A STUDY OF THE BEST COMBINATION OF TECHNICAL ANALYSIS TOOLS USED IN THE STOCK MARKETS: EVIDENCE IN INDIAN CONTEXT

The stock market is volatile and can be influenced by multiple factors. This can be studied by the fundamental and technical analysis of the stock. Here the objective of this research paper is to study various technical analysis tools and determine the optimum combination of the above tools which can be used to generate buy or sell signals with the highest accuracy. Few technical indicators are studied and considered for this research like Trend lines, Support and Resistance (previous highs and lows), Candlesticks, Bollinger bands, RSI, Stochastics and Moving Averages. Five stocks from five different industries were studied and further analysed. and the Technical indicators in a 6-month time frame were checked. Bollinger Bands have the highest hit rates among all the other indicators with RSI having the second-highest and Williams % R the third.