_holding.html
INTERPRETATION
TABLE SHOWING MONEY FLOW INDEX OF GAIL
TABLE 5.15
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
High
269.5
268.45
271.6
281.9
283.9
285
284.4
Low
263.55
264.6
266.55
270
275.1
280
277.1
Close
264.95
266
269.95
280.45
282.5
281.25
282.85
Total Trd Qty

648669
2352222
2990856
1752617
1857561
731620
1033199
Avg price
266.0000
266.3500
269.3667
277.4500
280.5000
282.0833
281.4500
Money flow
172545954
626514330
805636911
486263587
521045861
206377808
290793859
35
12-Jan-11
13-Jan-11
16-Jan-11
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
284.75
288.5
280
277.9
276.8
280
282.5
282.5
277.9
276.9
278.7
287.25
293.5
293.95
290.9
294.9
292.9
296.5
289.3
286.35
285.9
287.5
299
286
283.85
278.35
280.5
281.4
279
277.85
278.15
281.9
276
291
287
281.65
285.65
285.5
276.4
276.7
276.5
275
275
281
291
293.9
290.8
289.25
292.75
307.45
313.5
314.25
320.5
325.7
277.1
281.55
275
268
266.15
270
277.15
271
271.5
268
274
276.15
285
283
282
280
288.3
285.3
281.3
280
279
281.1
285.15
280
277.15
269.15
276.1
276.05
269.6
273.25
274
269.15
269.15
274.6
275.65
277
277.6
269.5
267
271
271.75
269.5
270
271
281
285.7
281.6
279
285
292.5
307
306.15
307.25
316
282.75
285.75
276.25
271.2
276
279.05
280.95
273.85
273.65
272.85
276.6
286
292.45
285.6
283.1
291.75
291
288.3
282.05
282.5
282.05
285.1
286.6
282.15
278.25
275.65
278.2
277.2
273.75
274.2
275.15
272.8
274.65
281.3
277.4
279.25
279.65
273
272.7
272.35
273.95
271.4
273.85
279.8
285.55
290.05
283.75
286.7
291.05
305.15
309
311.6
316.25
318.5
754587
1409393
689222
786943
809332
519203
615161
365267
648375
616951
803261
1116317
1173481
1030028
594860
1921654
298495
1280083
684608
647888
831189
1060448
1341909
924934
750227
355802
245573
412528
1128831
792210
565483
580800
517459
23059122
614548
550151
951686
2516267
767035
807408
402022
761050
554753
1131333
1906365
2140493
2179924
1539178
1096933
2581448
2183586
1169448
2541508
1965403
281.5333
285.2667
277.0833
272.3667
272.9833
276.3500
280.2000
275.7833
274.3500
272.5833
276.4333
283.1333
290.3167
287.5167
285.3333
288.8833
290.7333
290.0333
284.2167
282.9500
282.3167
284.5667
290.2500
282.7167
279.7500
274.3833
278.2667
278.2167
274.1167
275.1000
275.7667
274.6167
273.2667
282.3000
280.0167
279.3000
280.9667
276.0000
272.0333
273.3500
274.0667
271.9667
272.9500
277.2667
285.8500
289.8833
285.3833
284.9833
289.6000
301.7000
309.8333
310.6667
314.6667
320.0667
212441393
402052843
190971929
214337042
220934147
143481749
172368112
100734551
177881681
168170560
222048116
316066553
340681092
296150217
169733387
555133813
86782446.3
371266739
194577004
183319910
234658508
301768153
389489087
261494257
209876003
97626138.8
68334780.1
114772165
309431391
217936971
155941362
159497360
141404296
6509590141
172083682
153657174
267392043
694489692
208659088
220704977
110180829
206980232
151419831
313680930
544934435
620493246
622113978
438640077
317671797
778822862
676547729
363308512
799727851
629059987
36
http://www.gailonline.com/final_site/financial_result.html
INTERPRETATION
Example the 13th Day of March the Money Flow is 110180829 and the money flow of 14th
March is206980232. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. On the 16th of March the money
flow is 151419831. This is Negative and it can be concluded that it is not a good sign to
Purchase.
TABLE SHOWING AVERAGE RETURN OF IOC AND NIFTY FOR THREE

YEARS
TABLE 5.16
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
AVG MKT
RET
0.0004
0.0000
-0.0013
0.0006
0.0201
0.0069
0.0033
-0.0019
0.0000
-0.0033
0.0043
0.0089
-0.0006
0.0013
0.0047
0.0024
NIFTY
AVG
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
AVG MKT
RET
0.0042
0.0010
0.0034
-0.0005
0.0013
0.0068
-0.0063
0.0040
-0.0050
0.0003
0.0025
-0.0040
-0.0028
0.0022
0.0038
-0.0011
NIFTY
AVG
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
37
May-09
Jun-09
-0.0186
0.0048
-0.0082
0.0008
Nov-10
Dec-10
0.0096
0.0023
0.0057
0.0031
BETA CALCULATION FOR IOC

COVARIANCE(IOC ,NIFTY)
1.12331E-05
VARIANCE(NIFTY)
0.000129143
0.086981891
INTERPRETATION
BETA=0.0869 the beta value is LESSER
than 1, that is securitys price will be
less volatile than the market, and therefore buying this share is less risky.
http://www.iocl.com/downloads/PresentationtobankersApril302010.pdf
TABLE SHOWING MOVING AVERAGE OF IOC
TABLE 5.17
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

240.60
304.73
398.22
381.41
480.82
444.27
393.10
463.13
469.46
447.79
424.92
495.93
MOV AVG
314.52
361.46
420.15
435.50
439.39
433.50
441.90
460.13
447.39
456.21
38
FIGURE 5.6
MOVING AVERAGE OF IOC
600
500
Price
400
AVG CLG PRICE
300
MOV AVG
200
100
1s
tq
2n r tr d 08
q
3r rtrd 08
q
4t rt r0
h
q 8
1s rtrt q 08
2n r tr d 09
q
3r rt rd 09
q
4t rt r-0
h
q 9
1s rt rt q 09
2n r tr d 10
q
3r rt rd 10
q
4t rt r1
h
qr 0
t r10
Period
http://www.iocl.com/downloads/PresentationtobankersApril302010.pdf
INTERPRETATION
TABLE SHOWING MONEY FLOW INDEX OF IOC
TABLE 5.18
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
High
559.5
569.6
567
565
570
566.95
570
560
Low
554
557.25
555.1
553.1
557
558
551.1
546.75
Close
555.15
561.25
563.85
560.8
561.75
564.9
552.65
554.3
Total Trd Qty

66430
153830
154226
191196
337107
181121
81328
79018
Avg price
556.2167
562.7000
561.9833
559.6333
562.9167
563.2833
557.9167
553.6833
Money flow
36949473.17
86560141
86672441.57
106999654.8
189763148.8
102022440.6
45374246.67
43750949.63
39
13-Jan-11
16-Jan-11
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
560.7
556.3
557.45
554
556.6
552
547
539.8
539.9
535.85
530
518.9
514
519.8
535
527.9
527
537.9
532.1
529
536
544
573
569
562
561.2
584
589
597.5
594.5
598.9
568
576
574.4
568.9
577
575
568
575.9
572.9
565
562
560
555
550.5
554
563.5
571
575
578
572
580.55
587
551.6
542
549.6
540
552
545
530
525
526.5
522.7
505.25
505.1
506
508.5
515.9
511.7
513
514
517
519
524
530.4
538
552.05
543
544
561
570
582
585
544
551.3
560
560.2
555.95
558.5
559
557.05
563.2
556.25
542
552
542.15
542
449.9
540.05
554
561.5
558
560
560
560
566.05
553
554.9
555
552.2
552.35
546.45
530.95
529.6
531.55
528.9
514.9
510.7
508.45
516.35
525.2
514.3
514.6
525.4
521.35
522.05
528.6
532.45
557.2
555.1
559.25
559.6
571.45
581
589.45
586.25
557.45
555.7
563.05
562.3
559.9
565.5
561.45
564.75
565.05
560.25
557.25
557.95
546.9
543.7
544.8
552.25
561.65
569.8
573.9
566.75
564.2
576.35
584.4
63833
141278
266177
167827
22648
92987
165969
31000
183143
89900
327161
209916
99508
99480
264209
248015
450579
832599
244197
566566
325401
376935
1587392
542062
213659
148823
731141
599490
693741
330600
844331
563008
239871
203063
172626
242867
204694
104344
274454
195345
299280
121048
239163
108758
596915
138772
534975
303914
156772
74236
147894
179240
215610
555.1000
551.0667
554.0167
548.7333
553.6500
547.8167
535.9833
531.4667
532.6500
529.1500
516.7167
511.5667
509.4833
514.8833
525.3667
517.9667
518.2000
525.7667
523.4833
523.3500
529.5333
535.6167
556.0667
558.7167
554.7500
554.9333
572.1500
580.0000
589.6500
588.5833
566.7833
558.3333
566.3500
565.6333
561.5833
567.0000
565.1500
563.2667
568.0500
563.1333
554.7500
557.3167
549.6833
546.9000
515.0667
548.7667
559.7167
567.4333
568.9667
568.2500
565.4000
572.3000
579.1500
35433698.3
77853596.53
147466494.3
92092269.13
12539065.2
50939828.38
88956617.85
16475466.67
97551118.95
47570585
169049541.4
107386028.4
50697667.53
51220594
138806601.6
128463502.8
233490037.8
437752800.9
127833059.6
296512316.1
172310676.2
201892668.3
882695778.1
302859073.8
118527330.3
82586843.47
418322323.2
347704200
409064380.7
194585650
478552738.6
314346133.3
135850940.9
114859201.6
96943884.5
137705589
115682814.1
58773497.07
155903594.7
110005281
166025580
67462067.87
131463915.1
59479750.2
307451019.3
76153447.87
299434423.8
172450934.1
89198042.27
42184607
83619267.6
102579052
124870531.5
40
INTERPRETATION
Example the 20th Day of February the Money Flow is 118527330.3 and the money flow of
21st February is 82586843.47. So it shows the Positive Money flow over the day. So, it can
be concluded that the investors can purchase the securities. On the 22nd of February the
money flow is 418322323.2. This is Negative and it can be concluded that it is not a good
sign to Purchase.
http://www.iocl.com/stock_prices.aspx
TABLE SHOWING AVERAGE RETURN OF BANNARIAMMAN SUGARS AND

NIFTY FOR THREE YEARS
TABLE 5.19
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

-0.0034
-0.0035
-0.0097
-0.0054
0.0172
0.0008
0.0109
0.0009
-0.0003
0.0105
0.0096
0.0206
-0.0062
0.0023
-0.0043
0.0137
-0.0142
0.0045
NIFTY
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
AVG MKT RET

0.0035
0.0049
-0.0023
0.0034
0.0021
0.0121
0.0080
-0.0001
-0.0017
-0.0048
0.0005
0.0078
0.0104
0.0046
0.0006
-0.0054
0.0092
0.0148
NIFTY
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
41
BETA CALCULATION FOR BANNARIAMMAN SUGARS

COVARIANCE(BANNARI ,NIFTY)
2.80294E-05
VARIANCE(NIFTY)
0.000129143
0.21704221
INTERPRETATION
http://www.bannari.com/sugar.html
TABLE SHOWING MOVING AVERAGE OF BANNARIAMMAN SUGARS

TABLE 5.20
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

123.7329902
111.5711376
156.2049103
225.0055632
308.6357561
311.3622006
330.094697
382.3821014
536.0607257
504.1140217
743.7253211
842.515303
FIGURE 5.7
MOV AVG
130.503013
164.260537
229.948743
281.66784
316.697551
341.279666
416.179175
474.185616
594.633356
696.784882
42
900
800
700
600
500
400
300
200
100
0
AVG CLG PRICE

MOV AVG
1s
tq
2n r tr d 08
q
3r rtrd 08
q
4t rtr0
h
q 8
1s rtrt q 08
2n r tr d 09
q
3r rtrd 09
q
4t rtr-0
h
q 9
1s rt rt q 09
2n r tr d 10
q
3r rtrd 10
q
4t rtr1
h
qr 0
t r10
Price
MOVING AVERAGE OF BANNARIAMMAN SUGARS
Period
INTERPRETATION
The average closing price as on 4th quarter 2010 is 842.51which is lesser than the
moving average. Hence the securitys price has been trending down. This shows the sell
TABLE SHOWING MONEY FLOW INDEX OF BANNARIAMMAN SUGARS
TABLE 5.21
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
13-Jan-11
16-Jan-11
17-Jan-11
High
1198
1199
1200
1177
1160
1163
1155
1135
1155
1165
1179.9
Low
1171.95
1175.15
1140
1116
1077.5
1100
1115
1085.1
1125
1106.3
1145.1
Close
1177.15
1182
1145.6
1125.8
1125.55
1108.15
1125.75
1114.3
1137.6
1146.05
1160.95
Total Trd Qty

3830
1461
2891
1835
2565
8122
2985
8736
4493
4711
2319
Avg price
1,182.3667
1,185.3833
1,161.8667
1,139.6000
1,121.0167
1,123.7167
1,131.9167
1,111.4667
1,139.2000
1,139.1167
1,161.9833
Money flow
4528464
1731845
3358957
2091166
2875408
9126827
3378771
9709773
5118426
5366379
2694639
43
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
1167.9
1275
1310
1325
1328.35
1399
1450
1479
1369
1330.05
1416.5
1405
1371
1385
1384
1375
1355
1369
1350
1338.8
1295
1268.8
1260
1285
1319
1283.65
1314
1310
1330
1341.8
1415
1450
1499
1450
1440
1430
1448
1400
1391.9
1389
1329.8
1369.9
1390
1370
1325
1300
1287.8
1352.9
1425
1410
1116.1
1164
1250
1273.9
1310
1285
1357
1330
1270.35
1273
1270
1335
1320
1322.1
1337
1350
1330
1330
1288.1
1280
1265
1226.1
1240
1250.05
1260
1234.2
1253.25
1281
1262
1310
1305
1392
1395.05
1353
1350
1370
1352.05
1326
1305
1290
1295.05
1328
1322
1307
1265
1255
1220
1240
1377
1349.8
1162.75
1234.8
1266.6
1293.3
1321.6
1347.4
1421.35
1343.6
1305.25
1287.75
1372.45
1346.65
1353.65
1374.35
1344.05
1353.75
1341.35
1332.55
1295.8
1294.9
1270.05
1263.4
1245.35
1271.65
1264.8
1273
1301.35
1307.2
1308.65
1319.5
1378.7
1445.2
1447.5
1375.95
1401.05
1387.55
1359.5
1349.35
1316.35
1317.1
1312.85
1343.8
1334.4
1319.2
1285.25
1259.85
1229.9
1352.9
1384.55
1386.95
2207
16556
8575
6027
4282
12145
6290
4464
4416
5244
11217
10188
5325
4122
1665
2049
1010
1575
1824
2010
2117
737
527
1773
685
2901
2204
989
1291
2792
3224
4291
4924
1937
1923
1190
3171
1831
1048
1912
3016
2689
52536
2823
6733
3193
2916
22621
11314
7767
1,148.9167
1,224.6000
1,275.5333
1,297.4000
1,319.9833
1,343.8000
1,409.4500
1,384.2000
1,314.8667
1,296.9333
1,352.9833
1,362.2167
1,348.2167
1,360.4833
1,355.0167
1,359.5833
1,342.1167
1,343.8500
1,311.3000
1,304.5667
1,276.6833
1,252.7667
1,248.4500
1,268.9000
1,281.2667
1,263.6167
1,289.5333
1,299.4000
1,300.2167
1,323.7667
1,366.2333
1,429.0667
1,447.1833
1,392.9833
1,397.0167
1,395.8500
1,386.5167
1,358.4500
1,337.7500
1,332.0333
1,312.5667
1,347.2333
1,348.8000
1,332.0667
1,291.7500
1,271.6167
1,245.9000
1,315.2667
1,395.5167
1,382.2500
2535659
20274478
10937698
7819430
5652169
16320451
8865441
6179069
5806451
6801118
15176414
13878263
7179254
5607912
2256103
2785786
1355538
2116564
2391811
2622179
2702739
923289
657933.2
2249760
877667.7
3665752
2842131
1285107
1678580
3695957
4404736
6132125
7125931
2698209
2686463
1661062
4396644
2487322
1401962
2546848
3958701
3622710
70860557
3760424
8697353
4060272
3633044
29752647
15788876
10735936
44
INTERPRETATION
Example the 23rd Day of March the Money Flow is 3760424 and the money flow of 24th
March is 8697353. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. Take for example on 27th March,
the Money flow is 4060272 and the money flow of 28th March is 3633044. This is
Negative and it can be concluded that it is not a good sign to Purchase.
TABLE SHOWING AVERAGE RETURN OF RAJSHREE SUGARS AND NIFTY

FOR THREE YEARS
TABLE 5.22
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

-0.0048
0.0034
-0.0064
0.0028
0.0068
0.0181
0.0108
0.0129
-0.0096
-0.0001
0.0098
0.0050
-0.0112
0.0088
-0.0009
0.0266
-0.0147
0.0026
NIFTY
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
BETA CALCULATION FOR RAJSHREE SUGARS
AVG MKT RET

0.0059
0.0096
-0.0031
0.0081
0.0000
0.0150
0.0007
0.0047
-0.0090
-0.0015
0.0060
0.0012
0.0093
0.0111
-0.0062
-0.0025
0.0056
0.0149
NIFTY
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
45
1.97665E-05
VARIANCE(NIFTY)
0.000129143
0.153059863
INTERPRETATION
volatile than the market, and therefore buying this share is less risk.
http://www.moneycontrol.com/india/stockpricequote/sugar/rajshreesugarschemicals/
RSC
TABLE SHOWING MOVING AVERAGE OF RAJSHREE SUGARS

TABLE 5.23
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

10.37619947
12.01388889
21.67138669
23.02863636
22.77023999
28.64428571
32.23560606
40.77365942
53.38451356
50.32540514
70.39945166
74.51992424
FIGURE 5.8
MOV AVG
14.687158
18.904637
22.490088
24.814387
27.883377
33.884517
42.13126
48.161193
58.036457
65.081594
46
MOVING AVERAGE OF RAJSHREE SUGARS

80
70
60
Price
50
AVG CLG PRICE
40
MOV AVG
30
20
10
0
1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th
qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr- qrtr08 08 08 08 09 09 09 09 10 10 10 10
Period
RSC
INTERPRETATION
TABLE SHOWING MONEY FLOW INDEX OF RAJSHREE SUGARS

TABLE 5.24
Date
2-Jan-11
3-Jan-11
4-Jan-11
5-Jan-11
6-Jan-11
9-Jan-11
10-Jan-11
12-Jan-11
13-Jan-11
16-Jan-11
High
103.9
108.4
107.5
104.4
105.75
107.5
111.3
117.7
119.85
124
Low
100.05
101.55
103.3
101.2
101.1
104
104.1
106.1
114.6
117.3
Close
100.95
106.3
103.85
102
104.45
105.75
108
113.65
116.35
121.95
Total Trd Qty

462695
1141842
456039
267272
392749
629035
1520352
1482372
848932
1295942
Avg price
101.6333
105.4167
104.8833
102.5333
103.7667
105.7500
107.8000
112.4833
116.9333
121.0833
Money flow
47025235.17
120369177.5
47830890.45
27404289.07
40754254.57
66520451.25
163893945.6
166742143.8
99268448.53
156916977.2
47
17-Jan-11
18-Jan-11
19-Jan-11
20-Jan-11
23-Jan-11
24-Jan-11
25-Jan-11
27-Jan-11
30-Jan-11
31-Jan-11
1-Feb-11
2-Feb-11
3-Feb-11
6-Feb-11
7-Feb-11
8-Feb-11
10-Feb-11
13-Feb-11
14-Feb-11
15-Feb-11
16-Feb-11
17-Feb-11
20-Feb-11
21-Feb-11
22-Feb-11
23-Feb-11
24-Feb-11
27-Feb-11
28-Feb-11
1-Mar-11
2-Mar-11
3-Mar-11
6-Mar-11
7-Mar-11
8-Mar-11
9-Mar-11
10-Mar-11
13-Mar-11
14-Mar-11
16-Mar-11
17-Mar-11
20-Mar-11
21-Mar-11
22-Mar-11
23-Mar-11
24-Mar-11
27-Mar-11
28-Mar-11
29-Mar-11
30-Mar-11
31-Mar-11
132.5
134
134.25
141
148.05
155.45
163.25
155.1
150.6
141.8
136
137.85
144.45
148.95
147
148.7
146.5
144.6
147.25
145.7
147.4
144.85
140.5
143.7
142.7
142
138
137.4
138.85
143.45
142.7
141.9
146.9
147.9
146.4
141
143.7
146.6
147.5
143.8
142
143
147.5
147.5
146.3
145.45
148.5
162.55
178.85
187.8
197.2
123.25
124.25
128.05
136.6
140
153.5
147.7
141.5
138.2
133.15
130.5
131.1
139
140.5
140.05
142.15
141
139.25
140.5
142.75
143
136.5
132
136.55
136.65
133
134.1
132.15
132
134
135.55
135.35
135.05
143
136.5
134.75
138.75
140.05
140.3
140
139.25
139.5
139.9
143
141.35
141.5
143
149.05
164.05
187.8
184.6
128.85
127.85
134.25
141
148.05
155.45
147.7
145.45
138.7
134.95
131.25
137.55
144.3
142.35
145.8
145.15
141.95
140.45
143.1
144.05
144
138.2
136.2
141.2
138.05
134.5
135.15
133.45
136.8
140.3
136.5
138
145.05
145.85
137.35
138.55
143
145.8
141.6
141.1
139.75
140.15
144
144.4
143.9
141.9
147.75
162.55
178.85
187.8
186.35
1614619
995160
492252
700958
390755
233153
819960
960689
408938
578407
446700
389545
838423
437596
556418
370791
257054
250282
441618
179395
199481
151959
216149
346404
165775
266286
109586
61294
175785
422776
66279
139902
608232
457850
127286
238821
309842
258185
129646
90005
105658
48960
274503
199158
71979
58626
179706
354320
234668
23901
618256
128.2000
128.7000
132.1833
139.5333
145.3667
154.8000
152.8833
147.3500
142.5000
136.6333
132.5833
135.5000
142.5833
143.9333
144.2833
145.3333
143.1500
141.4333
143.6167
144.1667
144.8000
139.8500
136.2333
140.4833
139.1333
136.5000
135.7500
134.3333
135.8833
139.2500
138.2500
138.4167
142.3333
145.5833
140.0833
138.1000
141.8167
144.1500
143.1333
141.6333
140.3333
140.8833
143.8000
144.9667
143.8500
142.9500
146.4167
158.0500
173.9167
187.8000
189.3833
206994155.8
128077092
65067510.2
97807006.27
56802751.83
36092084.4
125358218
141557524.2
58273665
79029676.43
59224975
52783347.5
119545146.1
62984650.93
80281843.77
53888292
36797280.1
35398217.53
63423705.1
25862779.17
28884848.8
21251466.15
29446698.77
48663988.6
23064828.33
36348039
14876299.5
8233827.333
23886251.75
58871558
9163071.75
19364768.5
86571688
66655329.17
17830647.17
32981180.1
43940759.63
37217367.75
18556664.13
12747708.17
14827339.33
6897648
39473531.4
28871271.4
10354179.15
8380586.7
26311953.5
56000276
40812676.33
4488607.8
117087382.1
48
INTERPRETATION
Example the 24th Day of March the Money Flow is 8380586.7 and the money flow of 27th
March is 26311953.5. So it shows the Positive Money flow over the day. So, it can be
concluded that the investors can purchase the securities. On the other hand on 29 th March
the money flow is 40812676.33 which is lesser than the previous day. This is Negative
and it can be concluded that it is not a good sign to Purchase.
RSC
TABLE SHOWING AVERAGE RETURN OF SHAKTI SUGARS AND NIFTY FOR

THREE YEARS
TABLE 5.25
MONTH
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
AVG MKT RET

-0.0076
-0.0016
-0.0096
0.0024
0.0181
0.0053
0.0230
0.0458
-0.0137
0.0051
-0.0029
0.0283
-0.0072
-0.0075
0.0013
0.0166
-0.0158
-0.0007
NIFTY
-0.0021
0.0011
-0.0041
-0.0022
0.0036
0.0057
0.0020
0.0069
0.0021
0.0042
0.0020
0.0070
-0.0016
-0.0001
-0.0006
0.0008
-0.0082
0.0008
MONTH
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
BETA CALCULATION FOR SHAKTI SUGARS
AVG MKT RET

0.0039
0.0100
-0.0059
0.0000
0.0055
0.0193
0.0017
0.0091
0.0096
-0.0011
0.0029
0.0061
0.0040
0.0080
-0.0056
-0.0058
0.0078
0.0165
NIFTY
0.0038
0.0000
0.0031
0.0012
0.0046
0.0027
-0.0005
0.0011
-0.0014
-0.0033
0.0042
0.0027
0.0021
0.0014
0.0042
-0.0452
0.0057
0.0031
49
2.81578E-05
VARIANCE(NIFTY)
0.000129143
0.218036789
INTERPRETATION
volatile than the market, and therefore buying this share is less risk.
http://www.sakthisugars.com/company_milestones_sugarsfactory.html
TABLE SHOWING MOVING AVERAGE OF SHAKTI SUGARS

TABLE 5.26
QUARTER
1st qrtr-08
2nd qrtr-08
3rd qrtr-08
4th qrtr-08
1st qrtr-09
2nd qrtr-09
3rd qrtr-09
4th qrtr-09
1st qrtr-10
2nd qrtr-10
3rd qrtr-10
4th qrtr-10
AVG CLG PRICE

6.667596074
7.338343254
20.34917325
27.05897233
33.68001633
30.86094877
30.11439394
34.10303394
55.85201356
70.33610672
93.25993867
90.91439394
FIGURE 5.9
MOV AVG
11.4517
18.24883
27.02939
30.53331
31.55179
31.69279
40.02315
53.43038
73.14935
84.83681
50
MOVING AVERAGE OF SHAKTI SUGARS
AVG CLG PRICE

MOV AVG
1s
tq
2n r tr d 08
q
3r rtrd 08
q
4t rtr0
h
q 8
1s rtrt q 08
2n r tr d 09
q
3r rtrd 09
q
4t rtr-0
h
q 9
1s rt rt q 09
2n r tr d 10
q
3r rtrd 10
q
4t rtr1
h
qr 0
t r10
Price
100
90
80
70
60
50
40
30
20
10
0
Period
INTERPRETATION
TABLE SHOWING MONEY FLOW INDEX OF SHAKTI SUGARS
TABLE 5.27
Date
High
Low
Close
Total Trd
Qty
2-Jan-11
132
126.4
127.25
637965
3-Jan-11
133.65
128
133.65
765597
4-Jan-11
139.9
135.3
136.85
1127894
5-Jan-11
138
131
132.1
395222
6-Jan-11
136.5
127
129.9
950603
Avg
price
128.550
0
131.766
7
137.350
0
133.700
0
131.133
3
Money flow
82010400.75
100880164.7
154916240.9
52841181.4
124655740.1
51
9-Jan-11
136.4
130.5
136.4
1172168
10-Jan-11
143.25
134.25
143.25
1758037
12-Jan-11
150.45
140
150.45
770657
13-Jan-11
158
154
158
250838
16-Jan-11
165.9
162.35
165.9
312593
17-Jan-11
174.2
160
160.75
2883100
18-Jan-11
168.8
160
167.2
2120406
19-Jan-11
175.6
170
175.6
169172
20-Jan-11
184.4
179.1
184.4
1982858
23-Jan-11
193.65
187.25
189.4
1536223
24-Jan-11
197.8
182
185.95
1251884
25-Jan-11
193
176.65
176.65
963556
27-Jan-11
185.5
169.3
175
2123558
30-Jan-11
178.9
167.1
168.1
643924
31-Jan-11
174.7
167
168.25
705305
1-Feb-11
173.9
162.1
164.8
703465
2-Feb-11
173.05
162.5
172.45
996415
3-Feb-11
181.1
175
181.1
656348
6-Feb-11
189.7
173.5
175.85
2092034
7-Feb-11
178.6
172.2
176.15
1412214
8-Feb-11
182.9
170.65
175.05
1427888
10-Feb-11
177
170
171.65
1086017
13-Feb-11
178.2
170.7
174.35
854048
14-Feb-11
187
173
179.1
2215767
15-Feb-11
181.9
175
175.5
581901
16-Feb-11
184.5
175
175.55
936846
17-Feb-11
177.85
160.3
162.6
816686
20-Feb-11
171.85
158.4
169
1483506
21-Feb-11
175.9
167.1
171.4
1637638
134.433
3
140.250
0
146.966
7
156.666
7
164.716
7
164.983
3
165.333
3
173.733
3
182.633
3
190.100
0
188.583
3
182.100
0
176.600
0
171.366
7
169.983
3
166.933
3
169.333
3
179.066
7
179.683
3
175.650
0
176.200
0
172.883
3
174.416
7
179.700
0
177.466
7
178.350
0
166.916
7
166.416
7
171.466
7
157578451.5
246564689.3
113260890.4
39297953.33
51489276.98
475663448.3
350573792
29390815.47
362135966.1
292035992.3
236084457.7
175463547.6
375020342.8
110347109.5
119890094.9
117431757.3
168726273.3
117530048.5
375903642.6
248055389.1
251593865.6
187754239
148960205.3
398173329.9
103268030.8
167086484.1
136318504.8
246880123.5
280800329.1
52
22-Feb-11
176.1
164.9
166.35
961974
23-Feb-11
171.9
165.25
166.7
956782
24-Feb-11
168.4
164.2
165.6
676415
27-Feb-11
167.5
160
160.9
508342
28-Feb-11
174
160
168.55
1047209
1-Mar-11
178.7
166.5
176.2
1750581
2-Mar-11
178
172.25
173.05
569425
3-Mar-11
174.45
169
169.4
374007
6-Mar-11
186.35
169.6
184.35
1653038
7-Mar-11
188.35
177.65
179.6
1894297
8-Mar-11
179.45
162.6
165.6
1062833
9-Mar-11
178.4
163.6
177
1573050
10-Mar-11
188.85
176.15
177.75
1070656
13-Mar-11
183.1
175
179.75
1278644
14-Mar-11
181.25
172.5
173.95
645423
16-Mar-11
179.85
173
177.5
584659
17-Mar-11
176.6
170
172.45
248823
20-Mar-11
176.25
170
172.05
511771
21-Mar-11
180.5
172.9
177.05
825687
22-Mar-11
183.5
176.35
178
1180001
23-Mar-11
180
171.8
173.3
380775
24-Mar-11
176.5
172.4
173.3
258008
27-Mar-11
182
174.4
180.2
610721
28-Mar-11
198.2
180
194.45
2875336
29-Mar-11
211.7
195.15
209.4
2950317
30-Mar-11
228.65
212
224.35
1954818
31-Mar-11
232.7
218.35
222.4
1508285
169.116
7
167.950
0
166.066
7
162.800
0
167.516
7
173.800
0
174.433
3
170.950
0
180.100
0
181.866
7
169.216
7
173.000
0
180.916
7
179.283
3
175.900
0
176.783
3
173.016
7
172.766
7
176.816
7
179.283
3
175.033
3
174.066
7
178.866
7
190.883
3
205.416
7
221.666
7
224.483
3
162685836.3
160691536.9
112329984.3
82758077.6
175424961
304250977.8
99326700.83
63936496.65
297712143.8
344509481.1
179849057.5
272137650
193699514.7
229239558.5
113529905.7
103357966.9
43050526.05
88416969.77
145995223.1
211554512.6
66648317.5
44910592.53
109237629.5
548853720.1
606044283.8
433317990
338584844.4
53
INTERPRETATION
Example the 2nd Day of January the Money Flow is 82010400.75 and the money flow of 3rd
January is 100880164.7. So it shows the Positive Money flow over the day. So, it can be
January the Money flow is 246564689.3and the money flow of 12th January is
113260890.4. This is Negative and it can be concluded that it is not a good sign to
Purchase.
CHAPTER 6
FINDINGS, SUGGESTIONS AND CONCLUSION
6.1 FINDINGS
Price fluctuation is a statistical measure of the tendency of market or security to rise
or fall sharply within a short period of time. Generally higher the fluctuation of a security,
greater is its price swings. Larger fluctuations mean returns fluctuate in a wide range.
From the analysis, the researcher has found that
Dr. Reddys
The average closing price is 910.04 which is greater than the moving average and
hence it shows a buy signal for the investors, BETA=0.162 which is lesser than 1
and hence it is less risky, the money flow index on 30th March low is 767410445.5
and the money flow of 31st March is 468086191.2. This is Negative and it can be
concluded that it is not a good sign to Purchase.
54
NOCIL
hence it shows a buy signal for the investors, Beta= 1.49 which is greater than 1
and hence it is more risky, the money flow index as on 10th Day of March is
21718875.03 and the money flow of 13th march is 23532178.67. So it shows the
Positive Money flow over the day which again shows a buy signal for the investors
Sun Pharma
hence it shows a buy signal for the investors, BETA=0.299 which is less than 1 and
hence it is less risky, the money flow index as on 2nd Day of January is is
48829485.9 and on 3rd is 79463225.33 which shows a positive money flow over the
day and hence shows a positive sign for purchase of shares.
Chennai Petro
hence it shows a buy signal for the investors, BETA=0.16 which is less than 1 and
hence it is less risky, the money flow as on 29th f March is 21089092.27 and the
money flow of 30th March is 33243245.5. So it shows the Positive Money flow
over the day, thus investors can purchase the securities.
55
GAIL
hence it shows a buy signal for the investors, BETA=1.07 which is greater than 1
and hence it is more risky, the money flow index as on 13th March is 110180829
and the money flow of 14th March is206980232. So it shows the Positive Money
flow over the day, and the investors can purchase the securities. On the 16th of
March the money flow is 151419831. This is Negative and it can be concluded that
it is not a good sign to Purchase.
IOC
hence it shows a buy signal for the investors, BETA=0.869 which is less than 1
and hence it is less risky, the money flow index as on 20th February is 118527330.3
and the money flow of 21st February is 82586843.47. So it shows the Positive
Money flow over the day. So, it can be concluded that the investors can purchase
the securities.
Bannariamman Sugars
The average closing price is 842.51 which are greater than the moving average and
hence it shows the buy signal for the investors. Beta is 0.21 which says that the
scrip is less risky, the money flow index as on 27th March is 4060272 and the
money flow of 28th March is 3633044. This is Negative and it can be concluded
that it is not a good sign to Purchase.
Rajshree Sugars
56
hence it shows the buy signal for the investors, beta is 0.15 which says that the
scrip is less risky, the money flow index as on 24th March is 8380586.7 and the
money flow of 27th March is 26311953.5. So it shows the Positive Money flow
over the day. So, it can be concluded that the investors can purchase the securities
Shakti Sugars
hence it shows the buy signal for the investors, beta is 0.15 which says that the
scrip is less risky, the money flow index as on 10th January is 246564689.3and the
money flow of 12th January is 113260890.4 This is Negative and it can be
concluded that it is not a good sign to Purchase.
6.2. SUGGESTIONS
Volatile markets are characterized by wide price fluctuations and heavy trading.
They often result from an imbalance of trade orders in one direction. Wide price
fluctuations are a daily occurrence on the worlds stock markets as investors react to
economic, business and political events. Markets have been showing extremely erratic
movements, which are in no way tandem with the information that is fed to the markets.
Market watchers see high volatility as a sign of investor nervousness which, in the counterintuitive world of markets, is of course bullish.
The present study on the single moving average model applied on selected
company scrips would help the investors to take investment decision. It is suggested that
the investors can invest in the shares that earns higher average returns. Also, the investors
can invest in the companies which involves less risk and which moves along with the
market.
6.3 CONCLUSION
57
In India most of the industries require huge amount of investments. Funds are
raised mostly through the issue of share. An investor is satisfied from the reasonable return
from investment in shares. Beside the investors are motivated to buy the shares from the
stock market either for speculation or investments. Speculation involves higher risks to get
return on the other hand investment involves no such risks and returns will be fair.
An investor can succeed in his investment only when he is able to select the right
shares. The investors should keenly watch the situations like market price, economy,
company progress, returns, and the risk involved in a share before taking decision on a
particular share. This study made will help the investors know the behavior of share prices
and thus can succeed.
REFERENCES
WEBSITES
1. www.nseindia.com
2. www.investopedia.com
3. www.equitymaster.com
4. www.moneycontrol.com
5. www.stockmaster.com
6. http://in.finance.yahoo.com/

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1.1. INTRODCUTION STOCK EXCHANGE

1.1.2 BOMBAY STOCK EXCHANGE

To safeguard the interest of the investing public having dealings on the

To establish and promote honorable and just practices in securities transaction.

To promote, develop, and maintain well regulated market for dealing in

To promote industrial development in the country through efficient resource

1.1.3 NATIONAL STOCK EXCHANGE

NSE is not owned by brokers. It is a limited liability company and brokers or

Traditional practices of unreliable fortnightly settlement cycle with escape clause of

1.2 INTRODUCTION TO THE PROJECT

1.3 TOOLS USED FOR ANALYSIS

1.3.2 ASSUMPTIONS OF TECHNICAL ANALYSIS

1.3.3 FACTORS AFFECTING STOCK PRICES

Stocks are affected by the following factors. They are as follows:

1.4 SIMPLE MOVING AVERAGE

When the securitys price rises above its moving average.

When the securitys price falls below its moving average.

capability, consumer preferences, labour, etc. contribute to unsystematic risks.

Beta = Cov (x,y) / var (x)

Market Value of Nifty

Market Value of the Company.

The analysis is done based on the following rule:

If the beta is 1 The company will move along with

If the beta is >1

The share is more volatile than the

If the beta is <1

The share is less volatile than the

1.4.3 MONEY FLOW INDEX

Money Flow Index

Avg Price x Days Volume.

2.2 Concept and Definition

3.1.1. PRIMARY OBJECTIVE

To analyses the stock price behaviors of selected industries.

3.1.2. SECONDARY OBJECTIVE

To predict the day to day fluctuations in the Stock Market using

To study the price movements in the stock market for 3 years

To recapitulate the key findings and offer suggestions to investors.

3.2 SCOPE OF THE STUDY

The study on fluctuations in equity market helps in understanding the behavior of

is to predict the future price movements using

The sectors selected are as follows:

Secondly, In the above mentioned sector five companies in each sector is

Indian Oil Corporation

4.4 METHOD OF SAMPLING

TABLE SHOWING AVERAGE RETURN OF DR.REDDYS AND NIFTY

AVG MKT RET

AVG MKT RET

BETA CALCULATION FOR DR.REDDYS FOR THREE YEARS

AVG CLOSING PRICE

MOVING AVERAGE OF DR.REDDYS

TABLE SHOWING MONEY FLOW INDEX OF DR.REDDYS

Total Trd Qty

TABLE SHOWING AVERGE RETURN OF NOCIL AND NIFTY FOR THREE

AVG MKT RET

AVG NIFTY RET

AVG MKT RET

AVG NIFTY RET

BETA CALCULATION FOR NOCIL

THEREFORE THE BETA VALUE

TABLE SHOWING MOVING AVERAGE OF NOCIL

AVG CLOSING PRICE

MOVING AVERAGE OF NOCIL