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Asian Journal of Management
Year : 2018, Volume : 9, Issue : 2
First page : ( 896) Last page : ( 908)
Print ISSN : 0976-495X. Online ISSN : 2321-5763.
Article DOI : 10.5958/2321-5763.2018.00142.7

An Evaluation of Nifty Pse Index Movements Through Fibonacci Series-A Study

Dr. Soundarapandiyan K.1,*, Dr. Ganesh M.2

1Professor, Sri Sairam Institute of Management Studies, Sri Sairam Engineering College, Chennai

2Professor and Director, Holy Angels School of Business, Siruvachur, Perambalur, ganeshm67@gmail.com

*Corresponding Author E-mail: soundarfinance@gmail.com

Online published on 25 December, 2018.

Abstract

Maximising return on investment requires thorough knowledge towards various investment assets and market terminology. Amongst various investment instruments capital market instruments are providing opportunity to give unimaginable return. To attain this benefit it makes mandatory to understand and implement the proven fundamental and technical analysis tools. This study illustrates the retracement and arc of the Fibonacci series of the technical analysis amongst the selected stocks in the NIFTY PSE index. The period of study was taken during the period of April 2016 to March 2017 which consists of various peaks and troughs during this period. The selected stocks are GAIL, NTPC, IOC, POWERGRID CORP and COAL INDIA. The final outcome of this study portrayed the support level and the target level of each selected stocks and also advised the investors stand on the given period of time.

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Keywords

Fibonacci series, NIFTY PSE, arc, retracement, target level, support level.

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