Predictability Of Share Prices In India: A Study Of The Applicability Of Technical Analysis

In spite of the far longed practices of technical analysis by many participants in Indian stock market, none have arrived at the exact position of technical analysis as a tool for foretelling share prices. There is no evidence supporting that one has established its definite role in predicting the behaviour of share price and also to see the extent of validity (how far reliable) of technical tools in Indian stock market. The problem is the vacuum in the arena of securities market analysis where an unrecognised tool is practised, i.e., whether to hold on to technical analysis or to drop it. Again, as already stated in this chapter, its validity need not continue forever. It may become futile as happened in developed markets. Continuous practice of a tool, which is valid only during discontinuous times is also an error. The efficacy of different market phenomena in terms of their ability to foretell the extent and direction of the price movements and reliability thereof remain as not yet proved in. This requires further study in this area so that this controversy may be settled. A solution to the problem requires enquiring and establishing the applicability of technical analysis, if any, there is in the Indian stock market. The study has the following two broad objectives for the purpose of confirming the applicability, if any, of technical analysis in the Indian stock market. The first objective is to ascertain the current validity of ‘traditional holding with respect to patterns’ and the second objective is to ascertain the ‘consistent superiority’, if any, of technical indicators over non-signal strategies in return generation. The study analyses the five patterns, which are widely known and commonly found in publications. They are: (1) Symmetrical Triangles, (2) Rising Wedges, (3) Falling Wedges, (4) Head and Shoulders Top and (5) Head and Shoulders Bottom.

Studies on the, Physical Aspects of the Mud Banks along the Kerala Coast

A detailed survey of the present knowledge on the physical aspects of the mud banks has been presented in chapter 1.The physical geographical and geological aspects of the kerala coast, the shore-line and the sea bed and the various views on the formation,movements and dissipation of the mud banks have been discussed.The scope of the present work and a description of the area of study have also been given in this chapter. The horizontal and vertical distribution and the seasonal variations of the concentration of suspended matter in the mud bank region are discussed in chapter 3.it is seen that the mud bank reses above the bottom in the form of a ridged ,irregular,solid come with a flat top. Chapter vi deals with waves and currents in the region of the mud bank. The orientation of the breakers on either side of the mud bank suggests the possibility of formation of opposing alongshore currents and convergence of energy caused by wave refraction.The distribution of currents during the formative nature and dissipating stages of the mud bank show that the converging alongshore currents give rise to offshore flows