Technical analysis of equity shares project report

206
IL & FS INVESTSMART SECURITIES LTD ____________________________________________________ ___________ EXECUTIVE SUMMARY India is second fastest growing major economy in the world, with a GDP growth rate of 9.4%. It has emerged as the world's fastest growing wealth creator, thanks to a buoyant stock market and higher earnings The name “stock market” which when comes into the mind, everyone has different opinion. One feels it is risky to invest in stock market, others may perceive that it is game of gambling. Many of the investors may feel its great opportunity to make profit in the stock market. The opinion differs from person to person, investor to investors. But the recent trend in the stock regarding its volatility which leads to the depression and also losses for many investors. If when the investors ask him self about why did the stock market behaved in this way; the factor may be many. One has to develop a bird’s view over the stock market and analyze every factor with tools and technique so that he/she may not go wrong in the investment decision. __________________________________________________ __________ BABASAB PATIL 1

description

Technical analysis of equity shares project report

Transcript of Technical analysis of equity shares project report

Page 1: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

EXECUTIVE SUMMARY

India is second fastest growing major economy in the world, with a GDP

growth rate of 9.4%. It has emerged as the world's fastest growing wealth

creator, thanks to a buoyant stock market and higher earnings

The name “stock market” which when comes into the mind, everyone

has different opinion. One feels it is risky to invest in stock market, others may

perceive that it is game of gambling. Many of the investors may feel its great

opportunity to make profit in the stock market. The opinion differs from

person to person, investor to investors.

But the recent trend in the stock regarding its volatility which leads

to the depression and also losses for many investors. If when the investors ask

him self about why did the stock market behaved in this way; the factor may

be many. One has to develop a bird’s view over the stock market and analyze

every factor with tools and technique so that he/she may not go wrong in the

investment decision.

One of the tools may be technical analysis which helps to study the

market action, primarily through the use of charts, for the purpose of

forecasting future price trends. The movement of the scrip price and its

behavior can be explained in a more illustrative form by using the technical

analysis. It provides better insight and also to take decision on the investment.

It considers only the actual price behavior of the market or instrument.

The project deals with a brief introduction to stock market &

technical analysis how to invest in stock market as the investors are more

concerned of return and they want to be far from risk, technical analysis is

very helpful in deciding as when to buy & sell a particular stock.

The core area of this project focuses on technical analysis of equity

scripts which tells an investor when to buy & sell a share. This project

____________________________________________________________ BABASAB PATIL 1

Page 2: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

contains secondary data & calculations with charts which help in drawing

inferences.

The major concurrent project was carried out in “IL & FS

INVESTSMART SECURITIES LTD”, set up in October 1997 & began its

retail operations on September 1998 which is one of the leading service

brokerage houses in the country.

TITLE OF THE PROJECT:

“TECHNICAL ANALYSIS OF EQUITY

SHARES”

OBJECTIVES :

To study future prices of Infosys, Wipro, HDFC Bank, ICICI Bank using

technical analysis.

SUB OBJECTIVES:

To determine the trend of the stock prices using technical analysis.

To analyze & predict future price movements of chosen equity shares.

To find out which equity share is preferable for the investors i.e., when

to buy & when to sell a particular stock.

METHODOLOGY :

Statistical Tools used

Simple Moving Average

Relative Strength Index

Rate of Change

Secondary Data includes

Market Price

Books

Internet Sources.

____________________________________________________________ BABASAB PATIL 2

Page 3: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

F INDINGS :

The share prices of a company are very sensitive and may change very

rapidly (upward or downward), but we follow a systematic study, it is

possible to predict the share prices to a certain extent.

The stocks move according to some patterns, we can predict the stock

prices by identifying such patterns.

HDFC BANK

As the 12 days & 24 days simple moving average of the

HDFC Bank represents the fall of prices that is downward

trend during August & January it signs for sell signal.

The chart shows rising trend from August to December.

Relative strength index shows a buy signal for the HDFC

Bank as it has crossed 30 & reached upto zero during May &

February.

It shows sell signal during September as it has reached upto

84 points.

The ROC graph indicates that the price of the scrip HDFC

Bank is moving towards the high in the over bought region.

The chart shows reverse head & shoulder during June.

ICICI BANK

As the 12 days & 24 days simple moving average of the

ICICI Bank is falling during July & January, short term

moving average intersects long term moving average from

above and falls below it, the sell signal is generated.

The scrip price is rising from September 5, the short term

average is above the long term average & intersects from

below indicating further rise in price, gives a buy signal

during September.

The RSI graph indicates it is the right time to purchase the

scripts of ICICI Bank, as it has crossed 30 points & reached

zero during April & March.

____________________________________________________________ BABASAB PATIL 3

Page 4: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

It indicates sell signal during November as it has reached

upto 98 points.

The ROC graph of the ICICI Bank scripts prices are in the

oversold region that is it is towards the lower price & right

time to buy.

The chart shows H & S during June & double bottom during

August.

INFOSYS

The moving average graph of the INFOSYS indicates a

gaining trend as the closing price line is above the moving

average line of 12 days and 26 days so it was right time to

sell the share.

The closing price of INFOSYS shows a flat trend from April

to August.

Reverse head & shoulder are formed during November.

The relative strength index of Infosys has crossed 30 points

and reached upto zero during November & January, shows it

was right time to sell & it reached upto 90 points during

December which gives buy signal.

ROC of INFOSYS is in overbought region during October,

December & March it was right time to sell.

WIPRO

The 12 days & 24 days simple moving average of the ICICI

Bank is falling during November, January & March short

term moving average intersects long term moving average

from above and falls below it, the sell signal was generated.

The chart shows declining trend from April to September &

even from December to March.

The Relative strength Index graph indicates that it is the right

time to purchase the scripts of WIPRO, as it has crossed 30

points during July, January & February.

____________________________________________________________ BABASAB PATIL 4

Page 5: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RSI of WIPRO shows sell signal during December which has

reached upto 84 points.

The Rate of Change chart of the WIPRO shows the script

prices are in the overbought region during March that is it is

towards the higher price & was right time to sell.

____________________________________________________________ BABASAB PATIL 5

Page 6: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RECOMMENDATIONS:

Investors should undertake an analysis before investing into the stock

market, as most of the investors do not undertake any study before

entering into a particular stock.

HDFC BANK

Considering technical analysis it is better to sell the shares of HDFC Bank at

this moment.

According to moving average the closing price is declining from

January i.ie. 1571 to 1331, the short term average intersects the long

term average from above & falls below it, the sell signal is generated.

The ROC lies in the overbought region which is declining from 16.90

to 4.61 in future it may decline so better to sell the shares.

The RSI of HDFC Bank lies between 70 & 50 which may decline in

future so I recommend investors to sell the shares.

ICICI BANK

The closing price of this script is declining from 11th January with

1430 to 769 in March; the short term average intersects the long term

average from above & falls below it, so in future I recommend the

investors to sell the shares.

The ROC lies in the overbought region which is declining from 9.82 to

0.16 in future it may decline so better to sell the shares.

The RSI of these scripts lies between 60 & 50 which may decline in

future so better to sell the shares.

INFOSYS

The moving average of Infosys is volatile in nature and it has

decreased from 1662 of February to 1439 of March, the short term

average intersects the long term average from above & falls below it,

the sell signal is generated.

The ROC lies in the overbought region which is declining from 15.72

to 7.16 in future it may decline so better to sell the shares.

____________________________________________________________ BABASAB PATIL 6

Page 7: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

The RSI of INFOSYS is declining from 60 to 43 which may decline

drastically in future so better to sell the shares.

WIPRO

The moving average of Wipro has decreased from 549 of January to

432 of March; the short term average intersects the long term average

from above & falls below it, so better to sell the shares.

The ROC lies in the overbought region which is declining from 26.22

to 14.19 in future it may decline so better to sell the shares.

The RSI of INFOSYS is declining from 70 to 58 which may decline

drastically in future so better to sell the shares.

LIMITATIONS:

For doing my project I have taken into consider only three parameters.

These parameters may not be enough to predict the future price

movements.

Time period given is of only two months, which may not suffice the

required tenure to study the stock market. The time period was very

short.

I have done the technical analysis only for one year; from this data we

cannot predict prices accurately.

CONCLUSION:

Remember that stocks are never too high for you to begin

buying or too low to begin selling. But after the initial

transaction don’t make a second unless the first shows you a

profit.

There is only one side to the stock market and it is not the

bull side or the bear side but the right side.

Always sell what shows you a loss and keep what shows you

profit.

Technical analysis can be used, when to buy and to when to

sell the stock.

It is very helpful in determining the trend of the stock price

____________________________________________________________ BABASAB PATIL 7

Page 8: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

CONTENTS

SECTION – I

Industry Profile 1

Company Profile 3

SECTION – II

About Technical Analysis 5

Brief Introduction of Companies 14

SECTION – III

Methodology 16

Calculations 20

Data Interpretation &Analysis 78

Findings 98

Recommendations 101

Limitations

Conclusions

Bibliography

____________________________________________________________ BABASAB PATIL 8

Page 9: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

INDUSTRY PROFILE

In finance a share is a unit of account for various financial instruments

including stocks, mutual funds, and limited partnerships. In British English,

the usage of the word share alone to refer solely to stocks is so common that it

almost replaces the word stock itself.

In simple Words, a share or stock is a document issued by a company,

which entitles its holder to be one of the owners of the company. A share is

issued by a company or can be purchased from the stock market.

By owning a share you can earn a portion and selling shares you get

capital gain. So, your return is the dividend plus the capital gain. However,

you also run a risk of making a capital loss if you have sold the share at a price

below your buying price.

Primary Market

Market for new issues of securities, as distinguished from the

Secondary Market, where previously issued securities are bought and sold.

A market is primary if the proceeds of sales go to the issuer of the securities

sold.

Secondary Market

The market where securities are traded after they are initially offered in

the primary market. Most trading is done in the secondary market. To explain

further, it is trading in previously issued financial instruments. An organized

market for used securities. Examples are the Bombay Stock Exchange (BSE),

National Stock Exchange NSE, bond markets, over-the-counter markets,

residential mortgage loans, governmental guaranteed loans etc.

Bull & Bear Market

There are two classic market types used to characterize the general

direction of the market. Bull markets are when the market is generally rising,

typically the result of a strong economy. A bull market is typified by generally

____________________________________________________________ BABASAB PATIL 9

Page 10: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

rising stock prices, high economic growth, and strong investor confidence in

the economy. Bear markets are the opposite. A bear market is typified by

falling stock prices, bad economic news, and low investor confidence in the

economy.

A bull market is a financial market where prices of instruments (e.g.,

stocks) are, on average, trending higher. The bull market tends to be

associated with rising investor confidence and expectations of further capital

gains.

A market in which prices are rising. A market participant who believes

prices will move higher is called a "bull". A news item is considered bullish if

it is expected to result in higher prices.

Simply put, bull markets are movements in the stock market in which

prices are rising and the consensus is that prices will continue moving upward.

During this time, economic production is high, jobs are plentiful and inflation

is low. Bear markets are the opposite--stock prices are falling, and the view is

that they will continue falling.

A key to successful investing during a bull market is to take advantage

of the rising prices. For most, this means buying securities early, watching

them rise in value and then selling them when they reach a high. However, as

simple as it sounds, this practice involves timing the market. Since no one

knows exactly when the market will begin its climb or reach its peak, virtually

no one can time the market perfectly.

The opposite of a bull market is a bear market when prices are falling in

a financial market for a prolonged period of time. A bear market tends to be

accompanied by widespread pessimism. A bear market is slang for when stock

prices have decreased for an extended period of time.  If an investor is

"bearish" they are referred to as a bear because they believe a particular

company, industry, sector, or market in general is going to go down.

____________________________________________________________ BABASAB PATIL 10

Page 11: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

COMPANY PROFILE

IL&FS INVESTSMART SECURITIES LTD (IIL) is an initiative in the

field of Financial Services started by Infrastructure Leasing & Financial

Services (IL&FS), an institution known for its innovative and pioneering

initiatives in the areas of Infrastructure, Corporate Finance and Investment

Banking. IIL was set up in October 1997 & began its retail operations on

September 1998.

IL&FS Investsmart Securities LTD (IIL) was set up with the objective

of becoming one of the leading full service brokerage houses in the country

with a strong expertise in web-based technology as well as strengths in

physical distribution. Today with a presence in more than 90 cities across

India through more than 200 outlets, IIL is chosen as The Best Performing

National Financial Advisor – Retail Segment at the CNBC TV 18 national

financial advisor award 2006.

Since its inception in the year 1997, the firm has grown to reach

immense heights. It has withstood all odds in the market and has emerged as a

true leader in the bargain. IIL is widely recognized as a trustworthy

organization and has been successful in satisfying its clients’ interests. A big

smile with great satisfaction on the faces of clients inspires us to work even

harder, not only to maintain the same but also to deliver the best services

forever. 

As mentioned earlier IIL which was promoted by IL&FS in 1997, has

come a long way since its inception. It is a matter of great pride for IIL that

some of the world's biggest organizations are becoming equity owners of the

company.

IL&FS Investsmart Securities LTD currently caters to more than

53,000 retail customers through 54 locations encompassing around 16 Indian

states. Our network involves 29 branches spread across 16 cities and

____________________________________________________________ BABASAB PATIL 11

Page 12: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

franchisees across the rest of the country. It is our endeavor to spread our

services to maximum number of Indian locations in the near future.

____________________________________________________________ BABASAB PATIL 12

Page 13: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

DIVISIONS

The Investment Advisory and Broking Division

Merchant Banking Division

The Project Syndication Division

Institutional Equity Broking Division

Institutional Debt Broking division

RETAIL OFFERINGS

Equities

Derivatives

Commodities

Depository Services

Portfolio Management

Distribution of Financial Products.

INSTITUTIONAL OFFERINGS

Merchant Banking

Product Syndication

Institutional Equity Broking and Sales

Institutional Debt Broking and Sales

MEASURES PLANNED TO SUSTAIN THE GROWTH ENGINE

Complete business restructuring

Increase Margin Portfolio book to Rs. 7.5 bn

Accelerate branch expansion through setup of mini branches

Strong focus on building new businesses : commodities, online

trading

____________________________________________________________ BABASAB PATIL 13

Page 14: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

Launch international operations in Singapore. Complete Dubai

approvals.

____________________________________________________________ BABASAB PATIL 14

Page 15: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

TECHNICAL ANALYSIS

Technical analysis is the examination of past price movements to the

forecast future price movements. Technical analysts are sometimes referred

to as chartists because they rely almost exclusively on charts for their

analysis. Analysts believe that the historical performance of stocks and

markets are indications of future performance.

Technical analysis is applicable to stocks, indices, commodities, futures or

any tradable instrument where the price is influenced by the forces of supply

and demand. Price refers to any combination of the open, high, low or close

for a given security over a specific timeframe. The time frame can be based

on intraday (tick, 5-minute, 15-minute or hourly), daily, weekly or monthly

price data and last a few hours or many years. In addition, some technical

analysts include volume or open interest figures with their study of price

action.

ASSUMPTIONS OF TECHNICAL ANALYSIS

Three key assumptions on which technical analysis is based are:-

The futures market discounts everything: - The technician believes that

the price at any given time is the intrinsic value based upon the fundamental

factors affecting the supply and demand of the product.

Prices move in trends - Prices can move in one of three directions up, down

or sideways. Once a trend in any of these directions is in effect, it usually

will persist. The market trend is simply the direction of market prices, a

concept which is absolutely essential to the success of technical analysis.

History repeats itself - Technical analysis includes thee psychology of the

market place. Patterns of human behaviors have been identified and

categorized for several hundred years and are found to be repetitive in

nature. The repetitive nature of the market place is illustrated by specific

chart patterns, from which one can forecast the next move for the prices.

____________________________________________________________ BABASAB PATIL 15

Page 16: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

CHART PATTERN

A chart pattern is a distinct formation on a stock chart that creates a trading

signal, or a sign of future price movements. Chartists use these patterns to

identify current trends and trend reversals and to trigger buy and sell signals.

There are two types of patterns within this area of technical

analysis, reversal and continuation. A reversal pattern signals that a prior

trend will reverse upon completion of the pattern. A continuation pattern, on

the other hand, signals that a trend will continue once the pattern is

complete. These patterns can be found over charts of any time frame.

HEAD AND SHOULDERS

This is one of the most popular and reliable chart patterns in technical

analysis. Head and shoulders is a reversal chart pattern that when formed,

signals that the security is likely to move against the previous trend. As you

can see in Figure 1, there are two versions of the head and shoulders chart

pattern. Head and shoulders top (shown on the left) is a chart pattern that is

formed at the high of an upward movement and signals that the upward trend

is about to end. Head and shoulders bottom, also known as inverse head and

shoulders (shown on the right) is the lesser known of the two, but is used to

signal a reversal in a downtrend.

____________________________________________________________ BABASAB PATIL 16

Page 17: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

Both of these head and shoulders patterns are similar in that there are four

main parts: two shoulders, a head and a neckline. Also, each individual head

____________________________________________________________ BABASAB PATIL 17

Page 18: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

and shoulder is comprised of a high and a low. For example, in the head and

shoulders top image shown on the left side in Figure 1, the left shoulder is

made up of a high followed by a low. In this pattern, the neckline is a level

of support or resistance. Remember that an upward trend is a period of

successive rising highs and rising lows. The head and shoulders chart

pattern, therefore, illustrates a weakening in a trend by showing the

deterioration in the successive movements of the highs and lows.

CHART TYPES

There are four main types of charts that are used by investors and traders

depending on the information that they are seeking and their individual skill

levels. The chart types are: the line chart, the bar chart, the candlestick chart

and the point and figure chart.

LINE CHART

The most basic of the four charts is the line chart because it represents

only the closing prices over a set period of time. The line is formed by

connecting the closing prices over the time frame. Line charts do not

provide visual information of the trading range for the individual points

such as the high, low and opening prices. However, the closing price is

often considered to be the most important price in stock data compared

to the high and low for the day and this is why it is the only value used

in line charts.

____________________________________________________________ BABASAB PATIL 18

Page 19: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

Figure 1: A line chart

BAR CHART

The bar chart expands on the line chart by adding several more key pieces of

information to each data point. The chart is made up of a series of vertical

lines that represent each data point. This vertical line represents the high and

low for the trading period, along with the closing price. The close and open

are represented on the vertical line by a horizontal dash.

Conversely, the close is represented by the dash on the right.

Generally, if the left dash (open) is lower than the right dash (close) then the

bar will be shaded black, representing an up period for the stock, which

means it has gained value. A bar that is colored red signals that the stock has

gone down in value over that period.

Figure 2: A bar chart

CANDLESTICK CHART

The candlestick chart is similar to a bar chart, but it differs in the way that it

is visually constructed. Similar to the bar chart, the candlestick also has a

thin vertical line showing the period's trading range. The difference comes in

the formation of a wide bar on the vertical line, which illustrates the

difference between the open and close.

____________________________________________________________ BABASAB PATIL 19

Page 20: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

And, like bar charts, candlesticks also rely heavily on the use of colors to

explain what has happened during the trading period. A major problem with

the candlestick color configuration, however, is that different sites use

different standards; therefore, it is important to understand the candlestick

configuration used at the chart site you are working with.

There are two color constructs for days up and one for days

that the price falls. When the price of the stock is up and closes above

the opening trade, the candlestick will usually be white or clear. If the

stock has traded down for the period, then the candlestick will usually

be red or black, depending on the site. If the stock's price has closed

above the previous day’s close but below the day's open, the candlestick

will be black or filled with the color that is used to indicate an up day.

Figure 3: A candlestick chart

POINT AND FOGURE CHART

The point and figure chart is not well known or used by the average investor

but it has had a long history of use dating back to the first technical traders.

This type of chart reflects price movements and is not as concerned about

time and volume in the formulation of the points. The point and figure chart

removes the noise, or insignificant price movements, in the stock, which can

____________________________________________________________ BABASAB PATIL 20

Page 21: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

distort traders' views of the price trends. These types of charts also try to

neutralize the skewing effect that time has on chart analysis.

Figure 4: A point and figure chart

When first looking at a point and figure chart, you will notice a series of Xs

and Os. The Xs represent upward price trends and the Os represent

downward price trends. There are also numbers and letters in the chart; these

represent months, and give investors an idea of the date. Each box on the

chart represents the price scale, which adjusts depending on the price of the

stock: the higher the stock's price the more each box represents.

CONCLUSION

Charts are one of the most fundamental aspects of technical analysis. It is

important that you clearly understand what is being shown on a chart and the

information that it provides.

____________________________________________________________ BABASAB PATIL 21

Page 22: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

STRENGTHS OF TECHNICAL ANALYSIS

Focus on Price: To predict the future price, technicians believe that one

should focus on price movements. Price movements usually precede

fundamental developments. By focusing on price action, technicians are

automatically focusing on the future. Even though the market is prone to

sudden knee-jerk reactions, hints usually develop before significant moves.

A technician will refer to periods of accumulation as evidence of an

impending advance and periods of distribution as evidence of an impending

decline.

Supply, Demand, and Price Action: Many technicians use the open, high,

low and close when analyzing the price action of a commodity. Separately,

these will not be able to tell much. However, taken together, the open, high,

low and close reflect forces of supply and demand.

Support/Resistance: Simple chart analysis can help identify support and

resistance levels. These are usually marked by periods of congestion (trading

range) where the prices move within a confined range for an extended

period, telling us that the forces of supply and demand are deadlocked.

When prices move out of the trading range, it signals that either supply or

demand has started to get the upper hand. If prices move above the upper

band of the trading range, then demand is winning. If prices move below the

lower band, then supply is winning

Pictorial Price History: A price chart can offer plenty of valuable

information. It is an easy to read historical account of a security's price

movement over a period of time. Charts are much easier to read than a table

of numbers. On most stock charts, volume bars are displayed at the bottom.

With this historical picture, it is easy to identify the following:

• Reactions prior to and after important events.

• Past and present volatility.

• Historical volume or trading levels. ____________________________________________________________ BABASAB PATIL 22

Page 23: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

• Relative strength of a stock versus the overall market

Assist with Entry Point: Technical analysis can help with timing a proper

entry point. Some analysts use fundamental analysis to decide what to buy

and technical analysis to decide when to buy. Technical analysis can help

spot demand (support) and supply (resistance) levels as well as breakouts.

Waiting for a breakout above resistance or buying near support levels can

improve returns.

WEAKNESS OF TECHNICAL ANALYSIS

Analyst Bias: Just as with fundamental analysis, technical analysis is

subjective and our personal biases can be reflected in the analysis. It is

important to be aware of these biases when analyzing a chart.

Open to Interpretation: Furthering the bias argument is the fact that

technical analysis is open to interpretation. Even though there are standards,

many times two technicians will look at the same chart and paint two

different scenarios or see different patterns. Both will be able to come up

with logical support and resistance levels as well as key breaks to justify

their position. While this can be frustrating, it should be pointed out that

technical analysis is more like an art than a science, somewhat like

economics.

Too Late: Technical analysis has been criticized for being too late. By the

time the trend is identified, a substantial portion of the move has already

taken place. After such a large move, the reward to risk ratio is not great.

Lateness is a particular criticism of Dow Theory.

Trader's Remorse: Not all technical signals and patterns work. When you

begin to study technical analysis, you will come across an array of patterns

and indicators with rules to match. For instance: A sell signal is given when

the neckline of a head and shoulders pattern is broken. Even though this is a

rule, it is not steadfast and can be subject to other factors such as volume and

____________________________________________________________ BABASAB PATIL 23

Page 24: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

momentum. In that same vein, what works for one particular commodity

may not work for another.

CRITICS OF TECHNICAL ANALYSIS SAY………………..

No one or group of trading rules seems to work consistently.

Some prices moves are self fulfilling because so many chartist trades on

breakouts–often are temporary.

Most of the trading rules require a great deal of subjective judgment.

When price volatility goes down technical profits may also fall.

Technical Analysis also happens to break one major jinx of fundamental

analysis as it gives an exact price target and answers many questions like,

• When to enter the market?

• Whether to buy or sell?

• If buy/ sell then at what prices?

• How much should be the profit objective?

• Where should one place a stop loss?

Owing to all the above mentioned factors it could safely be concluded that

Technical Analysis is one of the better tools for price forecasting. And in

today’s rapidly changing world investors look for short time returns which

could better be achieved only by a superior price forecasting system and in

this case using Technical Analysis.

____________________________________________________________ BABASAB PATIL 24

Page 25: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

INTRODUCTION OF SECTORS

IT INDUSTRY

The robust growth of India can be attributed to the meteoritic success of

‘India IT Industry’. In fact no other Indian industry has performed so well

against the global market. The vision of Information Technology (IT) policy

is to use IT as a tool for raising the living standards of the common man and

enriching their lives. Though, urban India has a high internet density, the

government also wants PC and Internet penetration in the rural India.

In Information technology (IT), India has built up valuable brand equity in

the global markets. In IT-enabled services (ITES), India has emerged as the

most preferred destination for business process outsourcing (BPO).

INFOSYS

Excellent results by Infosys Technologies had a positive impact on the entire

spectrum of IT stocks. Infosys Technologies Ltd provides consulting and IT

services to clients globally - as partners to conceptualize and realize

technology driven business transformation initiatives. With over 72,000

employees worldwide, they use a low-risk Global Delivery Model (GDM) to

accelerate schedules with a high degree of time and cost predictability.

WIPRO

Wipro Technologies is a global services provider delivering technology-

driven business solutions that meet the strategic objectives of our clients.

Wipro has 40+ ‘Centers of Excellence’ that create solutions around specific

needs of industries. Wipro delivers unmatched business value to customers

through a combination of process excellence, quality frameworks and

service delivery innovation. Wipro has had a Cumulative Annual Growth

Rate (CAGR) of 25% over the last fifteen years, exhibiting stability,

profitability and growth right from inception. Strong fundamentals like

quality, integrity, and supreme customer service have been the drivers of the

company's growth.

____________________________________________________________ BABASAB PATIL 25

Page 26: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

BANKING INDUSTRY

With the Indian economy moving on to a high growth trajectory,

consumption levels soaring and investment riding high, the Indian banking

sector is at a watershed. Further, as Indian companies globalize and people

of Indian origin increase their investment in India, several Indian banks are

pursuing global strategies.

HDFC BANK

HDFC Bank began operations in 1995 with a simple mission: to be a "World-

class Indian Bank". They realized that only a single-minded focus on product

quality and service excellence would help us get there. Today, they are proud

to say that they are well on their way towards that goal.

The Bank has posted a net profit of Rs 4711.10 million for the

quarter ended March 31, 2008 as compared to Rs 3435.70 million for the

quarter ended March 31, 2007. Total Income has increased from Rs

23209.70 million for the quarter ended March 31, 2007 to Rs 35055.20

million for the quarter ended March 31, 2008.

ICICI BANK

ICICI Bank is India's second-largest bank with total assets of Rs. 3,767.00

billion at December 31, 2007 and profit after tax of Rs. 30.08 billion for the

nine months ended December 31, 2007. ICICI Bank is second amongst all

the companies listed on the Indian stock exchanges in terms of free float

market capitalization.

ICICI Bank's equity shares are listed in India on Bombay Stock

Exchange and the National Stock Exchange of India Limited and its American

Depositary Receipts (ADRs) are listed on the New York Stock Exchange

(NYSE).

____________________________________________________________ BABASAB PATIL 26

Page 27: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

METHODOLOGY:

Data Collection Method

To carry out this project secondary data is collected which is the closing

market price.

Statistical Tools used:

Simple Moving Average

Relative Strength Index

Rate of Change.

SIMPLE MOVING AVERAGE

The market indices do not rise or fall in straight line. The upward and

downward are interrupted by counter moves. The underlying trend can be

studied by smoothening of the data. To smooth the data moving average

technique is used.

The word moving means that the body of data moves ahead to include

the recent observation. If it is five day moving average, on the sixth day the

body of data moves to include the sixth day observation eliminating the first

day’s observation. Likewise it continues. In the moving average calculation,

closing price of the stock is used.

TYPES OF MOVING AVERAGE

There are a number of different types of moving averages that vary in the

way they are calculated, but how each average is interpreted remains the

same. The calculations only differ in regards to the weighting that they place

on the price data, shifting from equal weighting of each price point to more

weight being placed on recent data. The three most common types of

moving averages are simple, linear and exponential.

In this study Simple moving average is used. A simple moving

average is formed by computing the average (mean) price of a security over

a specified number of periods. While it is possible to create moving averages

____________________________________________________________ BABASAB PATIL 27

Page 28: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

from the Open, the High, and the Low data points, most moving average are

created using the closing price. For example: a 5-day simple moving average

is calculated by adding the closing prices for the last 5 days and dividing the

total by 5.

10 + 11 + 12 + 13 + 14 = 60

(60 / 5) = 12

The calculation is repeated for each price bar on the chart. The averages are

then joined to form a smooth curving line - the moving average line.

Continuing our example, if the next closing price in the average is 15, then

this new period would be added and the oldest day, which is 10, would be

dropped. The new 5-day simple moving average would be calculated as

follows:

11 + 12 + 13 + 14 + 15 = 65

(65 / 5) = 13

Over the last 2 days, the SMA moved from 12 to 13. As new days are added,

the old days will be subtracted and the moving average will continue to

move over time.

STOCK PRICE AND STOCK PRICES MOVING AVERAGE

Buy and sell signals are provided by the moving averages. Moving averages

are used along with the price of the scrip. The stock price may intersect the

moving average at a particular point. Downward penetration of the rising

average indicates the possibility of a further fall. Upward penetration of a

falling average would indicate the possibility of the further rise and gives the

buy signal.

COMPARISON OF THE TWO MOVING AVERAGES

When long term and short term moving averages are drawn, the intersection

of two moving averages generates buy or sell signal. When the scrip price is

____________________________________________________________ BABASAB PATIL 28

Page 29: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

falling and if the short term average intersects the long term moving average

from above and falls below it, the sell signal is generated.

If the scrip price is rising, the short term average would be above the

long term average. The short term average intersects the long term average

from below indicating a further rise in price, gives a buy signal.

OSCILLATORS

Oscillators indicate the market momentum or scrip momentum. Oscillator

shows the share price movement across a reference point from one extreme

to another. The momentum indicates:

Overbought and oversold conditions of the scrip or the market.

Signaling the possible trend reversal.

Rise or decline in the momentum.

Oscillators are analyzed along with the price chart. Oscillators indicate trend

reversals that have to be confirmed with the price movement of the scrip.

Changes in the price should be correlated to changes in the momentum, and

then only buy and sell signals can be generated. With the daily, weekly or

monthly closing prices oscillators are built. For short term trading, daily

price oscillators are useful.

RELATIVE STRENGTH INDEX RSI is an oscillator used to identify the inherent technical strength and

weakness of a particular scrip or market. RSI can be calculated for scrip by

adopting the following formula.

RSI = 100 - 100

1 + RS

RS = Average Gain Per Day

Average Loss Per Day

The RSI can be calculated for any number of days depending on the wish of

the technical analyst and the time frame of trading adopted in a particular

____________________________________________________________ BABASAB PATIL 29

Page 30: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

stock market. RSI is calculated for 5, 7, 9 and 14 days. If the period taken

for calculation is more, the possibility of getting wrong signals is reduced.

The broad rule is, if the RSI crosses seventy there may be

downturn and it is time to sell. If the RSI falls below thirty it is time to pick

up the script. If the RSI is rising in the overbought zone, it would indicate

the downfall of the price. If RSI falls in the overbought zone, it gives a clear

signal of sell. This condition occurs after a sharp rise in price during a period

of heavy buying. When the RSI is in the oversold region, it generates the

buy signal. The term oversold is used to describe a security or market that

has declined to an unreasonably low level.

RATE OF CHANGE

ROC measures the rate of change between the current price and the price ‘n’

number of days in the past. ROC helps to find out the overbought and

oversold positions in scrip. Closing prices are used to calculate the ROC.

Daily closing prices are used for the daily ROC and weekly closing prices

for weekly ROC. In this study I have used weekly closing prices for

calculation.

The Rate of Change (ROC) indicator is a very simple yet effective

momentum oscillator that measures the percent change in price from one

period to the next. The (ROC) calculation compares the current price with

the price n periods ago.

ROC = ((Today’s close – Close n periods ago) / (Close n periods ago)) *

100

The main advantage of ROC is the identification of overbought and oversold

region. The historic high and low values of the ROC should be identified at

first to locate the overbought and oversold region. If the scrip’s ROC reaches

the historic high values, the scrip is in the overbought region. If the scrip’s

ROC reaches the historic low value, the scrip is in the oversold region.

____________________________________________________________ BABASAB PATIL 30

Page 31: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

CALCULATIONS

TECHNICAL ANALYSIS OF HDFC BANK

HDFC BANK 12 DAYS & 24 DAYS MOVING AVERAGE

HDFCBANKClosing Price

12 Days

24 Days

2-Apr-07 901.35    3-Apr-07 914.2    4-Apr-07 925.05    5-Apr-07 942.6    9-Apr-07 971.15    10-Apr-07 991.95    11-Apr-07 979.35    12-Apr-07 958.35    13-Apr-07 981.2    16-Apr-07 974.95    17-Apr-07 978.05    18-Apr-07 980.4 958.22  19-Apr-07 982.45 964.98  20-Apr-07 994.6 971.68  23-Apr-07 986.8 976.82  24-Apr-07 1013.75 982.75  25-Apr-07 1031 987.74  26-Apr-07 1034.45 991.28  27-Apr-07 1014.6 994.22  30-Apr-07 1024.15 999.70  3-May-07 1004.6 1001.65  4-May-07 1007.75 1004.38  7-May-07 1000.05 1006.22  8-May-07 991.3 1007.13 982.679-May-07 994.7 1008.15 986.5610-May-07 1011.8 1009.58 990.6311-May-07 992.6 1010.06 993.4414-May-07 995.9 1008.58 995.6615-May-07 1011.05 1006.91 997.3316-May-07 1035.45 1007.00 999.1417-May-07 1042.05 1009.28 1001.7518-May-07 1070.3 1013.13 1006.4121-May-07 1106.8 1021.65 1011.6522-May-07 1115.1 1030.59 1017.4923-May-07 1114.65 1040.14 1023.1824-May-07 1091.15 1048.46 1027.7925-May-07 1069.2 1054.67 1031.4128-May-07 1127.15 1064.28 1036.9329-May-07 1144.4 1076.93 1043.5030-May-07 1104.05 1085.95 1047.2631-May-07 1147.6 1097.33 1052.121-Jun-07 1153.45 1107.16 1057.084-Jun-07 1168.4 1117.69 1063.495-Jun-07 1159.6 1125.13 1069.136-Jun-07 1127.2 1126.83 1074.247-Jun-07 1105.55 1126.03 1078.318-Jun-07 1090.95 1124.06 1082.10

____________________________________________________________ BABASAB PATIL 31

Page 32: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

11-Jun-07 1097.35 1124.58 1086.5212-Jun-07 1088.15 1126.15 1090.4113-Jun-07 1082.9 1122.47 1093.3814-Jun-07 1096.4 1118.47 1097.7015-Jun-07 1110.35 1118.99 1102.4718-Jun-07 1088.45 1114.06 1105.6919-Jun-07 1099.95 1109.60 1108.3820-Jun-07 1100.05 1103.91 1110.8021-Jun-07 1101.8 1099.09 1112.1122-Jun-07 1103 1097.08 1111.9525-Jun-07 1099.8 1096.60 1111.3126-Jun-07 1098.7 1097.24 1110.6527-Jun-07 1090.35 1096.66 1110.6228-Jun-07 1097.3 1097.42 1111.7929-Jun-07 1146.75 1102.74 1112.602-Jul-07 1147.55 1107.00 1112.743-Jul-07 1150.5 1110.35 1114.674-Jul-07 1150.75 1115.54 1114.805-Jul-07 1129.1 1117.97 1113.796-Jul-07 1158.3 1122.83 1113.379-Jul-07 1167.6 1128.31 1113.7010-Jul-07 1149.3 1132.17 1114.6211-Jul-07 1148.75 1136.25 1116.4212-Jul-07 1201.45 1144.81 1121.0313-Jul-07 1226.4 1156.15 1126.4016-Jul-07 1217.65 1166.18 1131.8017-Jul-07 1199.3 1170.55 1136.6518-Jul-07 1200.05 1174.93 1140.9719-Jul-07 1209.25 1179.83 1145.0920-Jul-07 1200.9 1184.00 1149.7723-Jul-07 1230.3 1192.44 1155.2024-Jul-07 1248.9 1199.99 1161.4125-Jul-07 1239.05 1205.94 1167.1326-Jul-07 1217.25 1211.60 1171.8927-Jul-07 1169.35 1213.32 1174.7830-Jul-07 1168.85 1210.60 1177.7131-Jul-07 1200.6 1208.45 1182.301-Aug-07 1161.35 1203.76 1184.972-Aug-07 1152.4 1199.85 1185.203-Aug-07 1155 1196.10 1185.516-Aug-07 1132.5 1189.70 1184.767-Aug-07 1141.4 1184.75 1184.388-Aug-07 1171.75 1179.87 1186.159-Aug-07 1155.65 1172.10 1186.0410-Aug-07 1130.5 1163.05 1184.5013-Aug-07 1135.65 1156.25 1183.9314-Aug-07 1147.65 1154.44 1183.8816-Aug-07 1094 1148.20 1179.4017-Aug-07 1068.1 1137.16 1172.8120-Aug-07 1110.9 1132.96 1168.3621-Aug-07 1103.95 1128.92 1164.3922-Aug-07 1117.4 1125.79 1160.9423-Aug-07 1100.15 1123.09 1156.4024-Aug-07 1097.7 1119.45 1152.10

____________________________________________________________ BABASAB PATIL 32

Page 33: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

27-Aug-07 1119.6 1115.10 1147.4928-Aug-07 1150.6 1114.68 1143.3929-Aug-07 1162.55 1117.35 1140.2030-Aug-07 1180.6 1121.10 1138.6831-Aug-07 1171.7 1123.10 1138.773-Sep-07 1176.4 1129.97 1139.094-Sep-07 1176.45 1139.00 1138.085-Sep-07 1172.45 1144.13 1138.546-Sep-07 1184.6 1150.85 1139.897-Sep-07 1196.55 1157.45 1141.6210-Sep-07 1196.1 1165.44 1144.2711-Sep-07 1187.8 1172.95 1146.2012-Sep-07 1182.15 1178.16 1146.6313-Sep-07 1213.5 1183.40 1149.0414-Sep-07 1232.7 1189.25 1153.3017-Sep-07 1226.15 1193.05 1157.0718-Sep-07 1231.15 1198.00 1160.5519-Sep-07 1324.3 1210.33 1170.1520-Sep-07 1326.2 1222.80 1180.9021-Sep-07 1318.45 1234.97 1189.5524-Sep-07 1346.5 1248.46 1199.6625-Sep-07 1396.35 1265.11 1211.2826-Sep-07 1375.7 1280.08 1222.7627-Sep-07 1433 1300.51 1236.7328-Sep-07 1435.6 1321.63 1249.901-Oct-07 1411.65 1338.15 1260.783-Oct-07 1424.8 1354.15 1271.704-Oct-07 1409.7 1369.45 1281.255-Oct-07 1403.15 1383.78 1290.898-Oct-07 1407.35 1390.70 1300.519-Oct-07 1421.15 1398.62 1310.7110-Oct-07 1416.95 1406.83 1320.9011-Oct-07 1460.7 1416.34 1332.4012-Oct-07 1432.7 1419.37 1342.2415-Oct-07 1499.2 1429.66 1354.8716-Oct-07 1507.75 1435.89 1368.2017-Oct-07 1462.75 1438.15 1379.8918-Oct-07 1388.2 1436.20 1387.1719-Oct-07 1366.35 1431.33 1392.7422-Oct-07 1371.9 1428.18 1398.8123-Oct-07 1488.2 1435.27 1409.5324-Oct-07 1513.95 1444.15 1417.4325-Oct-07 1554 1455.22 1426.9226-Oct-07 1546.5 1466.02 1436.4229-Oct-07 1646.95 1481.54 1448.9430-Oct-07 1620.55 1497.19 1458.2831-Oct-07 1653.4 1510.04 1469.851-Nov-07 1690.2 1525.25 1480.572-Nov-07 1770.5 1550.89 1494.525-Nov-07 1716.05 1578.21 1507.216-Nov-07 1708.2 1606.70 1519.017-Nov-07 1616.85 1627.11 1527.658-Nov-07 1555.35 1632.71 1533.999-Nov-07 1536.25 1634.57 1539.36

____________________________________________________________ BABASAB PATIL 33

Page 34: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

12-Nov-07 1477.35 1628.18 1541.7013-Nov-07 1574.2 1630.49 1548.2514-Nov-07 1752.3 1639.27 1560.4015-Nov-07 1700.45 1645.93 1571.5616-Nov-07 1687.1 1648.73 1579.3919-Nov-07 1654.55 1645.76 1585.5020-Nov-07 1630.3 1634.08 1592.4921-Nov-07 1580.9 1622.82 1600.5122-Nov-07 1591.7 1613.11 1609.9023-Nov-07 1562.7 1608.60 1617.8526-Nov-07 1643.35 1615.93 1624.3227-Nov-07 1632.65 1623.96 1629.2628-Nov-07 1606.35 1634.71 1631.4529-Nov-07 1674.4 1643.06 1636.7830-Nov-07 1716.15 1640.05 1639.663-Dec-07 1696.1 1639.69 1642.814-Dec-07 1701.65 1640.90 1644.825-Dec-07 1723.8 1646.67 1646.226-Dec-07 1689.95 1651.64 1642.867-Dec-07 1719.8 1663.22 1643.0210-Dec-07 1687.95 1671.24 1642.1711-Dec-07 1780.55 1689.39 1648.9912-Dec-07 1784.05 1701.12 1658.5213-Dec-07 1756.35 1711.43 1667.6914-Dec-07 1724.45 1721.27 1677.9917-Dec-07 1683.55 1722.03 1682.5518-Dec-07 1661.75 1717.50 1678.7719-Dec-07 1653.05 1713.91 1676.8020-Dec-07 1642.7 1709.00 1674.9524-Dec-07 1698.15 1706.86 1676.7626-Dec-07 1706.75 1708.26 1679.9527-Dec-07 1745.5 1710.40 1686.8128-Dec-07 1730.3 1713.93 1692.5831-Dec-07 1729.1 1709.64 1699.521-Jan-08 1729.5 1705.10 1703.112-Jan-08 1715.3 1701.68 1706.553-Jan-08 1694.4 1699.17 1710.224-Jan-08 1696.4 1700.24 1711.147-Jan-08 1655.4 1699.71 1708.608-Jan-08 1715.75 1704.94 1709.429-Jan-08 1744.6 1713.43 1711.2110-Jan-08 1722 1715.42 1711.1411-Jan-08 1764.55 1720.23 1714.2514-Jan-08 1783.15 1723.37 1716.8915-Jan-08 1788.95 1728.26 1721.0916-Jan-08 1673.75 1723.65 1716.6417-Jan-08 1643.6 1716.49 1710.7918-Jan-08 1571 1704.46 1703.0721-Jan-08 1507.1 1688.85 1694.0122-Jan-08 1426.4 1666.35 1683.3023-Jan-08 1534.3 1656.26 1677.9924-Jan-08 1510.4 1639.15 1672.0425-Jan-08 1608.45 1627.80 1670.6228-Jan-08 1590.2 1616.82 1666.12

____________________________________________________________ BABASAB PATIL 34

Page 35: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

29-Jan-08 1537.35 1597.89 1659.0630-Jan-08 1532.95 1577.04 1650.2031-Jan-08 1569.55 1558.75 1643.511-Feb-08 1571 1550.19 1636.924-Feb-08 1547.4 1542.18 1629.335-Feb-08 1512.25 1537.28 1620.876-Feb-08 1500.1 1536.70 1612.787-Feb-08 1491.8 1542.15 1604.258-Feb-08 1441.95 1534.45 1595.3611-Feb-08 1410.75 1526.15 1582.6512-Feb-08 1407.65 1509.41 1568.6113-Feb-08 1468.5 1499.27 1558.0514-Feb-08 1536.45 1499.20 1548.5415-Feb-08 1562.25 1501.64 1539.3418-Feb-08 1556.85 1500.58 1529.6719-Feb-08 1571.9 1500.65 1525.4220-Feb-08 1537.2 1499.80 1520.9921-Feb-08 1540.85 1502.19 1519.7322-Feb-08 1474.3 1500.04 1518.3725-Feb-08 1421.75 1494.20 1518.1726-Feb-08 1454.9 1495.28 1514.8627-Feb-08 1452.3 1498.74 1512.4428-Feb-08 1472.55 1504.15 1506.7829-Feb-08 1456.75 1503.17 1501.223-Mar-08 1389.9 1490.96 1495.084-Mar-08 1351.75 1473.42 1487.535-Mar-08 1332.75 1454.74 1477.667-Mar-08 1282.25 1430.60 1465.6310-Mar-08 1311.5 1411.80 1455.8011-Mar-08 1333.2 1394.49 1448.3412-Mar-08 1370.55 1385.85 1442.9413-Mar-08 1299.15 1375.63 1434.9114-Mar-08 1315.45 1364.01 1429.6417-Mar-08 1226 1345.15 1421.9518-Mar-08 1230.95 1325.02 1414.5819-Mar-08 1272.6 1309.67 1406.4224-Mar-08 1341.9 1305.67 1398.3125-Mar-08 1414 1310.86 1392.1426-Mar-08 1439.2 1319.73 1387.2427-Mar-08 1433.2 1332.31 1381.4628-Mar-08 1407 1340.27 1376.0331-Mar-08 1331.25 1340.10 1367.30

____________________________________________________________ BABASAB PATIL 35

Page 36: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF HDFC BANK (OF 7

DAYS)

HDFCBANK

Closing Price Gain Loss

Average Gain

Average Loss RS RSI

2-Apr-07 901.35            3-Apr-07 914.2 12.85          4-Apr-07 925.05 10.85          5-Apr-07 942.6 17.55          9-Apr-07 971.15 28.55          10-Apr-07 991.95 20.8          11-Apr-07 979.35   12.6 18.12 12.60 1.44 58.9812-Apr-07 958.35   21 18.12 16.80 1.08 51.8913-Apr-07 981.2 22.85   20.12 16.80 1.20 54.5016-Apr-07 974.95   6.25 22.44 13.28 1.69 62.8117-Apr-07 978.05 3.1   18.83 13.28 1.42 58.6318-Apr-07 980.4 2.35   12.28 13.28 0.92 48.0319-Apr-07 982.45 2.05   7.59 13.28 0.57 36.3520-Apr-07 994.6 12.15   8.50 13.63 0.62 38.4223-Apr-07 986.8   7.8 8.50 7.03 1.21 54.7524-Apr-07 1013.75 26.95   9.32 7.03 1.33 57.0225-Apr-07 1031 17.25   10.64 7.80 1.36 57.7026-Apr-07 1034.45 3.45   10.70 7.80 1.37 57.8427-Apr-07 1014.6   19.85 12.37 13.83 0.89 47.2230-Apr-07 1024.15 9.55   13.87 13.83 1.00 50.083-May-07 1004.6   19.55 14.30 15.73 0.91 47.614-May-07 1007.75 3.15   12.07 19.70 0.61 37.997-May-07 1000.05   7.7 8.35 15.70 0.53 34.728-May-07 991.3   8.75 5.38 13.96 0.39 27.839-May-07 994.7 3.4   5.37 13.96 0.38 27.7610-May-07 1011.8 17.1   8.30 12.00 0.69 40.8911-May-07 992.6   19.2 7.88 13.80 0.57 36.3614-May-07 995.9 3.3   6.74 11.88 0.57 36.1815-May-07 1011.05 15.15   9.74 11.88 0.82 45.0416-May-07 1035.45 24.4   12.67 13.98 0.91 47.5517-May-07 1042.05 6.6   11.66 19.20 0.61 37.7818-May-07 1070.3 28.25   15.80 19.20 0.82 45.1421-May-07 1106.8 36.5   19.03 19.20 0.99 49.7822-May-07 1115.1 8.3   17.50 0.00 0.00 0.00

23-May-07 1114.65   0.45 19.87 0.4544.15 97.79

24-May-07 1091.15   23.5 20.81 11.97 1.74 63.4725-May-07 1069.2   21.95 19.91 15.30 1.30 56.5528-May-07 1127.15 57.95   32.75 15.30 2.14 68.1629-May-07 1144.4 17.25   30.00 15.30 1.96 66.2330-May-07 1104.05   40.35 27.83 21.56 1.29 56.3531-May-07 1147.6 43.55   39.58 21.56 1.84 64.741-Jun-07 1153.45 5.85   31.15 28.60 1.09 52.134-Jun-07 1168.4 14.95   27.91 31.15 0.90 47.265-Jun-07 1159.6   8.8 27.91 24.58 1.14 53.186-Jun-07 1127.2   32.4 20.40 27.18 0.75 42.877-Jun-07 1105.55   21.65 21.45 25.80 0.83 45.408-Jun-07 1090.95   14.6 21.45 19.36 1.11 52.5611-Jun-07 1097.35 6.4   9.07 19.36 0.47 31.89

____________________________________________________________ BABASAB PATIL 36

Page 37: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

12-Jun-07 1088.15   9.2 10.68 17.33 0.62 38.1213-Jun-07 1082.9   5.25 6.40 15.32 0.42 29.4714-Jun-07 1096.4 13.5   9.95 16.62 0.60 37.4515-Jun-07 1110.35 13.95   11.28 12.68 0.89 47.1018-Jun-07 1088.45   21.9 11.28 12.74 0.89 46.9719-Jun-07 1099.95 11.5   11.34 12.12 0.94 48.3420-Jun-07 1100.05 0.1   9.76 12.12 0.81 44.6221-Jun-07 1101.8 1.75   8.16 13.57 0.60 37.5422-Jun-07 1103 1.2   7.00 21.90 0.32 24.2225-Jun-07 1099.8   3.2 5.70 12.55 0.45 31.2326-Jun-07 1098.7   1.1 3.64 8.73 0.42 29.4027-Jun-07 1090.35   8.35 3.64 4.22 0.86 46.3128-Jun-07 1097.3 6.95   2.50 4.22 0.59 37.2229-Jun-07 1146.75 49.45   14.84 4.22 3.52 77.872-Jul-07 1147.55 0.8   14.60 4.22 3.46 77.593-Jul-07 1150.5 2.95   15.04 4.22 3.57 78.104-Jul-07 1150.75 0.25   12.08 4.73 2.56 71.885-Jul-07 1129.1   21.65 12.08 15.00 0.81 44.616-Jul-07 1158.3 29.2   14.93 21.65 0.69 40.829-Jul-07 1167.6 9.3   15.33 21.65 0.71 41.4510-Jul-07 1149.3   18.3 8.50 19.98 0.43 29.8511-Jul-07 1148.75   0.55 10.43 13.50 0.77 43.5712-Jul-07 1201.45 52.7   22.86 13.50 1.69 62.8713-Jul-07 1226.4 24.95   29.04 13.50 2.15 68.2616-Jul-07 1217.65   8.75 29.04 9.20 3.16 75.9417-Jul-07 1199.3   18.35 28.98 11.49 2.52 71.6218-Jul-07 1200.05 0.75   26.13 11.49 2.27 69.4719-Jul-07 1209.25 9.2   21.90 9.22 2.38 70.3820-Jul-07 1200.9   8.35 21.90 11.82 1.85 64.9523-Jul-07 1230.3 29.4   16.08 11.82 1.36 57.6324-Jul-07 1248.9 18.6   14.49 11.82 1.23 55.0825-Jul-07 1239.05   9.85 14.49 12.18 1.19 54.3226-Jul-07 1217.25   21.8 14.49 13.33 1.09 52.0727-Jul-07 1169.35   47.9 19.07 21.98 0.87 46.4630-Jul-07 1168.85   0.5 24.00 17.68 1.36 57.5831-Jul-07 1200.6 31.75   26.58 20.01 1.33 57.051-Aug-07 1161.35   39.25 25.18 23.86 1.06 51.342-Aug-07 1152.4   8.95 31.75 21.38 1.49 59.763-Aug-07 1155 2.6   17.18 23.68 0.73 42.046-Aug-07 1132.5   22.5 17.18 23.82 0.72 41.907-Aug-07 1141.4 8.9   14.42 17.80 0.81 44.758-Aug-07 1171.75 30.35   18.40 23.57 0.78 43.849-Aug-07 1155.65   16.1 13.95 21.70 0.64 39.1310-Aug-07 1130.5   25.15 13.95 18.18 0.77 43.4213-Aug-07 1135.65 5.15   11.75 21.25 0.55 35.6114-Aug-07 1147.65 12   14.10 21.25 0.66 39.8916-Aug-07 1094   53.65 14.10 31.63 0.45 30.8317-Aug-07 1068.1   25.9 15.83 30.20 0.52 34.4020-Aug-07 1110.9 42.8   19.98 30.20 0.66 39.8221-Aug-07 1103.95   6.95 19.98 27.91 0.72 41.7222-Aug-07 1117.4 13.45   18.35 28.83 0.64 38.8923-Aug-07 1100.15   17.25 22.75 25.94 0.88 46.7324-Aug-07 1097.7   2.45 28.13 21.24 1.32 56.9727-Aug-07 1119.6 21.9   26.05 13.14 1.98 66.48

____________________________________________________________ BABASAB PATIL 37

Page 38: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

28-Aug-07 1150.6 31   27.29 8.88 3.07 75.4429-Aug-07 1162.55 11.95   19.58 8.88 2.20 68.7830-Aug-07 1180.6 18.05   19.27 9.85 1.96 66.1731-Aug-07 1171.7   8.9 20.73 9.53 2.17 68.493-Sep-07 1176.4 4.7   17.52 5.67 3.09 75.534-Sep-07 1176.45 0.05   14.61 8.90 1.64 62.145-Sep-07 1172.45   4 13.15 6.45 2.04 67.096-Sep-07 1184.6 12.15   9.38 6.45 1.45 59.257-Sep-07 1196.55 11.95   9.38 6.45 1.45 59.2510-Sep-07 1196.1   0.45 7.21 4.45 1.62 61.8411-Sep-07 1187.8   8.3 7.21 4.25 1.70 62.9212-Sep-07 1182.15   5.65 8.05 4.60 1.75 63.6413-Sep-07 1213.5 31.35   18.48 4.60 4.02 80.0714-Sep-07 1232.7 19.2   18.66 4.80 3.89 79.5417-Sep-07 1226.15   6.55 20.83 5.24 3.98 79.9118-Sep-07 1231.15 5   18.52 5.24 3.54 77.9519-Sep-07 1324.3 93.15   37.18 6.83 5.44 84.4720-Sep-07 1326.2 1.9   30.12 6.10 4.94 83.1621-Sep-07 1318.45   7.75 30.12 7.15 4.21 80.8224-Sep-07 1346.5 28.05   29.46 7.15 4.12 80.4725-Sep-07 1396.35 49.85   35.59 7.15 4.98 83.2726-Sep-07 1375.7   20.65 35.59 14.20 2.51 71.4827-Sep-07 1433 57.3   46.05 14.20 3.24 76.4328-Sep-07 1435.6 2.6   27.94 14.20 1.97 66.301-Oct-07 1411.65   23.95 34.45 17.45 1.97 66.383-Oct-07 1424.8 13.15   30.19 22.30 1.35 57.524-Oct-07 1409.7   15.1 30.72 19.90 1.54 60.695-Oct-07 1403.15   6.55 24.35 16.56 1.47 59.528-Oct-07 1407.35 4.2   19.31 15.20 1.27 55.969-Oct-07 1421.15 13.8   8.44 15.20 0.56 35.7010-Oct-07 1416.95   4.2 10.38 12.45 0.83 45.4711-Oct-07 1460.7 43.75   18.73 8.62 2.17 68.4912-Oct-07 1432.7   28 20.58 13.46 1.53 60.4615-Oct-07 1499.2 66.5   32.06 12.92 2.48 71.2816-Oct-07 1507.75 8.55   27.36 16.10 1.70 62.9517-Oct-07 1462.75   45 33.15 25.73 1.29 56.3018-Oct-07 1388.2   74.55 39.60 37.94 1.04 51.0719-Oct-07 1366.35   21.85 39.60 42.35 0.94 48.3222-Oct-07 1371.9 5.55   26.87 42.35 0.63 38.8223-Oct-07 1488.2 116.3   49.23 47.13 1.04 51.0924-Oct-07 1513.95 25.75   39.04 47.13 0.83 45.3025-Oct-07 1554 40.05   46.91 47.13 1.00 49.8826-Oct-07 1546.5   7.5 46.91 34.63 1.35 57.5329-Oct-07 1646.95 100.45   57.62 14.68 3.93 79.7030-Oct-07 1620.55   26.4 57.62 16.95 3.40 77.2731-Oct-07 1653.4 32.85   63.08 16.95 3.72 78.821-Nov-07 1690.2 36.8   47.18 16.95 2.78 73.572-Nov-07 1770.5 80.3   58.09 16.95 3.43 77.415-Nov-07 1716.05   54.45 62.60 29.45 2.13 68.016-Nov-07 1708.2   7.85 62.60 29.57 2.12 67.927-Nov-07 1616.85   91.35 49.98 45.01 1.11 52.628-Nov-07 1555.35   61.5 49.98 53.79 0.93 48.179-Nov-07 1536.25   19.1 58.55 46.85 1.25 55.5512-Nov-07 1477.35   58.9 80.30 48.86 1.64 62.17

____________________________________________________________ BABASAB PATIL 38

Page 39: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Nov-07 1574.2 96.85   96.85 48.86 1.98 66.4714-Nov-07 1752.3 178.1   137.48 47.74 2.88 74.2215-Nov-07 1700.45   51.85 137.48 56.54 2.43 70.8616-Nov-07 1687.1   13.35 137.48 40.94 3.36 77.0519-Nov-07 1654.55   32.55 137.48 35.15 3.91 79.6420-Nov-07 1630.3   24.25 137.48 36.18 3.80 79.1721-Nov-07 1580.9   49.4 137.48 34.28 4.01 80.0422-Nov-07 1591.7 10.8   94.45 34.28 2.76 73.3723-Nov-07 1562.7   29 10.80 33.40 0.32 24.4326-Nov-07 1643.35 80.65   45.72 29.71 1.54 60.6227-Nov-07 1632.65   10.7 45.72 29.18 1.57 61.0428-Nov-07 1606.35   26.3 45.72 27.93 1.64 62.0829-Nov-07 1674.4 68.05   53.17 28.85 1.84 64.8230-Nov-07 1716.15 41.75   50.31 22.00 2.29 69.583-Dec-07 1696.1   20.05 63.48 21.51 2.95 74.694-Dec-07 1701.65 5.55   49.00 19.02 2.58 72.045-Dec-07 1723.8 22.15   34.38 19.02 1.81 64.386-Dec-07 1689.95   33.85 34.38 26.73 1.29 56.257-Dec-07 1719.8 29.85   33.47 26.95 1.24 55.4010-Dec-07 1687.95   31.85 24.83 28.58 0.87 46.4811-Dec-07 1780.55 92.6   37.54 28.58 1.31 56.7712-Dec-07 1784.05 3.5   30.73 32.85 0.94 48.3313-Dec-07 1756.35   27.7 37.02 31.13 1.19 54.3214-Dec-07 1724.45   31.9 41.98 31.32 1.34 57.2717-Dec-07 1683.55   40.9 41.98 33.09 1.27 55.9218-Dec-07 1661.75   21.8 48.05 30.83 1.56 60.9219-Dec-07 1653.05   8.7 48.05 26.20 1.83 64.7120-Dec-07 1642.7   10.35 3.50 23.56 0.15 12.9424-Dec-07 1698.15 55.45   55.45 23.56 2.35 70.1826-Dec-07 1706.75 8.6   32.03 22.73 1.41 58.4927-Dec-07 1745.5 38.75   34.27 20.44 1.68 62.6428-Dec-07 1730.3   15.2 34.27 14.01 2.45 70.9831-Dec-07 1729.1   1.2 34.27 8.86 3.87 79.451-Jan-08 1729.5 0.4   25.80 8.92 2.89 74.322-Jan-08 1715.3   14.2 25.80 10.20 2.53 71.673-Jan-08 1694.4   20.9 15.92 12.88 1.24 55.284-Jan-08 1696.4 2   13.72 12.88 1.07 51.587-Jan-08 1655.4   41 1.20 18.50 0.06 6.098-Jan-08 1715.75 60.35   20.92 19.33 1.08 51.989-Jan-08 1744.6 28.85   22.90 25.37 0.90 47.4410-Jan-08 1722   22.6 30.40 24.68 1.23 55.2011-Jan-08 1764.55 42.55   33.44 28.17 1.19 54.2814-Jan-08 1783.15 18.6   30.47 31.80 0.96 48.9315-Jan-08 1788.95 5.8   31.23 31.80 0.98 49.5516-Jan-08 1673.75   115.2 31.23 68.90 0.45 31.1917-Jan-08 1643.6   30.15 23.95 55.98 0.43 29.9618-Jan-08 1571   72.6 22.32 60.14 0.37 27.0721-Jan-08 1507.1   63.9 22.32 70.46 0.32 24.0522-Jan-08 1426.4   80.7 12.20 72.51 0.17 14.4023-Jan-08 1534.3 107.9   56.85 72.51 0.78 43.9524-Jan-08 1510.4   23.9 107.90 64.41 1.68 62.6225-Jan-08 1608.45 98.05   102.98 54.25 1.90 65.5028-Jan-08 1590.2   18.25 102.98 51.87 1.99 66.5029-Jan-08 1537.35   52.85 102.98 47.92 2.15 68.24

____________________________________________________________ BABASAB PATIL 39

Page 40: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

30-Jan-08 1532.95   4.4 102.98 36.02 2.86 74.0931-Jan-08 1569.55 36.6   80.85 24.85 3.25 76.491-Feb-08 1571 1.45   45.37 24.85 1.83 64.614-Feb-08 1547.4   23.6 45.37 24.78 1.83 64.685-Feb-08 1512.25   35.15 19.03 26.85 0.71 41.476-Feb-08 1500.1   12.15 19.03 25.63 0.74 42.607-Feb-08 1491.8   8.3 19.03 16.72 1.14 53.228-Feb-08 1441.95   49.85 19.03 25.81 0.74 42.4311-Feb-08 1410.75   31.2 1.45 26.71 0.05 5.1512-Feb-08 1407.65   3.1 0.00 23.34 0.00 0.0013-Feb-08 1468.5 60.85   60.85 23.29 2.61 72.3214-Feb-08 1536.45 67.95   64.40 20.92 3.08 75.4815-Feb-08 1562.25 25.8   51.53 23.11 2.23 69.0418-Feb-08 1556.85   5.4 51.53 22.39 2.30 69.7119-Feb-08 1571.9 15.05   42.41 13.23 3.20 76.2220-Feb-08 1537.2   34.7 42.41 14.40 2.95 74.6521-Feb-08 1540.85 3.65   34.66 20.05 1.73 63.3522-Feb-08 1474.3   66.55 28.11 35.55 0.79 44.1625-Feb-08 1421.75   52.55 14.83 39.80 0.37 27.1526-Feb-08 1454.9 33.15   17.28 39.80 0.43 30.2827-Feb-08 1452.3   2.6 17.28 39.10 0.44 30.6528-Feb-08 1472.55 20.25   19.02 39.10 0.49 32.7229-Feb-08 1456.75   15.8 19.02 34.38 0.55 35.623-Mar-08 1389.9   66.85 26.70 40.87 0.65 39.514-Mar-08 1351.75   38.15 26.70 35.19 0.76 43.145-Mar-08 1332.75   19 26.70 28.48 0.94 48.397-Mar-08 1282.25   50.5 20.25 32.15 0.63 38.6510-Mar-08 1311.5 29.25   24.75 38.06 0.65 39.4011-Mar-08 1333.2 21.7   25.48 38.06 0.67 40.1012-Mar-08 1370.55 37.35   29.43 43.63 0.67 40.2913-Mar-08 1299.15   71.4 29.43 44.76 0.66 39.6714-Mar-08 1315.45 16.3   26.15 46.97 0.56 35.7617-Mar-08 1226   89.45 26.15 70.45 0.37 27.0718-Mar-08 1230.95 4.95   21.91 80.43 0.27 21.4119-Mar-08 1272.6 41.65   24.39 80.43 0.30 23.2724-Mar-08 1341.9 69.3   33.91 80.43 0.42 29.6625-Mar-08 1414 72.1   40.86 80.43 0.51 33.6926-Mar-08 1439.2 25.2   38.25 89.45 0.43 29.9527-Mar-08 1433.2   6 42.64 47.73 0.89 47.1928-Mar-08 1407   26.2 42.64 16.10 2.65 72.5931-Mar-08 1331.25   75.75 52.06 35.98 1.45 59.13

____________________________________________________________ BABASAB PATIL 40

Page 41: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF HDFC BANK (7 DAYS)

HDFCBANK

Closing Price ROC

2-Apr-07 901.353-Apr-07 914.24-Apr-07 925.055-Apr-07 942.69-Apr-07 971.1510-Apr-07 991.9511-Apr-07 979.35 8.6512-Apr-07 958.35 4.8313-Apr-07 981.2 6.0716-Apr-07 974.95 3.4317-Apr-07 978.05 0.7118-Apr-07 980.4 -1.1619-Apr-07 982.45 0.3220-Apr-07 994.6 3.7823-Apr-07 986.8 0.5724-Apr-07 1013.75 3.9825-Apr-07 1031 5.4126-Apr-07 1034.45 5.5127-Apr-07 1014.6 3.2730-Apr-07 1024.15 2.973-May-07 1004.6 1.804-May-07 1007.75 -0.597-May-07 1000.05 -3.008-May-07 991.3 -4.179-May-07 994.7 -1.9610-May-07 1011.8 -1.2111-May-07 992.6 -1.1914-May-07 995.9 -1.1815-May-07 1011.05 1.1016-May-07 1035.45 4.4517-May-07 1042.05 4.7618-May-07 1070.3 5.7821-May-07 1106.8 11.5122-May-07 1115.1 11.9723-May-07 1114.65 10.2524-May-07 1091.15 5.3825-May-07 1069.2 2.6128-May-07 1127.15 5.3129-May-07 1144.4 3.4030-May-07 1104.05 -0.9931-May-07 1147.6 2.961-Jun-07 1153.45 5.714-Jun-07 1168.4 9.285-Jun-07 1159.6 2.886-Jun-07 1127.2 -1.507-Jun-07 1105.55 0.148-Jun-07 1090.95 -4.9411-Jun-07 1097.35 -4.8612-Jun-07 1088.15 -6.8713-Jun-07 1082.9 -6.61

____________________________________________________________ BABASAB PATIL 41

Page 42: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Jun-07 1096.4 -2.7315-Jun-07 1110.35 0.4318-Jun-07 1088.45 -0.2319-Jun-07 1099.95 0.2420-Jun-07 1100.05 1.0921-Jun-07 1101.8 1.7522-Jun-07 1103 0.6025-Jun-07 1099.8 -0.9526-Jun-07 1098.7 0.9427-Jun-07 1090.35 -0.8728-Jun-07 1097.3 -0.2529-Jun-07 1146.75 4.082-Jul-07 1147.55 4.043-Jul-07 1150.5 4.614-Jul-07 1150.75 4.745-Jul-07 1129.1 3.556-Jul-07 1158.3 5.569-Jul-07 1167.6 1.8210-Jul-07 1149.3 0.1511-Jul-07 1148.75 -0.1512-Jul-07 1201.45 4.4113-Jul-07 1226.4 8.6216-Jul-07 1217.65 5.1217-Jul-07 1199.3 2.7118-Jul-07 1200.05 4.4219-Jul-07 1209.25 5.2720-Jul-07 1200.9 -0.0523-Jul-07 1230.3 0.3224-Jul-07 1248.9 2.5725-Jul-07 1239.05 3.3126-Jul-07 1217.25 1.4327-Jul-07 1169.35 -3.3030-Jul-07 1168.85 -2.6731-Jul-07 1200.6 -2.411-Aug-07 1161.35 -7.012-Aug-07 1152.4 -6.993-Aug-07 1155 -5.116-Aug-07 1132.5 -3.157-Aug-07 1141.4 -2.358-Aug-07 1171.75 -2.409-Aug-07 1155.65 -0.4910-Aug-07 1130.5 -1.9013-Aug-07 1135.65 -1.6814-Aug-07 1147.65 1.3416-Aug-07 1094 -4.1517-Aug-07 1068.1 -8.8520-Aug-07 1110.9 -3.8721-Aug-07 1103.95 -2.3522-Aug-07 1117.4 -1.6123-Aug-07 1100.15 -4.1424-Aug-07 1097.7 0.3427-Aug-07 1119.6 4.8228-Aug-07 1150.6 3.5729-Aug-07 1162.55 5.31

____________________________________________________________ BABASAB PATIL 42

Page 43: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

30-Aug-07 1180.6 5.6631-Aug-07 1171.7 6.503-Sep-07 1176.4 7.174-Sep-07 1176.45 5.085-Sep-07 1172.45 1.906-Sep-07 1184.6 1.907-Sep-07 1196.55 1.3510-Sep-07 1196.1 2.0811-Sep-07 1187.8 0.9712-Sep-07 1182.15 0.4813-Sep-07 1213.5 3.5014-Sep-07 1232.7 4.0617-Sep-07 1226.15 2.4718-Sep-07 1231.15 2.9319-Sep-07 1324.3 11.4920-Sep-07 1326.2 12.1921-Sep-07 1318.45 8.6524-Sep-07 1346.5 9.2325-Sep-07 1396.35 13.8826-Sep-07 1375.7 11.7427-Sep-07 1433 8.2128-Sep-07 1435.6 8.251-Oct-07 1411.65 7.073-Oct-07 1424.8 5.824-Oct-07 1409.7 0.965-Oct-07 1403.15 2.008-Oct-07 1407.35 -1.799-Oct-07 1421.15 -1.0110-Oct-07 1416.95 0.3811-Oct-07 1460.7 2.5212-Oct-07 1432.7 1.6315-Oct-07 1499.2 6.8516-Oct-07 1507.75 7.1317-Oct-07 1462.75 2.9318-Oct-07 1388.2 -2.0319-Oct-07 1366.35 -6.4622-Oct-07 1371.9 -4.2423-Oct-07 1488.2 -0.7324-Oct-07 1513.95 0.4125-Oct-07 1554 6.2426-Oct-07 1546.5 11.4029-Oct-07 1646.95 20.5430-Oct-07 1620.55 18.1231-Oct-07 1653.4 11.101-Nov-07 1690.2 11.642-Nov-07 1770.5 13.935-Nov-07 1716.05 10.966-Nov-07 1708.2 3.727-Nov-07 1616.85 -0.238-Nov-07 1555.35 -5.939-Nov-07 1536.25 -9.1112-Nov-07 1477.35 -16.5613-Nov-07 1574.2 -8.2714-Nov-07 1752.3 2.58

____________________________________________________________ BABASAB PATIL 43

Page 44: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

15-Nov-07 1700.45 5.1716-Nov-07 1687.1 8.4719-Nov-07 1654.55 7.7020-Nov-07 1630.3 10.3521-Nov-07 1580.9 0.4322-Nov-07 1591.7 -9.1723-Nov-07 1562.7 -8.1026-Nov-07 1643.35 -2.5927-Nov-07 1632.65 -1.3228-Nov-07 1606.35 -1.4729-Nov-07 1674.4 5.9130-Nov-07 1716.15 7.823-Dec-07 1696.1 8.544-Dec-07 1701.65 3.555-Dec-07 1723.8 5.586-Dec-07 1689.95 5.207-Dec-07 1719.8 2.7110-Dec-07 1687.95 -1.6411-Dec-07 1780.55 4.9812-Dec-07 1784.05 4.8413-Dec-07 1756.35 1.8914-Dec-07 1724.45 2.0417-Dec-07 1683.55 -2.1118-Dec-07 1661.75 -1.5519-Dec-07 1653.05 -7.1620-Dec-07 1642.7 -7.9224-Dec-07 1698.15 -3.3126-Dec-07 1706.75 -1.0327-Dec-07 1745.5 3.6828-Dec-07 1730.3 4.1331-Dec-07 1729.1 4.601-Jan-08 1729.5 5.282-Jan-08 1715.3 1.013-Jan-08 1694.4 -0.724-Jan-08 1696.4 -2.817-Jan-08 1655.4 -4.338-Jan-08 1715.75 -0.779-Jan-08 1744.6 0.8710-Jan-08 1722 0.3911-Jan-08 1764.55 4.1414-Jan-08 1783.15 5.1115-Jan-08 1788.95 8.0716-Jan-08 1673.75 -2.4517-Jan-08 1643.6 -5.7918-Jan-08 1571 -8.7721-Jan-08 1507.1 -14.5922-Jan-08 1426.4 -20.0123-Jan-08 1534.3 -14.2324-Jan-08 1510.4 -9.7625-Jan-08 1608.45 -2.1428-Jan-08 1590.2 1.2229-Jan-08 1537.35 2.0130-Jan-08 1532.95 7.4731-Jan-08 1569.55 2.30

____________________________________________________________ BABASAB PATIL 44

Page 45: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

1-Feb-08 1571 4.014-Feb-08 1547.4 -3.805-Feb-08 1512.25 -4.906-Feb-08 1500.1 -2.427-Feb-08 1491.8 -2.688-Feb-08 1441.95 -8.1311-Feb-08 1410.75 -10.2012-Feb-08 1407.65 -9.0313-Feb-08 1468.5 -2.8914-Feb-08 1536.45 2.4215-Feb-08 1562.25 4.7218-Feb-08 1556.85 7.9719-Feb-08 1571.9 11.4220-Feb-08 1537.2 9.2021-Feb-08 1540.85 4.9322-Feb-08 1474.3 -4.0525-Feb-08 1421.75 -8.9926-Feb-08 1454.9 -6.5527-Feb-08 1452.3 -7.6128-Feb-08 1472.55 -4.2129-Feb-08 1456.75 -5.463-Mar-08 1389.9 -5.724-Mar-08 1351.75 -4.925-Mar-08 1332.75 -8.407-Mar-08 1282.25 -11.7110-Mar-08 1311.5 -10.9411-Mar-08 1333.2 -8.4812-Mar-08 1370.55 -1.3913-Mar-08 1299.15 -3.8914-Mar-08 1315.45 -1.3017-Mar-08 1226 -4.3918-Mar-08 1230.95 -6.1419-Mar-08 1272.6 -4.5524-Mar-08 1341.9 -2.0925-Mar-08 1414 8.8426-Mar-08 1439.2 9.4127-Mar-08 1433.2 16.9028-Mar-08 1407 14.3031-Mar-08 1331.25 4.61

____________________________________________________________ BABASAB PATIL 45

Page 46: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

TECHNICAL ANALYSIS OF ICICI BANK

12 Days & 24 Days Moving Average of ICICI BANK

ICICIBANK

Close Price

12 Days

24 Days

2-Apr-07 803.95    3-Apr-07 807.9    4-Apr-07 820.95    5-Apr-07 838.65    9-Apr-07 858.25    10-Apr-07 857.75    11-Apr-07 859.5    12-Apr-07 849.25    13-Apr-07 873.45    16-Apr-07 888.25    17-Apr-07 894    18-Apr-07 898.95 854.24  19-Apr-07 905.15 862.67  20-Apr-07 916.7 871.74  23-Apr-07 917.55 879.79  24-Apr-07 950.1 889.08  25-Apr-07 962.9 897.80 876.6626-Apr-07 961.45 906.44 885.9327-Apr-07 935.15 912.74 893.4130-Apr-07 865.85 914.13 896.053-May-07 869.9 913.83 897.894-May-07 855.85 911.13 897.757-May-07 843.75 906.94 896.938-May-07 839.8 902.01 895.779-May-07 849.35 897.36 895.7710-May-07 842.95 891.22 893.9811-May-07 848.45 885.46 891.6414-May-07 870.4 878.82 890.2515-May-07 886.85 872.48 889.5416-May-07 918.6 868.91 890.3317-May-07 938.05 869.15 891.5918-May-07 951.15 876.26 893.5621-May-07 943 882.35 893.1422-May-07 928.55 888.41 891.1223-May-07 917.85 894.58 888.5624-May-07 911.3 900.54 887.1625-May-07 912.7 905.82 889.9128-May-07 922.8 912.48 893.0229-May-07 920.6 918.49 896.8330-May-07 913.65 922.09 900.9431-May-07 919.15 924.78 905.611-Jun-07 930.45 925.77 910.384-Jun-07 933.35 925.38 915.705-Jun-07 939.05 924.37 921.036-Jun-07 911.2 921.72 923.437-Jun-07 909.1 920.10 924.748-Jun-07 903.45 918.90 923.8511-Jun-07 901.95 918.12 921.72

____________________________________________________________ BABASAB PATIL 46

Page 47: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

12-Jun-07 919.35 918.68 919.8513-Jun-07 913.95 917.94 918.1414-Jun-07 905.85 916.71 916.8115-Jun-07 908.7 916.30 916.2718-Jun-07 918.75 916.26 916.7119-Jun-07 945.15 917.49 918.6220-Jun-07 948.15 918.72 920.1121-Jun-07 949.95 919.63 921.8422-Jun-07 954.55 923.24 924.2425-Jun-07 952.6 926.87 926.2126-Jun-07 945.9 930.40 927.1227-Jun-07 938.05 933.41 927.3928-Jun-07 942.85 935.37 927.6229-Jun-07 955.45 938.83 930.222-Jul-07 950.2 942.53 932.643-Jul-07 966.7 947.36 936.364-Jul-07 985.95 952.96 941.305-Jul-07 1003.65 957.83 946.266-Jul-07 981.5 960.61 950.239-Jul-07 970.7 962.34 954.0510-Jul-07 963.95 963.13 957.3011-Jul-07 953.55 963.20 959.3412-Jul-07 967.65 965.02 960.6713-Jul-07 972.5 967.89 962.1016-Jul-07 970.9 970.23 963.3317-Jul-07 973.7 971.75 964.4618-Jul-07 983.35 974.51 966.2719-Jul-07 989.6 976.42 968.8420-Jul-07 985.85 976.41 971.6523-Jul-07 970.1 973.61 973.2524-Jul-07 969.65 972.63 974.0925-Jul-07 958.4 971.60 974.5726-Jul-07 944.55 969.98 973.2727-Jul-07 914.4 966.72 969.0630-Jul-07 923 963.00 964.3131-Jul-07 927.45 959.25 961.141-Aug-07 891 952.59 956.452-Aug-07 901.4 946.56 952.773-Aug-07 915.5 940.91 950.536-Aug-07 886.9 932.35 945.787-Aug-07 869.9 922.69 939.748-Aug-07 884 915.51 934.639-Aug-07 889.7 908.85 929.6910-Aug-07 864.1 900.99 922.6813-Aug-07 873.85 895.10 915.8714-Aug-07 878.65 892.12 909.5616-Aug-07 832.15 884.55 901.4517-Aug-07 824.7 875.99 892.9220-Aug-07 872.35 874.43 887.8621-Aug-07 829.05 868.40 881.0622-Aug-07 846.1 862.62 877.0523-Aug-07 824.95 857.46 871.2824-Aug-07 833.8 854.45 865.7727-Aug-07 883.55 854.41 865.33

____________________________________________________________ BABASAB PATIL 47

Page 48: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

28-Aug-07 862.9 852.18 863.0729-Aug-07 857.1 851.60 859.6330-Aug-07 873.05 851.53 858.8231-Aug-07 888.4 852.34 859.913-Sep-07 907.9 858.65 861.314-Sep-07 908.6 865.65 862.425-Sep-07 915.4 869.23 865.446-Sep-07 920.9 876.89 868.217-Sep-07 920.05 883.05 870.6410-Sep-07 910.9 890.21 875.2811-Sep-07 901.55 895.86 879.8012-Sep-07 885.35 896.01 880.5613-Sep-07 884.05 897.77 883.8014-Sep-07 906.3 901.87 887.3417-Sep-07 895.15 903.71 891.4718-Sep-07 924.55 906.73 896.8119-Sep-07 973.55 912.20 902.1020-Sep-07 967.1 917.07 908.2321-Sep-07 966.05 921.29 914.6424-Sep-07 996.3 927.58 921.8925-Sep-07 993.05 933.66 928.0426-Sep-07 1020 942.75 934.6427-Sep-07 1028.25 953.31 941.6828-Sep-07 1062.4 968.06 950.321-Oct-07 1057.8 982.54 958.383-Oct-07 1086.55 997.56 968.174-Oct-07 1068 1011.97 977.415-Oct-07 1036.4 1021.29 985.348-Oct-07 1021.2 1025.26 993.349-Oct-07 1045.65 1031.80 1002.8410-Oct-07 1070.55 1040.51 1012.5011-Oct-07 1091.25 1048.43 1024.0412-Oct-07 1055 1053.59 1031.7115-Oct-07 1097.45 1060.04 1039.0016-Oct-07 1159.65 1070.99 1050.3317-Oct-07 1117.1 1075.55 1059.2118-Oct-07 1036.5 1073.78 1061.5819-Oct-07 1022.8 1068.46 1063.3322-Oct-07 1061.35 1067.91 1065.7623-Oct-07 1102 1073.38 1070.1024-Oct-07 1099.9 1079.93 1072.3025-Oct-07 1144.65 1088.18 1077.4126-Oct-07 1187.5 1097.93 1083.3529-Oct-07 1240.65 1110.38 1093.5130-Oct-07 1240.2 1125.81 1105.4931-Oct-07 1254.05 1138.86 1119.191-Nov-07 1298.3 1150.42 1134.052-Nov-07 1333.4 1168.44 1149.515-Nov-07 1269.85 1187.89 1160.026-Nov-07 1241.8 1206.14 1171.017-Nov-07 1200.8 1217.76 1177.098-Nov-07 1169.05 1223.35 1177.649-Nov-07 1144.45 1227.06 1179.2512-Nov-07 1145.35 1227.12 1185.65

____________________________________________________________ BABASAB PATIL 48

Page 49: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Nov-07 1173.7 1225.97 1194.5314-Nov-07 1278.55 1229.13 1207.3115-Nov-07 1241.65 1229.25 1215.5216-Nov-07 1220.05 1226.41 1222.5919-Nov-07 1187.7 1217.20 1225.1220-Nov-07 1160.45 1202.78 1223.5321-Nov-07 1106.45 1189.17 1215.6422-Nov-07 1145.35 1181.13 1210.0623-Nov-07 1139.4 1176.01 1203.3126-Nov-07 1156.8 1174.99 1194.9927-Nov-07 1132.3 1173.98 1183.1628-Nov-07 1122.9 1172.11 1174.5129-Nov-07 1161.75 1171.11 1169.8130-Nov-07 1178.4 1162.77 1168.493-Dec-07 1162 1156.13 1168.074-Dec-07 1139.7 1149.43 1167.795-Dec-07 1164.05 1147.46 1168.896-Dec-07 1200.7 1150.82 1170.487-Dec-07 1247.6 1162.58 1168.6610-Dec-07 1271.45 1173.09 1170.4111-Dec-07 1314.3 1187.66 1175.9612-Dec-07 1289.9 1198.75 1181.9713-Dec-07 1242.85 1207.97 1186.8214-Dec-07 1206.95 1214.97 1192.7317-Dec-07 1166.25 1215.35 1193.9618-Dec-07 1137.7 1211.95 1193.8619-Dec-07 1163.4 1212.07 1194.2520-Dec-07 1157.5 1213.55 1195.7324-Dec-07 1205.95 1217.05 1200.6126-Dec-07 1218.9 1218.56 1203.9827-Dec-07 1247.25 1218.53 1208.0328-Dec-07 1226.7 1214.80 1211.8331-Dec-07 1238.7 1208.50 1217.661-Jan-08 1228.75 1203.41 1221.462-Jan-08 1267.25 1205.44 1225.383-Jan-08 1228.95 1207.28 1224.284-Jan-08 1286.3 1217.28 1225.157-Jan-08 1362.55 1236.02 1227.998-Jan-08 1339.95 1250.73 1230.949-Jan-08 1307.95 1263.27 1234.7610-Jan-08 1356.15 1275.78 1243.5411-Jan-08 1435 1293.79 1259.3514-Jan-08 1410 1307.35 1275.3715-Jan-08 1352.2 1317.81 1286.4716-Jan-08 1368.3 1328.61 1298.8717-Jan-08 1322.1 1336.39 1305.7118-Jan-08 1248.85 1334.86 1307.4721-Jan-08 1173.2 1330.21 1303.1122-Jan-08 1124.95 1316.77 1297.1323-Jan-08 1151.45 1299.18 1291.9924-Jan-08 1131.85 1281.83 1286.2925-Jan-08 1261.3 1277.95 1285.9428-Jan-08 1273.95 1271.10 1288.5929-Jan-08 1220.45 1253.22 1284.72

____________________________________________________________ BABASAB PATIL 49

Page 50: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

30-Jan-08 1187.4 1234.67 1274.4131-Jan-08 1147 1217.57 1263.061-Feb-08 1198.15 1203.39 1256.614-Feb-08 1212.25 1194.23 1248.145-Feb-08 1191.3 1189.44 1233.816-Feb-08 1152.05 1187.68 1218.637-Feb-08 1106.1 1186.10 1204.168-Feb-08 1073.9 1179.64 1186.8411-Feb-08 1033.85 1171.48 1169.8812-Feb-08 1067.25 1155.30 1159.2013-Feb-08 1101.8 1140.96 1155.0014-Feb-08 1161.85 1136.08 1157.1715-Feb-08 1190.9 1136.37 1159.4918-Feb-08 1209.8 1141.60 1164.0819-Feb-08 1220.2 1143.44 1161.6620-Feb-08 1168.3 1139.78 1155.4421-Feb-08 1141.3 1135.61 1150.7922-Feb-08 1099.8 1131.25 1145.6425-Feb-08 1107.1 1131.34 1143.2926-Feb-08 1117.85 1135.00 1138.5627-Feb-08 1116.95 1141.93 1132.9628-Feb-08 1105.85 1145.14 1127.9329-Feb-08 1088.5 1144.03 1124.193-Mar-08 1024.6 1132.60 1119.404-Mar-08 971.1 1114.28 1113.355-Mar-08 960.15 1093.48 1109.027-Mar-08 893.4 1066.24 1098.7910-Mar-08 871.85 1041.54 1085.2611-Mar-08 856.65 1017.82 1067.3112-Mar-08 880.3 999.53 1049.0413-Mar-08 837.55 977.06 1027.1414-Mar-08 876.95 956.99 1006.9517-Mar-08 759.95 927.24 982.9318-Mar-08 768.2 899.10 960.9919-Mar-08 768.2 872.41 941.4824-Mar-08 802.2 853.88 923.5425-Mar-08 878.85 846.19 909.4926-Mar-08 843.95 836.50 893.4327-Mar-08 834.55 831.60 877.4728-Mar-08 835.5 828.57 862.5931-Mar-08 769.4 821.30 847.57

____________________________________________________________ BABASAB PATIL 50

Page 51: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF ICICI BANK (OF 7

DAYS)

ICICIBANK

Close Price Gain Loss

Average Gain

Average Loss RS RSI

2-Apr-07 803.95            3-Apr-07 807.9 3.95          4-Apr-07 820.95 13.05          5-Apr-07 838.65 17.7          9-Apr-07 858.25 19.6          10-Apr-07 857.75   0.5        11-Apr-07 859.5 1.75   11.21 0.50 22.42 95.7312-Apr-07 849.25   10.25 11.21 5.38 2.09 67.5913-Apr-07 873.45 24.2   15.26 5.38 2.84 73.9516-Apr-07 888.25 14.8   15.61 5.38 2.90 74.3917-Apr-07 894 5.75   13.22 5.38 2.46 71.0918-Apr-07 898.95 4.95   10.29 5.38 1.91 65.6919-Apr-07 905.15 6.2   9.61 10.25 0.94 48.3820-Apr-07 916.7 11.55   11.24 10.25 1.10 52.3123-Apr-07 917.55 0.85   9.76 0.00 0.00 0.0024-Apr-07 950.1 32.55   10.95 0.00 0.00 0.0025-Apr-07 962.9 12.8   10.66 0.00 0.00 0.0026-Apr-07 961.45   1.45 11.48 1.45 7.92 88.7927-Apr-07 935.15   26.3 12.79 13.88 0.92 47.9730-Apr-07 865.85   69.3 14.44 32.35 0.45 30.863-May-07 869.9 4.05   12.56 32.35 0.39 27.974-May-07 855.85   14.05 16.47 27.78 0.59 37.227-May-07 843.75   12.1 8.42 24.64 0.34 25.488-May-07 839.8   3.95 4.05 21.19 0.19 16.049-May-07 849.35 9.55   6.80 25.14 0.27 21.2910-May-07 842.95   6.4 6.80 21.16 0.32 24.3211-May-07 848.45 5.5   6.37 9.13 0.70 41.1014-May-07 870.4 21.95   12.33 9.13 1.35 57.4815-May-07 886.85 16.45   13.36 7.48 1.79 64.1016-May-07 918.6 31.75   17.04 5.18 3.29 76.7017-May-07 938.05 19.45   17.44 6.40 2.73 73.1618-May-07 951.15 13.1   18.03 6.40 2.82 73.8121-May-07 943   8.15 18.03 8.15 2.21 68.8722-May-07 928.55   14.45 20.54 11.30 1.82 64.5123-May-07 917.85   10.7 20.19 11.10 1.82 64.5224-May-07 911.3   6.55 21.43 9.96 2.15 68.2725-May-07 912.7 1.4   11.32 9.96 1.14 53.1828-May-07 922.8 10.1   8.20 9.96 0.82 45.1529-May-07 920.6   2.2 5.75 8.41 0.68 40.6130-May-07 913.65   6.95 5.75 8.17 0.70 41.3131-May-07 919.15 5.5   5.67 6.60 0.86 46.201-Jun-07 930.45 11.3   7.08 5.23 1.35 57.484-Jun-07 933.35 2.9   6.24 4.57 1.36 57.705-Jun-07 939.05 5.7   7.10 4.57 1.55 60.816-Jun-07 911.2   27.85 6.35 12.33 0.51 33.997-Jun-07 909.1   2.1 6.35 12.30 0.52 34.058-Jun-07 903.45   5.65 6.35 11.87 0.54 34.8611-Jun-07 901.95   1.5 6.63 9.27 0.72 41.7012-Jun-07 919.35 17.4   8.67 9.27 0.93 48.30

____________________________________________________________ BABASAB PATIL 51

Page 52: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Jun-07 913.95   5.4 11.55 8.50 1.36 57.6114-Jun-07 905.85   8.1 17.40 8.43 2.06 67.3515-Jun-07 908.7 2.85   10.13 4.55 2.23 68.9918-Jun-07 918.75 10.05   10.10 5.16 1.96 66.1819-Jun-07 945.15 26.4   14.18 5.00 2.84 73.9220-Jun-07 948.15 3   11.94 6.75 1.77 63.8821-Jun-07 949.95 1.8   8.82 6.75 1.31 56.6522-Jun-07 954.55 4.6   8.12 8.10 1.00 50.0525-Jun-07 952.6   1.95 8.12 1.95 4.16 80.6326-Jun-07 945.9   6.7 9.17 4.32 2.12 67.9527-Jun-07 938.05   7.85 8.95 5.50 1.63 61.9428-Jun-07 942.85 4.8   3.55 5.50 0.65 39.2329-Jun-07 955.45 12.6   5.95 5.50 1.08 51.972-Jul-07 950.2   5.25 7.33 5.44 1.35 57.423-Jul-07 966.7 16.5   11.30 5.44 2.08 67.514-Jul-07 985.95 19.25   13.29 6.60 2.01 66.815-Jul-07 1003.65 17.7   14.17 6.55 2.16 68.396-Jul-07 981.5   22.15 14.17 13.70 1.03 50.849-Jul-07 970.7   10.8 16.51 12.73 1.30 56.4610-Jul-07 963.95   6.75 17.82 11.24 1.59 61.3211-Jul-07 953.55   10.4 17.82 12.53 1.42 58.7212-Jul-07 967.65 14.1   17.02 12.53 1.36 57.6013-Jul-07 972.5 4.85   12.22 12.53 0.98 49.3816-Jul-07 970.9   1.6 9.48 10.34 0.92 47.8217-Jul-07 973.7 2.8   7.25 7.39 0.98 49.5318-Jul-07 983.35 9.65   7.85 6.25 1.26 55.6719-Jul-07 989.6 6.25   7.53 6.00 1.25 55.6520-Jul-07 985.85   3.75 7.53 2.68 2.81 73.7923-Jul-07 970.1   15.75 5.89 7.03 0.84 45.5724-Jul-07 969.65   0.45 6.23 5.39 1.16 53.6425-Jul-07 958.4   11.25 6.23 7.80 0.80 44.4226-Jul-07 944.55   13.85 7.95 9.01 0.88 46.8727-Jul-07 914.4   30.15 6.25 12.53 0.50 33.2730-Jul-07 923 8.6   8.60 12.53 0.69 40.6931-Jul-07 927.45 4.45   6.53 14.29 0.46 31.351-Aug-07 891   36.45 6.53 18.43 0.35 26.152-Aug-07 901.4 10.4   7.82 22.93 0.34 25.433-Aug-07 915.5 14.1   9.39 26.82 0.35 25.936-Aug-07 886.9   28.6 9.39 31.73 0.30 22.837-Aug-07 869.9   17 9.39 27.35 0.34 25.558-Aug-07 884 14.1   10.76 27.35 0.39 28.249-Aug-07 889.7 5.7   11.08 27.35 0.40 28.8210-Aug-07 864.1   25.6 11.08 23.73 0.47 31.8213-Aug-07 873.85 9.75   10.91 23.73 0.46 31.5014-Aug-07 878.65 4.8   8.59 23.73 0.36 26.5716-Aug-07 832.15   46.5 8.59 29.70 0.29 22.4317-Aug-07 824.7   7.45 8.59 26.52 0.32 24.4620-Aug-07 872.35 47.65   16.98 26.52 0.64 39.0321-Aug-07 829.05   43.3 20.73 30.71 0.68 40.3022-Aug-07 846.1 17.05   19.81 32.42 0.61 37.9323-Aug-07 824.95   21.15 23.17 29.60 0.78 43.9024-Aug-07 833.8 8.85   24.52 29.60 0.83 45.3027-Aug-07 883.55 49.75   30.83 23.97 1.29 56.2628-Aug-07 862.9   20.65 30.83 28.37 1.09 52.08

____________________________________________________________ BABASAB PATIL 52

Page 53: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

29-Aug-07 857.1   5.8 25.22 22.73 1.11 52.6030-Aug-07 873.05 15.95   22.90 15.87 1.44 59.0731-Aug-07 888.4 15.35   22.48 15.87 1.42 58.623-Sep-07 907.9 19.5   21.88 13.23 1.65 62.334-Sep-07 908.6 0.7   20.25 13.23 1.53 60.495-Sep-07 915.4 6.8   11.66 13.23 0.88 46.866-Sep-07 920.9 5.5   10.63 5.80 1.83 64.717-Sep-07 920.05   0.85 10.63 0.85 12.51 92.6010-Sep-07 910.9   9.15 9.57 5.00 1.91 65.6811-Sep-07 901.55   9.35 8.13 6.45 1.26 55.7512-Sep-07 885.35   16.2 4.33 8.89 0.49 32.7813-Sep-07 884.05   1.3 6.15 7.37 0.83 45.4914-Sep-07 906.3 22.25   13.88 7.37 1.88 65.3117-Sep-07 895.15   11.15 22.25 9.60 2.32 69.8618-Sep-07 924.55 29.4   25.83 9.43 2.74 73.2519-Sep-07 973.55 49   33.55 9.50 3.53 77.9320-Sep-07 967.1   6.45 33.55 8.77 3.82 79.2721-Sep-07 966.05   1.05 33.55 4.99 6.73 87.0624-Sep-07 996.3 30.25   32.73 6.22 5.26 84.0425-Sep-07 993.05   3.25 36.22 5.47 6.61 86.8726-Sep-07 1020 26.95   33.90 3.58 9.46 90.4427-Sep-07 1028.25 8.25   28.61 3.58 7.98 88.8728-Sep-07 1062.4 34.15   24.90 3.58 6.95 87.421-Oct-07 1057.8   4.6 24.90 2.97 8.39 89.353-Oct-07 1086.55 28.75   25.67 3.93 6.54 86.744-Oct-07 1068   18.55 24.53 8.80 2.79 73.595-Oct-07 1036.4   31.6 24.53 18.25 1.34 57.338-Oct-07 1021.2   15.2 23.72 17.49 1.36 57.569-Oct-07 1045.65 24.45   29.12 17.49 1.66 62.4810-Oct-07 1070.55 24.9   26.03 17.49 1.49 59.8211-Oct-07 1091.25 20.7   24.70 21.78 1.13 53.1412-Oct-07 1055   36.25 23.35 25.40 0.92 47.9015-Oct-07 1097.45 42.45   28.13 27.68 1.02 50.4016-Oct-07 1159.65 62.2   34.94 25.73 1.36 57.5917-Oct-07 1117.1   42.55 34.94 39.40 0.89 47.0018-Oct-07 1036.5   80.6 37.56 53.13 0.71 41.4219-Oct-07 1022.8   13.7 41.78 43.28 0.97 49.1222-Oct-07 1061.35 38.55   47.73 43.28 1.10 52.4523-Oct-07 1102 40.65   45.96 45.62 1.01 50.1924-Oct-07 1099.9   2.1 47.13 34.74 1.36 57.5725-Oct-07 1144.65 44.75   41.32 34.74 1.19 54.3326-Oct-07 1187.5 42.85   41.70 32.13 1.30 56.4829-Oct-07 1240.65 53.15   43.99 7.90 5.57 84.7830-Oct-07 1240.2   0.45 43.99 1.27 34.50 97.1831-Oct-07 1254.05 13.85   39.05 1.27 30.63 96.841-Nov-07 1298.3 44.25   39.77 1.27 31.19 96.892-Nov-07 1333.4 35.1   38.99 0.45 86.65 98.865-Nov-07 1269.85   63.55 37.84 32.00 1.18 54.186-Nov-07 1241.8   28.05 36.59 30.68 1.19 54.397-Nov-07 1200.8   41 31.07 33.26 0.93 48.298-Nov-07 1169.05   31.75 31.07 41.09 0.76 43.069-Nov-07 1144.45   24.6 39.68 37.79 1.05 51.2212-Nov-07 1145.35 0.9   18.00 37.79 0.48 32.2613-Nov-07 1173.7 28.35   14.63 37.79 0.39 27.90

____________________________________________________________ BABASAB PATIL 53

Page 54: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Nov-07 1278.55 104.85   44.70 31.35 1.43 58.7815-Nov-07 1241.65   36.9 44.70 33.56 1.33 57.1216-Nov-07 1220.05   21.6 44.70 28.71 1.56 60.8919-Nov-07 1187.7   32.35 44.70 28.86 1.55 60.7620-Nov-07 1160.45   27.25 44.70 29.53 1.51 60.2221-Nov-07 1106.45   54 66.60 34.42 1.93 65.9322-Nov-07 1145.35 38.9   71.87 34.42 2.09 67.6223-Nov-07 1139.4   5.95 38.90 29.68 1.31 56.7326-Nov-07 1156.8 17.4   28.15 28.23 1.00 49.9327-Nov-07 1132.3   24.5 28.15 28.81 0.98 49.4228-Nov-07 1122.9   9.4 28.15 24.22 1.16 53.7529-Nov-07 1161.75 38.85   31.72 23.46 1.35 57.4830-Nov-07 1178.4 16.65   27.95 13.28 2.10 67.783-Dec-07 1162   16.4 24.30 14.06 1.73 63.344-Dec-07 1139.7   22.3 24.30 18.15 1.34 57.245-Dec-07 1164.05 24.35   26.62 18.15 1.47 59.466-Dec-07 1200.7 36.65   29.13 16.03 1.82 64.507-Dec-07 1247.6 46.9   32.68 19.35 1.69 62.8110-Dec-07 1271.45 23.85   29.68 19.35 1.53 60.5311-Dec-07 1314.3 42.85   34.92 19.35 1.80 64.3412-Dec-07 1289.9   24.4 34.92 23.35 1.50 59.9313-Dec-07 1242.85   47.05 34.92 35.73 0.98 49.4314-Dec-07 1206.95   35.9 30.05 35.78 0.84 45.6517-Dec-07 1166.25   40.7 37.87 37.01 1.02 50.5718-Dec-07 1137.7   28.55 33.35 35.32 0.94 48.5719-Dec-07 1163.4 25.7   34.28 35.32 0.97 49.2520-Dec-07 1157.5   5.9 25.70 30.42 0.84 45.8024-Dec-07 1205.95 48.45   37.08 31.62 1.17 53.9726-Dec-07 1218.9 12.95   29.03 27.76 1.05 51.1227-Dec-07 1247.25 28.35   28.86 25.05 1.15 53.5428-Dec-07 1226.7   20.55 28.86 18.33 1.57 61.1531-Dec-07 1238.7 12   25.49 13.23 1.93 65.841-Jan-08 1228.75   9.95 25.44 12.13 2.10 67.712-Jan-08 1267.25 38.5   28.05 15.25 1.84 64.783-Jan-08 1228.95   38.3 22.95 22.93 1.00 50.024-Jan-08 1286.3 57.35   34.05 22.93 1.48 59.757-Jan-08 1362.55 76.25   46.03 22.93 2.01 66.748-Jan-08 1339.95   22.6 46.03 23.62 1.95 66.099-Jan-08 1307.95   32 57.37 25.71 2.23 69.0510-Jan-08 1356.15 48.2   55.08 30.97 1.78 64.0111-Jan-08 1435 78.85   65.16 30.97 2.10 67.7914-Jan-08 1410   25 65.16 26.53 2.46 71.0615-Jan-08 1352.2   57.8 67.77 34.35 1.97 66.3616-Jan-08 1368.3 16.1   47.72 34.35 1.39 58.1417-Jan-08 1322.1   46.2 47.72 40.25 1.19 54.2418-Jan-08 1248.85   73.25 47.72 50.56 0.94 48.5521-Jan-08 1173.2   75.65 47.47 55.58 0.85 46.0722-Jan-08 1124.95   48.25 16.10 54.36 0.30 22.8523-Jan-08 1151.45 26.5   21.30 60.23 0.35 26.1324-Jan-08 1131.85   19.6 21.30 52.59 0.41 28.8325-Jan-08 1261.3 129.45   77.98 52.59 1.48 59.7228-Jan-08 1273.95 12.65   56.20 54.19 1.04 50.9129-Jan-08 1220.45   53.5 56.20 49.25 1.14 53.3030-Jan-08 1187.4   33.05 56.20 38.60 1.46 59.28

____________________________________________________________ BABASAB PATIL 54

Page 55: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

31-Jan-08 1147   40.4 56.20 36.64 1.53 60.541-Feb-08 1198.15 51.15   64.42 36.64 1.76 63.744-Feb-08 1212.25 14.1   51.84 42.32 1.22 55.065-Feb-08 1191.3   20.95 25.97 36.98 0.70 41.266-Feb-08 1152.05   39.25 32.63 37.43 0.87 46.577-Feb-08 1106.1   45.95 32.63 35.92 0.91 47.608-Feb-08 1073.9   32.2 32.63 35.75 0.91 47.7111-Feb-08 1033.85   40.05 32.63 35.68 0.91 47.7612-Feb-08 1067.25 33.4   23.75 35.68 0.67 39.9613-Feb-08 1101.8 34.55   33.98 35.68 0.95 48.7814-Feb-08 1161.85 60.05   42.67 39.36 1.08 52.0115-Feb-08 1190.9 29.05   39.26 39.40 1.00 49.9118-Feb-08 1209.8 18.9   35.19 36.13 0.97 49.3419-Feb-08 1220.2 10.4   31.06 40.05 0.78 43.6820-Feb-08 1168.3   51.9 31.06 51.90 0.60 37.4421-Feb-08 1141.3   27 30.59 39.45 0.78 43.6822-Feb-08 1099.8   41.5 29.60 40.13 0.74 42.4525-Feb-08 1107.1 7.3   21.88 40.13 0.55 35.2926-Feb-08 1117.85 10.75   11.84 40.13 0.29 22.7827-Feb-08 1116.95   0.9 9.48 30.33 0.31 23.8228-Feb-08 1105.85   11.1 9.02 26.48 0.34 25.4229-Feb-08 1088.5   17.35 9.02 19.57 0.46 31.563-Mar-08 1024.6   63.9 9.02 26.95 0.33 25.094-Mar-08 971.1   53.5 9.02 29.35 0.31 23.525-Mar-08 960.15   10.95 10.75 26.28 0.41 29.037-Mar-08 893.4   66.75 0.00 32.06 0.00 0.0010-Mar-08 871.85   21.55 0.00 35.01 0.00 0.0011-Mar-08 856.65   15.2 0.00 35.60 0.00 0.0012-Mar-08 880.3 23.65   23.65 38.64 0.61 37.9713-Mar-08 837.55   42.75 23.65 35.12 0.67 40.2414-Mar-08 876.95 39.4   31.53 31.44 1.00 50.0717-Mar-08 759.95   117 31.53 52.65 0.60 37.4518-Mar-08 768.2 8.25   23.77 49.13 0.48 32.6119-Mar-08 768.2 0 0 17.83 43.74 0.41 28.9524-Mar-08 802.2 34   21.06 53.25 0.40 28.3425-Mar-08 878.85 76.65   31.66 53.25 0.59 37.2926-Mar-08 843.95   34.9 31.66 50.63 0.63 38.4727-Mar-08 834.55   9.4 29.73 40.33 0.74 42.4328-Mar-08 835.5 0.95   23.97 14.77 1.62 61.8831-Mar-08 769.4   66.1 27.90 27.60 1.01 50.27

____________________________________________________________ BABASAB PATIL 55

Page 56: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF ICICI BANK (7 DAYS)

ICICIBANK

Close Price ROC

2-Apr-07 803.953-Apr-07 807.94-Apr-07 820.955-Apr-07 838.659-Apr-07 858.2510-Apr-07 857.7511-Apr-07 859.5 6.9112-Apr-07 849.25 5.1213-Apr-07 873.45 6.4016-Apr-07 888.25 5.9117-Apr-07 894 4.1718-Apr-07 898.95 4.8019-Apr-07 905.15 5.3120-Apr-07 916.7 7.9423-Apr-07 917.55 5.0524-Apr-07 950.1 6.9625-Apr-07 962.9 7.7126-Apr-07 961.45 6.9527-Apr-07 935.15 3.3130-Apr-07 865.85 -5.553-May-07 869.9 -5.194-May-07 855.85 -9.927-May-07 843.75 -12.378-May-07 839.8 -12.659-May-07 849.35 -9.1710-May-07 842.95 -2.6411-May-07 848.45 -2.4714-May-07 870.4 1.7015-May-07 886.85 5.1116-May-07 918.6 9.3817-May-07 938.05 10.4418-May-07 951.15 12.8421-May-07 943 11.1422-May-07 928.55 6.6823-May-07 917.85 3.5024-May-07 911.3 -0.7925-May-07 912.7 -2.7028-May-07 922.8 -2.9829-May-07 920.6 -2.3830-May-07 913.65 -1.6031-May-07 919.15 0.141-Jun-07 930.45 2.104-Jun-07 933.35 2.265-Jun-07 939.05 1.766-Jun-07 911.2 -1.027-Jun-07 909.1 -0.508-Jun-07 903.45 -1.7111-Jun-07 901.95 -3.0612-Jun-07 919.35 -1.5013-Jun-07 913.95 -2.67

____________________________________________________________ BABASAB PATIL 56

Page 57: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Jun-07 905.85 -0.5915-Jun-07 908.7 -0.0418-Jun-07 918.75 1.6919-Jun-07 945.15 4.7920-Jun-07 948.15 3.1321-Jun-07 949.95 3.9422-Jun-07 954.55 5.3825-Jun-07 952.6 4.8326-Jun-07 945.9 2.9627-Jun-07 938.05 -0.7528-Jun-07 942.85 -0.5629-Jun-07 955.45 0.582-Jul-07 950.2 -0.463-Jul-07 966.7 1.484-Jul-07 985.95 4.23

5-Jul-071003.65 6.99

6-Jul-07 981.5 4.109-Jul-07 970.7 1.6010-Jul-07 963.95 1.4511-Jul-07 953.55 -1.3612-Jul-07 967.65 -1.8613-Jul-07 972.5 -3.1016-Jul-07 970.9 -1.0817-Jul-07 973.7 0.3118-Jul-07 983.35 2.0119-Jul-07 989.6 3.7820-Jul-07 985.85 1.8823-Jul-07 970.1 -0.2524-Jul-07 969.65 -0.1325-Jul-07 958.4 -1.5726-Jul-07 944.55 -3.9527-Jul-07 914.4 -7.6030-Jul-07 923 -6.3831-Jul-07 927.45 -4.401-Aug-07 891 -8.112-Aug-07 901.4 -5.953-Aug-07 915.5 -3.086-Aug-07 886.9 -3.017-Aug-07 869.9 -5.758-Aug-07 884 -4.689-Aug-07 889.7 -0.1510-Aug-07 864.1 -4.1413-Aug-07 873.85 -4.5514-Aug-07 878.65 -0.9316-Aug-07 832.15 -4.3417-Aug-07 824.7 -6.7120-Aug-07 872.35 -1.9521-Aug-07 829.05 -4.0622-Aug-07 846.1 -3.1823-Aug-07 824.95 -6.1124-Aug-07 833.8 0.2027-Aug-07 883.55 7.1428-Aug-07 862.9 -1.08

____________________________________________________________ BABASAB PATIL 57

Page 58: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

29-Aug-07 857.1 3.3830-Aug-07 873.05 3.1931-Aug-07 888.4 7.693-Sep-07 907.9 8.894-Sep-07 908.6 2.845-Sep-07 915.4 6.086-Sep-07 920.9 7.447-Sep-07 920.05 5.3810-Sep-07 910.9 2.5311-Sep-07 901.55 -0.7012-Sep-07 885.35 -2.5613-Sep-07 884.05 -3.4214-Sep-07 906.3 -1.5917-Sep-07 895.15 -2.7118-Sep-07 924.55 1.5019-Sep-07 973.55 7.9920-Sep-07 967.1 9.2321-Sep-07 966.05 9.2824-Sep-07 996.3 9.9325-Sep-07 993.05 10.9426-Sep-07 1020 10.32

27-Sep-071028.25 5.62

28-Sep-07 1062.4 9.851-Oct-07 1057.8 9.50

3-Oct-071086.55 9.06

4-Oct-07 1068 7.555-Oct-07 1036.4 1.618-Oct-07 1021.2 -0.69

9-Oct-071045.65 -1.58

10-Oct-071070.55 1.21

11-Oct-071091.25 0.43

12-Oct-07 1055 -1.22

15-Oct-071097.45 5.89

16-Oct-071159.65 13.56

17-Oct-07 1117.1 6.8318-Oct-07 1036.5 -3.1819-Oct-07 1022.8 -6.27

22-Oct-071061.35 0.60

23-Oct-07 1102 0.4124-Oct-07 1099.9 -5.15

25-Oct-071144.65 2.47

26-Oct-07 1187.5 14.57

29-Oct-071240.65 21.30

30-Oct-07 1240.2 16.8531-Oct-07 1254.0 13.80

____________________________________________________________ BABASAB PATIL 58

Page 59: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

51-Nov-07 1298.3 18.042-Nov-07 1333.4 16.49

5-Nov-071269.85 6.93

6-Nov-07 1241.8 0.097-Nov-07 1200.8 -3.18

8-Nov-071169.05 -6.78

9-Nov-071144.45 -11.85

12-Nov-071145.35 -14.10

13-Nov-07 1173.7 -7.57

14-Nov-071278.55 2.96

15-Nov-071241.65 3.40

16-Nov-071220.05 4.36

19-Nov-07 1187.7 3.78

20-Nov-071160.45 1.32

21-Nov-071106.45 -5.73

22-Nov-071145.35 -10.42

23-Nov-07 1139.4 -8.2426-Nov-07 1156.8 -5.1827-Nov-07 1132.3 -4.6628-Nov-07 1122.9 -3.24

29-Nov-071161.75 5.00

30-Nov-07 1178.4 2.893-Dec-07 1162 1.984-Dec-07 1139.7 -1.48

5-Dec-071164.05 2.80

6-Dec-07 1200.7 6.937-Dec-07 1247.6 7.39

10-Dec-071271.45 7.90

11-Dec-07 1314.3 13.1112-Dec-07 1289.9 13.18

13-Dec-071242.85 6.77

14-Dec-071206.95 0.52

17-Dec-071166.25 -6.52

18-Dec-07 1137.7 -10.5219-Dec-07 1163.4 -11.4820-Dec-07 1157.5 -10.26

24-Dec-071205.95 -2.97

26-Dec-07 1218.9 0.99

____________________________________________________________ BABASAB PATIL 59

Page 60: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

27-Dec-071247.25 6.95

28-Dec-07 1226.7 7.8231-Dec-07 1238.7 6.47

1-Jan-081228.75 6.16

2-Jan-081267.25 5.08

3-Jan-081228.95 0.82

4-Jan-08 1286.3 3.13

7-Jan-081362.55 11.07

8-Jan-081339.95 8.17

9-Jan-081307.95 6.45

10-Jan-081356.15 7.02

11-Jan-08 1435 16.7714-Jan-08 1410 9.6215-Jan-08 1352.2 -0.7616-Jan-08 1368.3 2.1217-Jan-08 1322.1 1.08

18-Jan-081248.85 -7.91

21-Jan-08 1173.2 -18.24

22-Jan-081124.95 -20.22

23-Jan-081151.45 -14.85

24-Jan-081131.85 -17.28

25-Jan-08 1261.3 -4.60

28-Jan-081273.95 2.01

29-Jan-081220.45 4.03

30-Jan-08 1187.4 5.5531-Jan-08 1147 -0.39

1-Feb-081198.15 5.86

4-Feb-081212.25 -3.89

5-Feb-08 1191.3 -6.49

6-Feb-081152.05 -5.60

7-Feb-08 1106.1 -6.858-Feb-08 1073.9 -6.37

11-Feb-081033.85 -13.71

12-Feb-081067.25 -11.96

13-Feb-08 1101.8 -7.51

14-Feb-081161.85 0.85

____________________________________________________________ BABASAB PATIL 60

Page 61: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

15-Feb-08 1190.9 7.6718-Feb-08 1209.8 12.6519-Feb-08 1220.2 18.0220-Feb-08 1168.3 9.4721-Feb-08 1141.3 3.5922-Feb-08 1099.8 -5.3425-Feb-08 1107.1 -7.04

26-Feb-081117.85 -7.60

27-Feb-081116.95 -8.46

28-Feb-081105.85 -5.35

29-Feb-08 1088.5 -4.633-Mar-08 1024.6 -6.844-Mar-08 971.1 -12.285-Mar-08 960.15 -14.117-Mar-08 893.4 -20.0110-Mar-08 871.85 -21.1611-Mar-08 856.65 -21.3012-Mar-08 880.3 -14.0813-Mar-08 837.55 -13.7514-Mar-08 876.95 -8.6717-Mar-08 759.95 -14.9418-Mar-08 768.2 -11.8919-Mar-08 768.2 -10.3324-Mar-08 802.2 -8.8725-Mar-08 878.85 4.9326-Mar-08 843.95 -3.7627-Mar-08 834.55 9.8228-Mar-08 835.5 8.7631-Mar-08 769.4 0.16

____________________________________________________________ BABASAB PATIL 61

Page 62: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

TECHNICAL ANALYSIS OF INFOSYS

12 DAYS & 24 DAYS MOVING AVERAGE OF INFOSYS

Infosys Technologies Ltd

Close Price

12 Days

24 Days

2-Apr-071922.95

3-Apr-071964.65

4-Apr-07 1994.35-Apr-07 1992.3

9-Apr-072047.55

10-Apr-071998.85

11-Apr-071996.25

12-Apr-072045.85

13-Apr-07 2086.916-Apr-07 2128.7

17-Apr-072082.75

18-Apr-07 2076.32028.11

19-Apr-07 2039.92037.86

20-Apr-07 2055.12045.40

23-Apr-072069.25

2051.64

24-Apr-07 2057.92057.11

25-Apr-07 2018.52054.69

26-Apr-072018.85

2056.35

27-Apr-072005.15

2057.10

30-Apr-072050.85

2057.51

3-May-072081.65

2057.08

4-May-07 2071.92052.34

7-May-072041.85

2048.93

8-May-072002.25

2042.76 2035.44

9-May-07 1980.62037.82 2037.84

10-May-07 1974.22031.08 2038.24

11-May-07 2000.62025.36 2038.50

____________________________________________________________ BABASAB PATIL 62

Page 63: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-May-07 2001.92020.69 2038.90

15-May-071973.45

2016.94 2035.81

16-May-07 1951.72011.34 2033.85

17-May-07 1983.52009.54 2033.32

18-May-07 1981.92003.79 2030.65

21-May-07 1960.41993.69 2025.38

22-May-071946.75

1983.26 2017.80

23-May-071925.75

1973.58 2011.26

24-May-07 19371968.15 2005.45

25-May-07 1985.51968.55 2003.19

28-May-071971.55

1968.33 1999.71

29-May-07 1953.71964.43 1994.89

30-May-071906.15

1956.45 1988.57

31-May-07 1923.51952.28 1984.61

1-Jun-071938.55

1951.19 1981.26

4-Jun-07 1916.31945.59 1977.56

5-Jun-07 1943.21942.36 1973.08

6-Jun-071938.35

1940.53 1967.11

7-Jun-071957.15

1941.39 1962.33

8-Jun-071950.85

1943.48 1958.53

11-Jun-07 1979.81947.05 1957.60

12-Jun-07 1989.51947.38 1957.97

13-Jun-071988.75

1948.82 1958.58

14-Jun-07 2019.21954.28 1959.35

15-Jun-07 2009.41962.88 1959.66

18-Jun-071989.45

1968.38 1960.33

19-Jun-07 1956.61969.88 1960.53

20-Jun-07 1954.21973.04 1959.31

21-Jun-071958.45

1974.31 1958.34

____________________________________________________________ BABASAB PATIL 63

Page 64: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

22-Jun-07 1950.81975.35 1957.94

25-Jun-071936.65

1973.64 1957.51

26-Jun-071922.15

1971.25 1957.36

27-Jun-071935.35

1967.54 1957.30

28-Jun-071925.05

1962.17 1954.78

29-Jun-071929.05

1957.20 1953.01

2-Jul-071943.85

1950.92 1952.60

3-Jul-07 1947.41945.75 1954.31

4-Jul-071931.05

1940.88 1954.63

5-Jul-07 1916.81937.57 1953.72

6-Jul-07 1971.81939.03 1956.04

9-Jul-071993.75

1941.98 1958.14

10-Jul-07 2020.51947.78 1961.56

11-Jul-071929.65

1947.20 1960.42

12-Jul-07 1922.21947.20 1959.23

13-Jul-07 1939.81947.58 1957.56

16-Jul-071935.85

1948.48 1955.32

17-Jul-071938.55

1949.27 1953.23

18-Jul-071944.55

1949.33 1950.12

19-Jul-07 1996.51953.42 1949.58

20-Jul-071986.25

1958.02 1949.45

23-Jul-07 1947.81960.60 1949.08

24-Jul-07 1975.11960.88 1949.95

25-Jul-071988.85

1960.47 1951.22

26-Jul-072034.35

1961.62 1954.70

27-Jul-072007.85

1968.14 1957.67

30-Jul-07 1986.41973.49 1960.35

31-Jul-07 1975.81976.49 1962.03

1-Aug-07 1929.51975.96 1962.22

____________________________________________________________ BABASAB PATIL 64

Page 65: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

2-Aug-07 1899.21972.68 1960.97

3-Aug-071916.65

1970.35 1959.84

6-Aug-07 1865.31959.42 1956.42

7-Aug-071878.45

1950.44 1954.23

8-Aug-071967.25

1952.06 1956.33

9-Aug-071934.25

1948.65 1954.76

10-Aug-07 1959.91946.24 1953.35

13-Aug-07 1949.91939.20 1950.41

14-Aug-07 1955.41934.83 1951.49

16-Aug-07 1913.11928.73 1951.11

17-Aug-071854.55

1918.62 1947.55

20-Aug-07 1829.21910.26 1943.11

21-Aug-071761.35

1898.78 1935.73

22-Aug-07 1788.71888.11 1929.23

23-Aug-071811.55

1883.63 1921.53

24-Aug-07 1825.61879.23 1914.83

27-Aug-07 1847.71869.27 1910.66

28-Aug-071880.25

1864.77 1906.71

29-Aug-071837.25

1854.55 1900.39

30-Aug-07 1865.21847.49 1893.35

31-Aug-071854.55

1839.08 1886.96

3-Sep-071860.65

1834.71 1881.72

4-Sep-07 1889.71837.64 1878.13

5-Sep-071895.05

1843.13 1876.70

6-Sep-07 1903.81855.00 1876.89

7-Sep-07 1908.51864.98 1876.55

10-Sep-07 1871.51869.98 1876.81

11-Sep-07 1822.81869.75 1874.49

12-Sep-071821.85

1867.59 1868.43

____________________________________________________________ BABASAB PATIL 65

Page 66: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Sep-071834.25

1863.76 1864.26

14-Sep-07 1837.11863.75 1859.15

17-Sep-07 1804.81858.71 1853.10

18-Sep-071804.55

1854.55 1846.81

19-Sep-07 1851.61853.79 1844.25

20-Sep-07 1800.41846.35 1842.00

21-Sep-07 1825.91840.59 1841.86

24-Sep-071763.05

1828.86 1841.93

25-Sep-071771.35

1817.43 1841.21

26-Sep-071825.15

1813.57 1841.77

27-Sep-071915.85

1821.32 1845.53

28-Sep-071892.75

1827.23 1847.41

1-Oct-071905.35

1833.15 1848.46

3-Oct-072001.55

1846.86 1855.30

4-Oct-07 1998.91863.03 1860.87

5-Oct-07 1982.91877.90 1866.22

8-Oct-072003.65

1890.57 1872.18

9-Oct-07 2047.41911.15 1878.75

10-Oct-072125.05

1936.08 1888.33

11-Oct-071976.85

1953.90 1891.38

12-Oct-07 1929.71967.09 1892.26

15-Oct-07 1927.81975.65 1894.61

16-Oct-071866.35

1971.52 1896.42

17-Oct-07 1890.31971.32 1899.27

18-Oct-07 18901970.04 1901.60

19-Oct-071909.65

1962.38 1904.62

22-Oct-071886.75

1953.03 1908.03

23-Oct-071883.45

1944.75 1911.32

24-Oct-07 1844.51931.48 1911.03

____________________________________________________________ BABASAB PATIL 66

Page 67: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

25-Oct-071837.05

1913.95 1912.55

26-Oct-071848.25

1890.89 1913.48

29-Oct-07 1860.61881.20 1917.55

30-Oct-07 1854.21874.91 1921.00

31-Oct-071837.45

1867.38 1921.51

1-Nov-071873.95

1868.01 1919.77

2-Nov-071917.15

1870.25 1920.78

5-Nov-07 18541867.25 1918.64

6-Nov-071851.75

1862.43 1912.40

7-Nov-07 1745.91850.69 1901.86

8-Nov-071716.35

1836.76 1890.75

9-Nov-071701.15

1824.82 1878.15

12-Nov-071641.85

1808.55 1861.25

13-Nov-071627.15

1790.13 1840.51

14-Nov-071707.95

1777.40 1829.30

15-Nov-07 1647.31760.16 1817.54

16-Nov-07 16251742.46 1804.92

19-Nov-071619.95

1721.29 1794.65

20-Nov-07 1565.71692.00 1781.13

21-Nov-07 1547.11666.43 1766.84

22-Nov-07 1531.61639.75 1751.09

23-Nov-07 1557.51624.05 1737.37

26-Nov-071575.95

1612.35 1724.56

27-Nov-071573.65

1601.73 1713.27

28-Nov-07 1569.31595.68 1702.11

29-Nov-071567.25

1590.69 1690.41

30-Nov-07 1602.51581.90 1679.65

3-Dec-071600.35

1577.99 1669.08

4-Dec-07 1615.31577.18 1659.82

____________________________________________________________ BABASAB PATIL 67

Page 68: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

5-Dec-07 1603.51575.81 1648.55

6-Dec-071635.35

1581.61 1636.81

7-Dec-07 1722.31596.21 1631.32

10-Dec-07 1748.71614.30 1627.03

11-Dec-07 1744.31629.87 1626.96

12-Dec-071685.75

1639.02 1625.69

13-Dec-071659.95

1646.21 1623.97

14-Dec-07 1646.31652.63 1624.15

17-Dec-071624.35

1657.39 1624.04

18-Dec-071617.95

1658.68 1620.29

19-Dec-07 1639.41661.93 1619.96

20-Dec-071695.55

1668.62 1622.90

24-Dec-071810.15

1685.84 1630.82

26-Dec-07 1817.81701.04 1641.33

27-Dec-07 1802.41707.72 1651.96

28-Dec-071796.25

1711.68 1662.99

31-Dec-07 1769.91713.81 1671.84

1-Jan-081746.85

1718.90 1678.96

2-Jan-08 1748.31726.27 1686.24

3-Jan-081709.05

1731.50 1692.06

4-Jan-08 1694.91737.38 1697.38

7-Jan-081636.85

1738.95 1698.81

8-Jan-081662.25

1740.85 1701.39

9-Jan-081652.95

1737.30 1702.96

10-Jan-081602.55

1720.00 1702.92

11-Jan-081581.75

1700.33 1700.69

14-Jan-08 1529.51677.59 1692.65

15-Jan-08 1502.11653.08 1682.38

16-Jan-08 1495.31630.20 1672.00

____________________________________________________________ BABASAB PATIL 68

Page 69: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

17-Jan-08 1490.41608.83 1663.86

18-Jan-08 1468.41585.50 1655.88

21-Jan-08 1391.11559.00 1645.25

22-Jan-08 1380.91532.84 1635.11

23-Jan-08 14221514.93 1626.94

24-Jan-081422.55

1494.96 1617.91

25-Jan-081519.85

1483.87 1610.59

28-Jan-081446.35

1470.85 1595.43

29-Jan-08 1492.61463.42 1581.88

30-Jan-081493.25

1460.40 1569.00

31-Jan-081499.05

1460.15 1556.61

1-Feb-08 1594.61468.42 1549.31

4-Feb-081640.05

1480.89 1544.86

5-Feb-08 1609.31492.63 1539.07

6-Feb-081509.95

1502.54 1530.77

7-Feb-081482.35

1510.99 1521.91

8-Feb-081552.35

1521.85 1518.39

11-Feb-081557.95

1533.14 1514.05

12-Feb-081545.25

1535.25 1509.56

13-Feb-08 1545.41543.51 1507.18

14-Feb-081546.75

1548.02 1505.72

15-Feb-08 1565.41554.03 1507.22

18-Feb-081555.15

1558.71 1509.43

19-Feb-08 1556.51555.53 1511.98

20-Feb-08 1568.91549.60 1515.25

21-Feb-081627.55

1551.13 1521.88

22-Feb-081580.65

1557.02 1529.78

25-Feb-081615.15

1568.08 1539.54

26-Feb-081662.85

1577.29 1549.57

____________________________________________________________ BABASAB PATIL 69

Page 70: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

27-Feb-08 1618.91582.37 1557.75

28-Feb-081599.35

1586.88 1561.07

29-Feb-08 1548.21587.11 1565.31

3-Mar-08 1467.91580.54 1564.28

4-Mar-081419.05

1568.35 1561.19

5-Mar-08 1478.81561.98 1560.35

7-Mar-081430.55

1551.49 1553.51

10-Mar-08 1431.11540.00 1544.80

11-Mar-081426.35

1523.24 1537.18

12-Mar-081385.15

1506.95 1531.98

13-Mar-08 1337.71483.83 1525.95

14-Mar-08 1370.21459.44 1518.36

17-Mar-08 1337.81436.01 1509.19

18-Mar-08 1314.61412.28 1499.58

19-Mar-08 1343.71395.24 1491.18

24-Mar-081360.45

1386.29 1483.41

25-Mar-08 1492.31392.39 1480.37

26-Mar-08 1499.51394.12 1478.05

27-Mar-081441.75

1395.05 1473.27

28-Mar-08 1521.21402.56 1471.28

31-Mar-08 1439.91403.69 1463.46

____________________________________________________________ BABASAB PATIL 70

Page 71: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF INFOSYS (7 DAYS)

Infosys Technologies Ltd CL PRC Gain Loss

Average Gain

Average Loss RS RSI

2-Apr-07 1922.95            3-Apr-07 1964.65 41.7          4-Apr-07 1994.3 29.65          5-Apr-07 1992.3   2        9-Apr-07 2047.55 55.25          10-Apr-07 1998.85   48.7        11-Apr-07 1996.25   2.6 42.20 37.25 1.13 53.1212-Apr-07 2045.85 49.6   44.05 17.77 2.48 71.2613-Apr-07 2086.9 41.05   43.89 17.77 2.47 71.1816-Apr-07 2128.7 41.8   46.93 17.77 2.64 72.5417-Apr-07 2082.75   45.95 46.93 32.42 1.45 59.1418-Apr-07 2076.3   6.45 44.15 25.92 1.70 63.0019-Apr-07 2039.9   36.4 44.15 22.85 1.93 65.9020-Apr-07 2055.1 15.2   36.91 29.60 1.25 55.5023-Apr-07 2069.25 14.15   28.05 29.60 0.95 48.6624-Apr-07 2057.9   11.35 23.72 25.04 0.95 48.6525-Apr-07 2018.5   39.4 14.68 27.91 0.53 34.4626-Apr-07 2018.85 0.35   9.90 23.40 0.42 29.7327-Apr-07 2005.15   13.7 9.90 25.21 0.39 28.2030-Apr-07 2050.85 45.7   18.85 21.48 0.88 46.743-May-07 2081.65 30.8   22.75 21.48 1.06 51.434-May-07 2071.9   9.75 25.62 18.55 1.38 58.007-May-07 2041.85   30.05 25.62 23.23 1.10 52.458-May-07 2002.25   39.6 25.62 23.28 1.10 52.399-May-07 1980.6   21.65 38.25 22.95 1.67 62.5010-May-07 1974.2   6.4 38.25 21.49 1.78 64.0311-May-07 2000.6 26.4   28.60 21.49 1.33 57.1014-May-07 2001.9 1.3   13.85 21.49 0.64 39.1915-May-07 1973.45   28.45 13.85 25.23 0.55 35.4416-May-07 1951.7   21.75 13.85 23.57 0.59 37.0117-May-07 1983.5 31.8   2.59 19.56 0.13 11.6818-May-07 1981.9   1.6 19.83 14.55 1.36 57.6821-May-07 1960.4   21.5 19.83 18.33 1.08 51.9822-May-07 1946.75   13.65 16.55 17.39 0.95 48.7623-May-07 1925.75   21 31.80 17.99 1.77 63.8724-May-07 1937 11.25   21.53 15.90 1.35 57.5225-May-07 1985.5 48.5   30.52 14.44 2.11 67.8828-May-07 1971.55   13.95 29.88 14.34 2.08 67.5729-May-07 1953.7   17.85 29.88 17.59 1.70 62.9430-May-07 1906.15   47.55 29.88 22.80 1.31 56.7231-May-07 1923.5 17.35   25.70 25.09 1.02 50.601-Jun-07 1938.55 15.05   23.04 26.45 0.87 46.554-Jun-07 1916.3   22.25 26.97 25.40 1.06 51.505-Jun-07 1943.2 26.9   19.77 25.40 0.78 43.766-Jun-07 1938.35   4.85 19.77 23.13 0.85 46.097-Jun-07 1957.15 18.8   19.53 24.88 0.78 43.978-Jun-07 1950.85   6.3 19.53 11.13 1.75 63.6911-Jun-07 1979.8 28.95   22.43 11.13 2.01 66.8212-Jun-07 1989.5 9.7   21.09 11.13 1.89 65.45

____________________________________________________________ BABASAB PATIL 71

Page 72: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Jun-07 1988.75   0.75 21.09 3.97 5.32 84.1714-Jun-07 2019.2 30.45   21.98 3.97 5.54 84.7115-Jun-07 2009.4   9.8 21.98 5.62 3.91 79.6418-Jun-07 1989.45   19.95 23.03 9.20 2.50 71.4619-Jun-07 1956.6   32.85 34.55 15.84 2.18 68.5720-Jun-07 1954.2   2.4 20.08 13.15 1.53 60.4221-Jun-07 1958.45 4.25   17.35 13.15 1.32 56.8922-Jun-07 1950.8   7.65 17.35 14.53 1.19 54.4225-Jun-07 1936.65   14.15 4.25 14.47 0.29 22.7126-Jun-07 1922.15   14.5 4.25 15.25 0.28 21.7927-Jun-07 1935.35 13.2   8.72 14.31 0.61 37.8828-Jun-07 1925.05   10.3 8.72 9.80 0.89 47.1029-Jun-07 1929.05 4   7.15 11.65 0.61 38.032-Jul-07 1943.85 14.8   10.67 11.65 0.92 47.803-Jul-07 1947.4 3.55   8.89 12.98 0.68 40.644-Jul-07 1931.05   16.35 8.89 13.72 0.65 39.325-Jul-07 1916.8   14.25 8.89 13.63 0.65 39.466-Jul-07  1971.8 55   19.34 13.63 1.42 58.659-Jul-07 1993.75 21.95   19.86 15.30 1.30 56.4810-Jul-07 2020.5 26.75   24.41 15.30 1.60 61.4711-Jul-07 1929.65   90.85 26.81 40.48 0.66 39.8412-Jul-07 1922.2   7.45 34.57 32.23 1.07 51.7513-Jul-07 1939.8 17.6   30.33 37.52 0.81 44.7016-Jul-07 1935.85   3.95 30.33 34.08 0.89 47.0817-Jul-07 1938.55 2.7   17.25 34.08 0.51 33.6018-Jul-07 1944.55 6   13.26 34.08 0.39 28.0119-Jul-07 1996.5 51.95   19.56 34.08 0.57 36.4720-Jul-07 1986.25   10.25 19.56 7.22 2.71 73.0523-Jul-07 1947.8   38.45 19.56 17.55 1.11 52.7124-Jul-07 1975.1 27.3   21.99 17.55 1.25 55.6125-Jul-07 1988.85 13.75   20.34 24.35 0.84 45.5126-Jul-07 2034.35 45.5   28.90 24.35 1.19 54.2727-Jul-07 2007.85   26.5 34.63 25.07 1.38 58.0130-Jul-07 1986.4   21.45 28.85 24.16 1.19 54.4231-Jul-07 1975.8   10.6 28.85 24.25 1.19 54.331-Aug-07 1929.5   46.3 43.28 26.21 1.65 62.282-Aug-07 1899.2   30.3 29.63 27.03 1.10 52.293-Aug-07 1916.65 17.45   31.48 27.03 1.16 53.806-Aug-07 1865.3   51.35 17.45 31.08 0.56 35.957-Aug-07 1878.45 13.15   15.30 32.00 0.48 32.358-Aug-07 1967.25 88.8   39.80 34.64 1.15 53.479-Aug-07 1934.25   33 39.80 40.24 0.99 49.7310-Aug-07 1959.9 25.65   36.26 38.22 0.95 48.6913-Aug-07 1949.9   10 36.26 31.45 1.15 53.5514-Aug-07 1955.4 5.5   33.28 31.45 1.06 51.4116-Aug-07 1913.1   42.3 33.28 28.43 1.17 53.9217-Aug-07 1854.55   58.55 39.98 35.96 1.11 52.6520-Aug-07 1829.2   25.35 15.58 33.84 0.46 31.5221-Aug-07 1761.35   67.85 15.58 40.81 0.38 27.6222-Aug-07 1788.7 27.35   16.43 40.81 0.40 28.7023-Aug-07 1811.55 22.85   18.57 48.51 0.38 27.6824-Aug-07 1825.6 14.05   21.42 48.51 0.44 30.6327-Aug-07 1847.7 22.1   43.18 50.58 0.85 46.0528-Aug-07 1880.25 32.55   23.78 46.60 0.51 33.79

____________________________________________________________ BABASAB PATIL 72

Page 73: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

29-Aug-07 1837.25   43 23.78 55.43 0.43 30.0230-Aug-07 1865.2 27.95   24.48 43.00 0.57 36.2731-Aug-07 1854.55   10.65 23.90 26.83 0.89 47.123-Sep-07 1860.65 6.1   20.55 26.83 0.77 43.384-Sep-07 1889.7 29.05   23.55 26.83 0.88 46.755-Sep-07 1895.05 5.35   20.20 26.83 0.75 42.966-Sep-07 1903.8 8.75   15.44 26.83 0.58 36.537-Sep-07 1908.5 4.7   13.65 10.65 1.28 56.1710-Sep-07 1871.5   37 10.79 23.83 0.45 31.1711-Sep-07 1822.8   48.7 10.79 42.85 0.25 20.1212-Sep-07 1821.85   0.95 11.96 28.88 0.41 29.2913-Sep-07 1834.25 12.4   7.80 28.88 0.27 21.2614-Sep-07 1837.1 2.85   7.18 28.88 0.25 19.9017-Sep-07 1804.8   32.3 6.65 29.74 0.22 18.2818-Sep-07 1804.55   0.25 7.63 23.84 0.32 24.2319-Sep-07 1851.6 47.05   20.77 20.55 1.01 50.2620-Sep-07 1800.4   51.2 20.77 21.18 0.98 49.5121-Sep-07 1825.9 25.5   21.95 27.92 0.79 44.0224-Sep-07 1763.05   62.85 25.13 36.65 0.69 40.6825-Sep-07 1771.35 8.3   26.95 36.65 0.74 42.3726-Sep-07 1825.15 53.8   33.66 38.10 0.88 46.9127-Sep-07 1915.85 90.7   45.07 57.02 0.79 44.1528-Sep-07 1892.75   23.1 44.58 45.72 0.98 49.371-Oct-07 1905.35 12.6   38.18 42.98 0.89 47.053-Oct-07 2001.55 96.2   52.32 42.98 1.22 54.904-Oct-07 1998.9   2.65 52.32 12.87 4.06 80.255-Oct-07 1982.9   16 63.33 13.92 4.55 81.988-Oct-07 2003.65 20.75   55.06 13.92 3.96 79.829-Oct-07 2047.4 43.75   43.33 13.92 3.11 75.6910-Oct-07 2125.05 77.65   50.19 9.32 5.38 84.3311-Oct-07 1976.85   148.2 59.59 55.62 1.07 51.7212-Oct-07 1929.7   47.15 47.38 53.50 0.89 46.9715-Oct-07 1927.8   1.9 47.38 53.31 0.89 47.0616-Oct-07 1866.35   61.45 47.38 64.68 0.73 42.2817-Oct-07 1890.3 23.95   48.45 64.68 0.75 42.8318-Oct-07 1890   0.3 50.80 51.80 0.98 49.5119-Oct-07 1909.65 19.65   21.80 51.80 0.42 29.6222-Oct-07 1886.75   22.9 21.80 26.74 0.82 44.9123-Oct-07 1883.45   3.3 21.80 17.97 1.21 54.8224-Oct-07 1844.5   38.95 21.80 25.38 0.86 46.2125-Oct-07 1837.05   7.45 21.80 14.58 1.50 59.9226-Oct-07 1848.25 11.2   15.43 14.58 1.06 51.4129-Oct-07 1860.6 12.35   14.40 18.15 0.79 44.2430-Oct-07 1854.2   6.4 11.78 15.80 0.75 42.7031-Oct-07 1837.45   16.75 11.78 14.57 0.81 44.701-Nov-07 1873.95 36.5   20.02 17.39 1.15 53.512-Nov-07 1917.15 43.2   25.81 10.20 2.53 71.685-Nov-07 1854   63.15 25.81 21.58 1.20 54.476-Nov-07 1851.75   2.25 30.68 22.14 1.39 58.09

7-Nov-07 1745.9  105.85 39.85 38.88 1.02 50.62

8-Nov-07 1716.35   29.55 39.85 54.39 0.73 42.299-Nov-07 1701.15   15.2 39.85 54.00 0.74 42.4612-Nov-07 1641.85   59.3 43.20 68.83 0.63 38.56

____________________________________________________________ BABASAB PATIL 73

Page 74: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

13-Nov-07 1627.15   14.7 0.00 41.43 0.00 0.0014-Nov-07 1707.95 80.8   80.80 37.81 2.14 68.1215-Nov-07 1647.3   60.65 80.80 47.54 1.70 62.9616-Nov-07 1625   22.3 80.80 33.62 2.40 70.6219-Nov-07 1619.95   5.05 80.80 29.53 2.74 73.2320-Nov-07 1565.7   54.25 80.80 36.04 2.24 69.1521-Nov-07 1547.1   18.6 80.80 29.26 2.76 73.4222-Nov-07 1531.6   15.5 80.80 29.39 2.75 73.3323-Nov-07 1557.5 25.9   25.90 44.09 0.59 37.0126-Nov-07 1575.95 18.45   22.18 23.14 0.96 48.9427-Nov-07 1573.65   2.3 22.18 19.14 1.16 53.6728-Nov-07 1569.3   4.35 22.18 19.00 1.17 53.8629-Nov-07 1567.25   2.05 22.18 8.56 2.59 72.1530-Nov-07 1602.5 35.25   26.53 6.05 4.39 81.433-Dec-07 1600.35   2.15 26.53 2.71 9.78 90.734-Dec-07 1615.3 14.95   22.88 2.71 8.44 89.405-Dec-07 1603.5   11.8 25.10 4.53 5.54 84.716-Dec-07 1635.35 31.85   27.35 5.09 5.38 84.327-Dec-07 1722.3 86.95   42.25 5.33 7.92 88.7910-Dec-07 1748.7 26.4   39.08 6.98 5.60 84.8611-Dec-07 1744.3   4.4 40.04 6.12 6.55 86.7512-Dec-07 1685.75   58.55 40.04 24.92 1.61 61.6413-Dec-07 1659.95   25.8 48.40 25.14 1.93 65.8214-Dec-07 1646.3   13.65 48.40 25.60 1.89 65.4117-Dec-07 1624.35   21.95 56.68 24.87 2.28 69.5018-Dec-07 1617.95   6.4 26.40 18.68 1.41 58.5619-Dec-07 1639.4 21.45   21.45 21.79 0.98 49.6020-Dec-07 1695.55 56.15   38.80 25.27 1.54 60.5624-Dec-07 1810.15 114.6   64.07 16.95 3.78 79.0826-Dec-07 1817.8 7.65   49.96 14.00 3.57 78.1127-Dec-07 1802.4   15.4 49.96 14.58 3.43 77.4128-Dec-07 1796.25   6.15 49.96 9.32 5.36 84.2831-Dec-07 1769.9   26.35 49.96 15.97 3.13 75.781-Jan-08 1746.85   23.05 59.47 17.74 3.35 77.032-Jan-08 1748.3 1.45   41.23 17.74 2.32 69.923-Jan-08 1709.05   39.25 4.55 22.04 0.21 17.114-Jan-08 1694.9   14.15 1.45 20.73 0.07 6.547-Jan-08 1636.85   58.05 1.45 27.83 0.05 4.958-Jan-08 1662.25 25.4   13.43 32.17 0.42 29.449-Jan-08 1652.95   9.3 13.43 28.76 0.47 31.8210-Jan-08 1602.55   50.4 13.43 34.23 0.39 28.1711-Jan-08 1581.75   20.8 25.40 31.99 0.79 44.2614-Jan-08 1529.5   52.25 25.40 34.16 0.74 42.6515-Jan-08 1502.1   27.4 25.40 36.37 0.70 41.1216-Jan-08 1495.3   6.8 25.40 27.83 0.91 47.7217-Jan-08 1490.4   4.9 0.00 24.55 0.00 0.0018-Jan-08 1468.4   22 0.00 26.36 0.00 0.0021-Jan-08 1391.1   77.3 0.00 30.21 0.00 0.0022-Jan-08 1380.9   10.2 0.00 28.69 0.00 0.0023-Jan-08 1422 41.1   41.10 24.77 1.66 62.4024-Jan-08 1422.55 0.55   20.82 24.24 0.86 46.2125-Jan-08 1519.85 97.3   46.32 28.60 1.62 61.8228-Jan-08 1446.35   73.5 46.32 45.75 1.01 50.3129-Jan-08 1492.6 46.25   46.30 53.67 0.86 46.32

____________________________________________________________ BABASAB PATIL 74

Page 75: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

30-Jan-08 1493.25 0.65   37.17 41.85 0.89 47.0431-Jan-08 1499.05 5.8   31.94 73.50 0.43 30.291-Feb-08 1594.6 95.55   41.02 73.50 0.56 35.824-Feb-08 1640.05 45.45   48.50 73.50 0.66 39.755-Feb-08 1609.3   30.75 38.74 52.13 0.74 42.636-Feb-08 1509.95   99.35 38.74 65.05 0.60 37.337-Feb-08 1482.35   27.6 36.86 52.57 0.70 41.228-Feb-08 1552.35 70   54.20 52.57 1.03 50.7611-Feb-08 1557.95 5.6   54.15 52.57 1.03 50.7412-Feb-08 1545.25   12.7 40.35 42.60 0.95 48.6413-Feb-08 1545.4 0.15   25.25 42.60 0.59 37.2114-Feb-08 1546.75 1.35   19.28 46.55 0.41 29.2815-Feb-08 1565.4 18.65   19.15 20.15 0.95 48.7318-Feb-08 1555.15   10.25 19.15 11.48 1.67 62.5319-Feb-08 1556.5 1.35   5.42 11.48 0.47 32.0820-Feb-08 1568.9 12.4   6.78 11.48 0.59 37.1421-Feb-08 1627.55 58.65   15.43 10.25 1.50 60.0822-Feb-08 1580.65   46.9 18.48 28.57 0.65 39.2725-Feb-08 1615.15 34.5   25.11 28.57 0.88 46.7726-Feb-08 1662.85 47.7   30.92 28.57 1.08 51.9727-Feb-08 1618.9   43.95 30.92 45.42 0.68 40.5028-Feb-08 1599.35   19.55 38.31 36.80 1.04 51.0129-Feb-08 1548.2   51.15 46.95 40.39 1.16 53.763-Mar-08 1467.9 80.3 41.10 48.37 0.85 45.944-Mar-08 1419.05 48.85 41.10 48.76 0.84 45.745-Mar-08 1478.8 59.75 53.72 48.76 1.10 52.427-Mar-08 1430.55 48.25 59.75 48.68 1.23 55.1110-Mar-08 1431.1 0.55 30.15 49.62 0.61 37.8011-Mar-08 1426.35 4.75 30.15 46.66 0.65 39.2512-Mar-08 1385.15 41.2 30.15 44.67 0.67 40.3013-Mar-08 1337.7 47.45 30.15 38.10 0.79 44.1814-Mar-08 1370.2 32.5 30.93 35.41 0.87 46.6217-Mar-08 1337.8 32.4 16.53 34.81 0.47 32.1918-Mar-08 1314.6 23.2 16.53 29.80 0.55 35.6719-Mar-08 1343.7 29.1 30.80 29.80 1.03 50.8324-Mar-08 1360.45 16.75 26.12 36.06 0.72 42.00

25-Mar-08 1492.3131.85 52.55 34.35 1.53 60.47

26-Mar-08 1499.5 7.2 43.48 27.80 1.56 61.0027-Mar-08 1441.75 57.75 46.23 37.78 1.22 55.0228-Mar-08 1521.2 79.45 52.87 40.48 1.31 56.6431-Mar-08 1439.9 81.3 52.87 69.53 0.76 43.20

____________________________________________________________ BABASAB PATIL 75

Page 76: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF INFOSYS

Infosys Technologies Ltd

CL PRC ROC

2-Apr-071922.95  

3-Apr-071964.65  

4-Apr-07 1994.3  5-Apr-07 1992.3  

9-Apr-072047.55  

10-Apr-071998.85  

11-Apr-071996.25 3.81

12-Apr-072045.85 4.13

13-Apr-07 2086.9 4.6416-Apr-07 2128.7 6.85

17-Apr-072082.75 1.72

18-Apr-07 2076.3 3.8719-Apr-07 2039.9 2.1920-Apr-07 2055.1 0.45

23-Apr-072069.25 -0.85

24-Apr-07 2057.9 -3.3325-Apr-07 2018.5 -3.08

26-Apr-072018.85 -2.77

27-Apr-072005.15 -1.70

30-Apr-072050.85 -0.21

3-May-072081.65 0.60

4-May-07 2071.9 0.68

7-May-072041.85 1.16

8-May-072002.25 -0.82

9-May-07 1980.6 -1.2210-May-07 1974.2 -3.7411-May-07 2000.6 -3.8914-May-07 2001.9 -3.38

15-May-071973.45 -3.35

16-May-07 1951.7 -2.5217-May-07 1983.5 0.1518-May-07 1981.9 0.3921-May-07 1960.4 -2.01

22-May-071946.75 -2.75

23-May-07 1925.7 -2.42

____________________________________________________________ BABASAB PATIL 76

Page 77: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

524-May-07 1937 -0.7525-May-07 1985.5 0.10

28-May-071971.55 -0.52

29-May-07 1953.7 -0.34

30-May-071906.15 -2.09

31-May-07 1923.5 -0.12

1-Jun-071938.55 0.08

4-Jun-07 1916.3 -3.495-Jun-07 1943.2 -1.44

6-Jun-071938.35 -0.79

7-Jun-071957.15 2.68

8-Jun-071950.85 1.42

11-Jun-07 1979.8 2.1312-Jun-07 1989.5 3.82

13-Jun-071988.75 2.34

14-Jun-07 2019.2 4.1715-Jun-07 2009.4 2.67

18-Jun-071989.45 1.98

19-Jun-07 1956.6 -1.1720-Jun-07 1954.2 -1.77

21-Jun-071958.45 -1.52

22-Jun-07 1950.8 -3.39

25-Jun-071936.65 -3.62

26-Jun-071922.15 -3.38

27-Jun-071935.35 -1.09

28-Jun-071925.05 -1.49

29-Jun-071929.05 -1.50

2-Jul-071943.85 -0.36

3-Jul-07 1947.4 0.56

4-Jul-071931.05 0.46

5-Jul-07 1916.8 -0.96 6-Jul-07 1971.8 2.43

9-Jul-071993.75 3.35

10-Jul-07 2020.5 3.94

11-Jul-071929.65 -0.91

12-Jul-07 1922.2 -0.4613-Jul-07 1939.8 1.20

____________________________________________________________ BABASAB PATIL 77

Page 78: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

16-Jul-071935.85 -1.82

17-Jul-071938.55 -2.77

18-Jul-071944.55 -3.76

19-Jul-07 1996.5 3.46

20-Jul-071986.25 3.33

23-Jul-07 1947.8 0.4124-Jul-07 1975.1 2.03

25-Jul-071988.85 2.59

26-Jul-072034.35 4.62

27-Jul-072007.85 0.57

30-Jul-07 1986.4 0.0131-Jul-07 1975.8 1.441-Aug-07 1929.5 -2.312-Aug-07 1899.2 -4.51

3-Aug-071916.65 -5.79

6-Aug-07 1865.3 -7.10

7-Aug-071878.45 -5.43

8-Aug-071967.25 -0.43

9-Aug-071934.25 0.25

10-Aug-07 1959.9 3.2013-Aug-07 1949.9 1.7314-Aug-07 1955.4 4.8316-Aug-07 1913.1 1.84

17-Aug-071854.55 -5.73

20-Aug-07 1829.2 -5.43

21-Aug-071761.35 -10.13

22-Aug-07 1788.7 -8.27

23-Aug-071811.55 -7.36

24-Aug-07 1825.6 -4.5727-Aug-07 1847.7 -0.37

28-Aug-071880.25 2.79

29-Aug-071837.25 4.31

30-Aug-07 1865.2 4.28

31-Aug-071854.55 2.37

3-Sep-071860.65 1.92

4-Sep-07 1889.7 2.27

5-Sep-071895.05 0.79

____________________________________________________________ BABASAB PATIL 78

Page 79: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

6-Sep-07 1903.8 3.627-Sep-07 1908.5 2.3210-Sep-07 1871.5 0.9111-Sep-07 1822.8 -2.03

12-Sep-071821.85 -3.59

13-Sep-071834.25 -3.21

14-Sep-07 1837.1 -3.5017-Sep-07 1804.8 -5.43

18-Sep-071804.55 -3.58

19-Sep-07 1851.6 1.5820-Sep-07 1800.4 -1.1821-Sep-07 1825.9 -0.46

24-Sep-071763.05 -4.03

25-Sep-071771.35 -1.85

26-Sep-071825.15 1.14

27-Sep-071915.85 3.47

28-Sep-071892.75 5.13

1-Oct-071905.35 4.35

3-Oct-072001.55 13.53

4-Oct-07 1998.9 12.855-Oct-07 1982.9 8.64

8-Oct-072003.65 4.58

9-Oct-07 2047.4 8.17

10-Oct-072125.05 11.53

11-Oct-071976.85 -1.23

12-Oct-07 1929.7 -3.4615-Oct-07 1927.8 -2.78

16-Oct-071866.35 -6.85

17-Oct-07 1890.3 -7.6718-Oct-07 1890 -11.06

19-Oct-071909.65 -3.40

22-Oct-071886.75 -2.23

23-Oct-071883.45 -2.30

24-Oct-07 1844.5 -1.17

25-Oct-071837.05 -2.82

26-Oct-071848.25 -2.21

29-Oct-07 1860.6 -2.57

____________________________________________________________ BABASAB PATIL 79

Page 80: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

30-Oct-07 1854.2 -1.73

31-Oct-071837.45 -2.44

1-Nov-071873.95 1.60

2-Nov-071917.15 4.36

5-Nov-07 1854 0.31

6-Nov-071851.75 -0.48

7-Nov-07 1745.9 -5.84

8-Nov-071716.35 -6.59

9-Nov-071701.15 -9.22

12-Nov-071641.85 -14.36

13-Nov-071627.15 -12.24

14-Nov-071707.95 -7.77

15-Nov-07 1647.3 -5.6516-Nov-07 1625 -5.32

19-Nov-071619.95 -4.77

20-Nov-07 1565.7 -4.6421-Nov-07 1547.1 -4.9222-Nov-07 1531.6 -10.3323-Nov-07 1557.5 -5.45

26-Nov-071575.95 -3.02

27-Nov-071573.65 -2.86

28-Nov-07 1569.3 0.23

29-Nov-071567.25 1.30

30-Nov-07 1602.5 4.63

3-Dec-071600.35 2.75

4-Dec-07 1615.3 2.505-Dec-07 1603.5 1.90

6-Dec-071635.35 4.21

7-Dec-07 1722.3 9.8910-Dec-07 1748.7 9.1211-Dec-07 1744.3 8.99

12-Dec-071685.75 4.36

13-Dec-071659.95 3.52

14-Dec-07 1646.3 0.67

17-Dec-071624.35 -5.69

18-Dec-071617.95 -7.48

19-Dec-07 1639.4 -6.01

____________________________________________________________ BABASAB PATIL 80

Page 81: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

20-Dec-071695.55 0.58

24-Dec-071810.15 9.05

26-Dec-07 1817.8 10.4227-Dec-07 1802.4 10.96

28-Dec-071796.25 11.02

31-Dec-07 1769.9 7.96

1-Jan-081746.85 3.03

2-Jan-08 1748.3 -3.42

3-Jan-081709.05 -5.98

4-Jan-08 1694.9 -5.96

7-Jan-081636.85 -8.87

8-Jan-081662.25 -6.08

9-Jan-081652.95 -5.38

10-Jan-081602.55 -8.34

11-Jan-081581.75 -7.45

14-Jan-08 1529.5 -9.7615-Jan-08 1502.1 -8.2316-Jan-08 1495.3 -10.0417-Jan-08 1490.4 -9.8318-Jan-08 1468.4 -8.3721-Jan-08 1391.1 -12.0522-Jan-08 1380.9 -9.7223-Jan-08 1422 -5.33

24-Jan-081422.55 -4.87

25-Jan-081519.85 1.98

28-Jan-081446.35 -1.50

29-Jan-08 1492.6 7.30

30-Jan-081493.25 8.14

31-Jan-081499.05 5.42

1-Feb-08 1594.6 12.09

4-Feb-081640.05 7.91

5-Feb-08 1609.3 11.27

6-Feb-081509.95 1.16

7-Feb-081482.35 -0.73

8-Feb-081552.35 3.56

11-Feb-081557.95 -2.30

____________________________________________________________ BABASAB PATIL 81

Page 82: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

12-Feb-081545.25 -5.78

13-Feb-08 1545.4 -3.97

14-Feb-081546.75 2.44

15-Feb-08 1565.4 5.60

18-Feb-081555.15 0.18

19-Feb-08 1556.5 -0.0920-Feb-08 1568.9 1.53

21-Feb-081627.55 5.32

22-Feb-081580.65 2.19

25-Feb-081615.15 3.18

26-Feb-081662.85 6.93

27-Feb-08 1618.9 4.01

28-Feb-081599.35 1.94

29-Feb-08 1548.2 -4.883-Mar-08 1467.9 -7.13

4-Mar-081419.05 -12.14

5-Mar-08 1478.8 -11.07

7-Mar-081430.55 -11.63

10-Mar-08 1431.1 -10.52

11-Mar-081426.35 -7.87

12-Mar-081385.15 -5.64

13-Mar-08 1337.7 -5.7314-Mar-08 1370.2 -7.3417-Mar-08 1337.8 -6.4818-Mar-08 1314.6 -8.1419-Mar-08 1343.7 -5.79

24-Mar-081360.45 -1.78

25-Mar-08 1492.3 11.5626-Mar-08 1499.5 9.44

27-Mar-081441.75 7.77

28-Mar-08 1521.2 15.7231-Mar-08 1439.9 7.16

____________________________________________________________ BABASAB PATIL 82

Page 83: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

TECHNICAL ANALYSIS OF WIPRO

12 DAYS & 24 DAYS MOVING AVERAGE OF WIPRO

WIPRO Closing Price

12 Days 24 Days

2-Apr-07 518.753-Apr-07 534.254-Apr-07 549.355-Apr-07 552.69-Apr-07 560.810-Apr-07 547.711-Apr-07 547.2512-Apr-07 540.4513-Apr-07 567.6516-Apr-07 585.717-Apr-07 573.9518-Apr-07 585.85 555.3619-Apr-07 575.85 560.1220-Apr-07 571.25 563.2023-Apr-07 567.4 564.7024-Apr-07 554.6 564.8725-Apr-07 555.8 564.4526-Apr-07 563.65 565.7827-Apr-07 565.75 567.3330-Apr-07 571.6 569.923-May-07 570.9 570.194-May-07 567.3 568.667-May-07 552.6 566.888-May-07 547.35 563.67 559.519-May-07 550.45 561.55 560.8410-May-07 552.75 560.01 561.6111-May-07 545.8 558.21 561.4614-May-07 544.05 557.33 561.1015-May-07 535.05 555.60 560.0316-May-07 540.55 553.68 559.7317-May-07 546.85 552.10 559.7118-May-07 543.3 549.75 559.8321-May-07 534.1 546.68 558.4422-May-07 532.2 543.75 556.2123-May-07 534.95 542.28 554.5824-May-07 532.4 541.04 552.3525-May-07 543.4 540.45 551.0028-May-07 539.7 539.36 549.6929-May-07 540.6 538.93 548.5730-May-07 536.55 538.30 547.8231-May-07 543.7 539.03 547.311-Jun-07 544.25 539.33 546.514-Jun-07 533.9 538.25 545.185-Jun-07 535.25 537.58 543.666-Jun-07 532.25 537.43 542.057-Jun-07 545.4 538.53 541.148-Jun-07 547.6 539.58 540.9311-Jun-07 542.8 540.45 540.7412-Jun-07 538.7 540.06 540.2513-Jun-07 530.45 539.29 539.33

____________________________________________________________ BABASAB PATIL 83

Page 84: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Jun-07 532.4 538.60 538.7715-Jun-07 530.5 538.10 538.2018-Jun-07 523.05 536.38 537.7019-Jun-07 521.55 534.49 536.9120-Jun-07 522.85 533.57 535.9121-Jun-07 524.8 532.70 535.1422-Jun-07 517.3 531.45 534.4425-Jun-07 515.55 528.96 533.7526-Jun-07 508.75 525.73 532.6527-Jun-07 509.9 522.98 531.7228-Jun-07 514.8 520.99 530.5329-Jun-07 518.45 519.99 529.642-Jul-07 512.7 518.35 528.483-Jul-07 515.15 517.07 527.594-Jul-07 508.75 515.88 526.135-Jul-07 504.65 514.47 524.486-Jul-07 519.6 514.20 523.889-Jul-07 525.05 514.22 523.4610-Jul-07 519.3 514.39 522.9211-Jul-07 511.15 514.02 521.4912-Jul-07 511.55 514.25 519.9913-Jul-07 512.55 514.48 518.7316-Jul-07 502.45 513.45 517.2217-Jul-07 505.35 512.35 516.1718-Jul-07 506.35 511.83 515.0919-Jul-07 505.15 510.99 514.0320-Jul-07 505.2 510.70 513.2923-Jul-07 509 511.06 512.7624-Jul-07 505.5 509.88 512.0425-Jul-07 498.85 507.70 510.9626-Jul-07 514 507.26 510.8227-Jul-07 492.7 505.72 509.8730-Jul-07 493.55 504.22 509.2431-Jul-07 497.35 502.95 508.711-Aug-07 476.55 500.80 507.122-Aug-07 462.15 497.20 504.783-Aug-07 470.2 494.18 503.006-Aug-07 457.4 490.20 500.607-Aug-07 459.7 486.41 498.558-Aug-07 476.75 483.73 497.399-Aug-07 477.7 481.41 495.6510-Aug-07 480.25 479.86 493.7813-Aug-07 480.2 477.04 492.1514-Aug-07 481.45 476.10 490.9116-Aug-07 469.45 474.10 489.1617-Aug-07 474.4 472.18 487.5720-Aug-07 469.25 471.58 486.1921-Aug-07 446.85 470.30 483.7522-Aug-07 453.3 468.89 481.5423-Aug-07 448.7 468.17 479.1924-Aug-07 457.4 467.98 477.1927-Aug-07 464.4 466.95 475.3428-Aug-07 466.75 466.03 473.7229-Aug-07 470 465.18 472.5230-Aug-07 477.7 464.97 471.01

____________________________________________________________ BABASAB PATIL 84

Page 85: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

31-Aug-07 482.35 465.05 470.583-Sep-07 474.75 465.49 469.794-Sep-07 465.95 464.78 468.485-Sep-07 472.85 465.08 468.336-Sep-07 478 467.68 468.997-Sep-07 478.25 469.76 469.3310-Sep-07 465.1 471.13 469.6511-Sep-07 455.45 470.96 469.4712-Sep-07 452.55 469.98 468.4613-Sep-07 456.4 469.11 467.5714-Sep-07 450.25 467.47 466.3217-Sep-07 449.4 465.11 465.0418-Sep-07 444.2 461.93 463.4919-Sep-07 448.45 459.74 462.6120-Sep-07 434.7 457.13 460.9621-Sep-07 438.7 454.29 459.6924-Sep-07 443.3 451.40 459.5425-Sep-07 435.9 447.87 458.8126-Sep-07 454.4 446.98 459.0527-Sep-07 460.4 447.39 459.1828-Sep-07 460.25 448.03 459.001-Oct-07 454.25 447.85 458.483-Oct-07 470.4 449.53 458.504-Oct-07 462.05 450.58 457.855-Oct-07 460.15 451.91 456.928-Oct-07 469.5 453.67 456.709-Oct-07 489 458.19 457.6610-Oct-07 503.3 463.58 458.9311-Oct-07 488 467.30 459.3512-Oct-07 486.8 471.54 459.7015-Oct-07 492.2 474.69 460.8316-Oct-07 485.75 476.80 462.1017-Oct-07 488.3 479.14 463.5918-Oct-07 493.8 482.44 465.1419-Oct-07 499.95 484.90 467.2122-Oct-07 495.25 487.67 469.1323-Oct-07 492.55 490.37 471.1424-Oct-07 486.3 491.77 472.7225-Oct-07 496.9 492.43 475.3126-Oct-07 499.85 492.14 477.8629-Oct-07 509.85 493.96 480.6330-Oct-07 510.65 495.95 483.7431-Oct-07 507.15 497.19 485.941-Nov-07 499.4 498.33 487.572-Nov-07 491.8 498.62 488.885-Nov-07 484.75 497.87 490.156-Nov-07 486.9 496.78 490.847-Nov-07 477.25 495.28 491.478-Nov-07 471.55 493.53 491.959-Nov-07 459.5 491.30 491.5312-Nov-07 456.4 487.92 490.1713-Nov-07 442.15 483.11 487.6314-Nov-07 472.95 480.04 487.0015-Nov-07 457.2 475.58 485.7616-Nov-07 460.85 471.73 484.46

____________________________________________________________ BABASAB PATIL 85

Page 86: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

19-Nov-07 458.65 468.33 483.3320-Nov-07 448.3 464.70 481.6621-Nov-07 436.75 460.70 479.2922-Nov-07 437.85 456.62 476.7023-Nov-07 441.45 453.63 474.4626-Nov-07 453.15 452.10 472.8127-Nov-07 457.8 451.96 471.6328-Nov-07 449.75 451.40 469.6629-Nov-07 448.1 451.90 467.5130-Nov-07 460.65 450.88 465.463-Dec-07 492.1 453.78 464.684-Dec-07 498.2 456.90 464.315-Dec-07 498.8 460.24 464.296-Dec-07 495.1 464.14 464.427-Dec-07 503.2 469.68 465.1910-Dec-07 501.35 474.97 465.7911-Dec-07 505.65 480.32 466.9812-Dec-07 507.5 484.85 468.4813-Dec-07 500.45 488.40 470.1814-Dec-07 497.2 492.36 471.8817-Dec-07 488.15 495.70 473.8018-Dec-07 483.85 497.63 474.2519-Dec-07 483.75 496.93 475.3620-Dec-07 493.35 496.53 476.7124-Dec-07 535 499.55 479.8926-Dec-07 535.55 502.92 483.5327-Dec-07 549.5 506.78 488.2328-Dec-07 527.85 508.98 491.9831-Dec-07 525.65 510.65 495.491-Jan-08 516 511.36 498.102-Jan-08 511.35 512.27 500.343-Jan-08 496.2 512.18 502.274-Jan-08 496.65 512.89 504.297-Jan-08 482.45 512.78 505.208-Jan-08 489.4 513.25 505.099-Jan-08 490.8 513.03 504.7810-Jan-08 487.7 509.09 504.3211-Jan-08 488.85 505.20 504.0614-Jan-08 461.15 497.84 502.3115-Jan-08 460.1 492.19 500.5916-Jan-08 456.3 486.41 498.5317-Jan-08 462.55 481.96 496.6618-Jan-08 454.35 477.21 494.7421-Jan-08 439.5 472.48 492.3322-Jan-08 431.95 467.09 489.9923-Jan-08 431.4 462.84 487.8124-Jan-08 411.1 456.31 484.7825-Jan-08 431.95 451.41 482.2228-Jan-08 408.4 444.80 476.9529-Jan-08 412.5 438.44 471.8230-Jan-08 413.65 434.48 466.1631-Jan-08 422.75 431.37 461.781-Feb-08 440.05 430.01 458.214-Feb-08 464.5 430.18 456.075-Feb-08 455.65 430.28 453.75

____________________________________________________________ BABASAB PATIL 86

Page 87: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

6-Feb-08 424.95 429.07 450.787-Feb-08 410.35 427.27 447.188-Feb-08 422.1 426.50 444.6711-Feb-08 422.65 427.46 441.8912-Feb-08 423.15 426.73 439.0713-Feb-08 410 426.86 435.8314-Feb-08 416.35 427.18 432.8115-Feb-08 420.6 427.76 431.1218-Feb-08 415.05 427.12 429.2419-Feb-08 412.35 424.81 427.4120-Feb-08 411 420.35 425.2621-Feb-08 431.7 418.35 424.3222-Feb-08 426.8 418.51 423.7925-Feb-08 439.4 420.93 424.1026-Feb-08 445.25 422.86 424.6827-Feb-08 440.65 424.36 425.9128-Feb-08 447.4 426.38 426.5529-Feb-08 437.05 428.63 427.753-Mar-08 421.45 429.06 428.124-Mar-08 419.6 428.98 428.375-Mar-08 436.9 430.80 428.967-Mar-08 416.8 431.17 427.9910-Mar-08 402.5 430.46 425.4011-Mar-08 393.2 427.25 422.8012-Mar-08 389.95 424.18 421.3413-Mar-08 365.85 418.05 419.4914-Mar-08 369.3 411.72 417.2917-Mar-08 354.1 404.51 414.4318-Mar-08 359.3 397.17 411.7719-Mar-08 378.4 392.28 410.4624-Mar-08 398.7 390.38 409.7225-Mar-08 436 391.75 410.3626-Mar-08 428.7 391.07 410.9327-Mar-08 429.45 392.12 411.6428-Mar-08 453.5 396.37 413.4131-Mar-08 432.1 399.61 413.43

RELATIVE STRENGTH INDEX OF WIPRO

WIPROClosing Price

Gain Loss

Average Gain

Average Loss RS RSI

2-Apr-07 518.75            3-Apr-07 534.25 15.5          4-Apr-07 549.35 15.1          5-Apr-07 552.6 3.25          9-Apr-07 560.8 8.2          

____________________________________________________________ BABASAB PATIL 87

Page 88: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

10-Apr-07 547.7   13.1        11-Apr-07 547.25   0.45 10.51 6.77 1.55 60.8112-Apr-07 540.45   6.8 10.51 6.78 1.55 60.7813-Apr-07 567.65 27.2   13.44 6.78 1.98 66.45

16-Apr-07 585.718.05   14.18 6.78 2.09 67.63

17-Apr-07 573.95   11.75 17.82 8.02 2.22 68.9518-Apr-07 585.85 11.9   19.05 8.02 2.37 70.3619-Apr-07 575.85   10 19.05 7.25 2.63 72.4320-Apr-07 571.25   4.6 19.05 8.29 2.30 69.6823-Apr-07 567.4   3.85 19.05 7.55 2.52 71.6224-Apr-07 554.6   12.8 14.98 8.60 1.74 63.5225-Apr-07 555.8 1.2   6.55 8.60 0.76 43.2326-Apr-07 563.65 7.85   6.98 7.81 0.89 47.2027-Apr-07 565.75 2.1   3.72 7.81 0.48 32.2430-Apr-07 571.6 5.85   4.25 7.08 0.60 37.503-May-07 570.9   0.7 4.25 5.78 0.73 42.364-May-07 567.3   3.6 4.25 5.70 0.75 42.717-May-07 552.6   14.7 4.25 6.33 0.67 40.168-May-07 547.35   5.25 5.27 6.06 0.87 46.499-May-07 550.45 3.1   3.68 6.06 0.61 37.7910-May-07 552.75 2.3   3.75 6.06 0.62 38.2211-May-07 545.8   6.95 2.70 6.24 0.43 30.2014-May-07 544.05   1.75 2.70 6.45 0.42 29.5115-May-07 535.05   9 2.70 7.53 0.36 26.3916-May-07 540.55 5.5   3.63 5.74 0.63 38.7717-May-07 546.85 6.3   4.30 5.90 0.73 42.1618-May-07 543.3   3.55 4.70 5.31 0.88 46.9421-May-07 534.1   9.2 5.90 6.09 0.97 49.2122-May-07 532.2   1.9 5.90 5.08 1.16 53.7323-May-07 534.95 2.75   4.85 5.91 0.82 45.0624-May-07 532.4   2.55 4.85 4.30 1.13 53.0125-May-07 543.4 11   6.68 4.30 1.55 60.8528-May-07 539.7   3.7 6.88 4.18 1.64 62.1929-May-07 540.6 0.9   4.88 4.34 1.13 52.9630-May-07 536.55   4.05 4.88 3.05 1.60 61.5531-May-07 543.7 7.15   5.45 3.43 1.59 61.351-Jun-07 544.25 0.55   4.90 3.43 1.43 58.804-Jun-07 533.9   10.35 4.90 6.03 0.81 44.825-Jun-07 535.25 1.35   2.49 6.03 0.41 29.19

____________________________________________________________ BABASAB PATIL 88

Page 89: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

6-Jun-07 532.25   3 2.49 5.80 0.43 30.02

7-Jun-07 545.413.15   5.55 5.80 0.96 48.90

8-Jun-07 547.6 2.2   4.88 6.68 0.73 42.2311-Jun-07 542.8   4.8 4.31 6.05 0.71 41.6212-Jun-07 538.7   4.1 5.57 5.56 1.00 50.0213-Jun-07 530.45   8.25 5.57 5.04 1.11 52.5014-Jun-07 532.4 1.95   5.77 5.04 1.14 53.3715-Jun-07 530.5   1.9 5.77 4.76 1.21 54.7718-Jun-07 523.05   7.45 2.07 5.30 0.39 28.1419-Jun-07 521.55   1.5 1.95 4.67 0.42 29.4720-Jun-07 522.85 1.3   1.63 4.64 0.35 25.9421-Jun-07 524.8 1.95   1.73 4.78 0.36 26.6322-Jun-07 517.3   7.5 1.73 4.59 0.38 27.4225-Jun-07 515.55   1.75 1.63 4.02 0.40 28.7926-Jun-07 508.75   6.8 1.63 5.00 0.33 24.5327-Jun-07 509.9 1.15   1.47 4.39 0.33 25.0528-Jun-07 514.8 4.9   2.32 5.35 0.43 30.2929-Jun-07 518.45 3.65   2.91 5.35 0.54 35.252-Jul-07 512.7   5.75 3.23 5.45 0.59 37.243-Jul-07 515.15 2.45   3.04 4.77 0.64 38.924-Jul-07 508.75   6.4 3.04 6.32 0.48 32.475-Jul-07 504.65   4.1 3.04 5.42 0.56 35.93

6-Jul-07 519.614.95   6.49 5.42 1.20 54.50

9-Jul-07 525.05 5.45   6.63 5.42 1.22 55.0210-Jul-07 519.3   5.75 7.62 5.50 1.38 58.0711-Jul-07 511.15   8.15 7.62 6.10 1.25 55.5312-Jul-07 511.55 0.4   6.93 6.10 1.14 53.2013-Jul-07 512.55 1   5.45 6.00 0.91 47.6016-Jul-07 502.45   10.1 5.45 8.00 0.68 40.5217-Jul-07 505.35 2.9   2.44 8.00 0.30 23.3518-Jul-07 506.35 1   1.33 8.00 0.17 14.2119-Jul-07 505.15   1.2 1.33 6.48 0.20 16.9720-Jul-07 505.2 0.05   1.07 5.65 0.19 15.9223-Jul-07 509 3.8   1.75 5.65 0.31 23.6524-Jul-07 505.5   3.5 1.94 4.93 0.39 28.2025-Jul-07 498.85   6.65 1.94 3.78 0.51 33.87

26-Jul-07 51415.15   5.00 3.78 1.32 56.93

27-Jul-07 492.7   21.3 6.33 16.33 0.39 27.9530-Jul-07 493.55 0.85   4.96 10.48 0.47 32.1331-Jul-07 497.35 3.8   5.90 10.48 0.56 36.011-Aug-07 476.55   20.8 6.60 13.06 0.51 33.572-Aug-07 462.15   14.4 6.60 15.79 0.42 29.483-Aug-07 470.2 8.05   6.96 18.83 0.37 26.996-Aug-07 457.4   12.8 4.23 17.33 0.24 19.647-Aug-07 459.7 2.3   3.75 16.00 0.23 18.99

8-Aug-07 476.7517.05   7.80 16.00 0.49 32.77

9-Aug-07 477.7 0.95   7.09 16.00 0.44 30.7010-Aug-07 480.25 2.55   6.18 13.60 0.45 31.2413-Aug-07 480.2   0.05 6.18 6.43 0.96 49.03

____________________________________________________________ BABASAB PATIL 89

Page 90: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Aug-07 481.45 1.25   4.82 6.43 0.75 42.8616-Aug-07 469.45   12 4.82 6.03 0.80 44.4417-Aug-07 474.4 4.95   5.35 6.03 0.89 47.0320-Aug-07 469.25   5.15 2.43 5.73 0.42 29.7221-Aug-07 446.85   22.4 2.92 9.90 0.29 22.7622-Aug-07 453.3 6.45   4.22 9.90 0.43 29.8723-Aug-07 448.7   4.6 4.22 11.04 0.38 27.6424-Aug-07 457.4 8.7   6.70 11.04 0.61 37.7727-Aug-07 464.4 7   6.77 10.72 0.63 38.7328-Aug-07 466.75 2.35   6.13 10.72 0.57 36.3729-Aug-07 470 3.25   5.55 13.50 0.41 29.1330-Aug-07 477.7 7.7   5.91 4.60 1.28 56.2331-Aug-07 482.35 4.65   5.61 4.60 1.22 54.943-Sep-07 474.75   7.6 5.61 7.60 0.74 42.464-Sep-07 465.95   8.8 4.99 8.20 0.61 37.835-Sep-07 472.85 6.9   4.97 8.20 0.61 37.746-Sep-07 478 5.15   5.53 8.20 0.67 40.287-Sep-07 478.25 0.25   4.93 8.20 0.60 37.5510-Sep-07 465.1   13.15 4.24 9.85 0.43 30.0811-Sep-07 455.45   9.65 4.10 9.80 0.42 29.5012-Sep-07 452.55   2.9 4.10 11.50 0.36 26.2813-Sep-07 456.4 3.85   4.04 8.57 0.47 32.0314-Sep-07 450.25   6.15 3.08 7.96 0.39 27.9117-Sep-07 449.4   0.85 2.05 6.54 0.31 23.8618-Sep-07 444.2   5.2 3.85 6.32 0.61 37.8719-Sep-07 448.45 4.25   4.05 4.95 0.82 45.0020-Sep-07 434.7   13.75 4.05 5.77 0.70 41.2421-Sep-07 438.7 4   4.03 6.49 0.62 38.3424-Sep-07 443.3 4.6   4.28 12.98 0.33 24.8225-Sep-07 435.9   7.4 4.28 6.80 0.63 38.6526-Sep-07 454.4 18.5   7.84 13.18 0.59 37.3027-Sep-07 460.4 6   7.47 10.58 0.71 41.4028-Sep-07 460.25   0.15 8.28 10.65 0.78 43.731-Oct-07 454.25   6 8.28 6.78 1.22 54.98

3-Oct-07 470.416.15   11.31 6.78 1.67 62.54

4-Oct-07 462.05   8.35 13.55 5.47 2.47 71.225-Oct-07 460.15   1.9 13.55 4.10 3.30 76.778-Oct-07 469.5 9.35   10.50 4.10 2.56 71.929-Oct-07 489 19.5   15.00 4.10 3.66 78.5310-Oct-07 503.3 14.3   14.83 5.42 2.74 73.2411-Oct-07 488   15.3 14.83 8.52 1.74 63.5112-Oct-07 486.8   1.2 14.38 6.69 2.15 68.26

____________________________________________________________ BABASAB PATIL 90

Page 91: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

15-Oct-07 492.2 5.4   12.14 6.13 1.98 66.4316-Oct-07 485.75   6.45 12.14 7.65 1.59 61.3417-Oct-07 488.3 2.55   10.44 7.65 1.36 57.7118-Oct-07 493.8 5.5   6.94 7.65 0.91 47.5619-Oct-07 499.95 6.15   4.90 7.65 0.64 39.0422-Oct-07 495.25   4.7 4.90 4.12 1.19 54.3423-Oct-07 492.55   2.7 4.90 4.62 1.06 51.4924-Oct-07 486.3   6.25 4.73 5.02 0.94 48.5125-Oct-07 496.9 10.6   6.20 4.55 1.36 57.6726-Oct-07 499.85 2.95   6.30 4.55 1.38 58.0629-Oct-07 509.85 10   7.43 4.55 1.63 62.0030-Oct-07 510.65 0.8   6.09 4.55 1.34 57.2331-Oct-07 507.15   3.5 6.09 4.15 1.47 59.461-Nov-07 499.4   7.75 6.09 5.83 1.04 51.072-Nov-07 491.8   7.6 6.09 6.28 0.97 49.215-Nov-07 484.75   7.05 4.58 6.47 0.71 41.456-Nov-07 486.9 2.15   4.32 6.47 0.67 40.007-Nov-07 477.25   9.65 1.47 7.11 0.21 17.188-Nov-07 471.55   5.7 2.15 6.87 0.31 23.829-Nov-07 459.5   12.05 2.15 8.30 0.26 20.5712-Nov-07 456.4   3.1 2.15 7.53 0.29 22.2213-Nov-07 442.15   14.25 2.15 8.63 0.25 19.9414-Nov-07 472.95 30.8   16.48 8.95 1.84 64.8015-Nov-07 457.2   15.75 30.80 10.08 3.05 75.3416-Nov-07 460.85 3.65   17.23 10.17 1.69 62.8819-Nov-07 458.65   2.2 17.23 9.47 1.82 64.5320-Nov-07 448.3   10.35 17.23 9.13 1.89 65.3621-Nov-07 436.75   11.55 17.23 10.82 1.59 61.4222-Nov-07 437.85 1.1   11.85 9.96 1.19 54.3323-Nov-07 441.45 3.6   2.78 9.96 0.28 21.8426-Nov-07 453.15 11.7   5.01 8.03 0.62 38.4227-Nov-07 457.8 4.65   5.26 8.03 0.66 39.5828-Nov-07 449.75   8.05 5.26 9.98 0.53 34.5229-Nov-07 448.1   1.65 5.26 7.08 0.74 42.6330-Nov-07 460.65

12.55   6.72 4.85 1.39 58.08

3-Dec-07 492.131.45   12.79 4.85 2.64 72.51

4-Dec-07 498.2 6.1   13.29 4.85 2.74 73.265-Dec-07 498.8 0.6   11.07 4.85 2.28 69.546-Dec-07 495.1   3.7 12.68 4.47 2.84 73.947-Dec-07 503.2 8.1   11.76 2.67 4.40 81.47

____________________________________________________________ BABASAB PATIL 91

Page 92: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

10-Dec-07 501.35   1.85 11.76 2.77 4.24 80.9111-Dec-07 505.65 4.3   10.11 2.77 3.64 78.4612-Dec-07 507.5 1.85   4.19 2.77 1.51 60.1613-Dec-07 500.45   7.05 3.71 4.20 0.88 46.9214-Dec-07 497.2   3.25 4.75 3.96 1.20 54.5217-Dec-07 488.15   9.05 4.75 5.30 0.90 47.2618-Dec-07 483.85   4.3 3.07 5.10 0.60 37.6119-Dec-07 483.75   0.1 3.07 4.75 0.65 39.3020-Dec-07 493.35 9.6   5.73 4.75 1.21 54.6524-Dec-07 535

41.65   25.63 4.75 5.39 84.36

26-Dec-07 535.55 0.55   17.27 4.18 4.14 80.5327-Dec-07 549.5

13.95   16.44 4.48 3.67 78.57

28-Dec-07 527.85   21.65 16.44 8.68 1.89 65.4331-Dec-07 525.65   2.2 16.44 7.98 2.06 67.311-Jan-08 516   9.65 16.44 11.17 1.47 59.552-Jan-08 511.35   4.65 18.72 9.54 1.96 66.243-Jan-08 496.2   15.15 7.25 10.66 0.68 40.484-Jan-08 496.65 0.45   7.20 10.66 0.68 40.317-Jan-08 482.45   14.2 0.45 11.25 0.04 3.858-Jan-08 489.4 6.95   3.70 9.17 0.40 28.759-Jan-08 490.8 1.4   2.93 10.91 0.27 21.1910-Jan-08 487.7   3.1 2.93 9.28 0.32 24.0311-Jan-08 488.85 1.15   2.49 10.82 0.23 18.7014-Jan-08 461.15   27.7 2.49 15.00 0.17 14.2215-Jan-08 460.1   1.05 3.17 11.51 0.28 21.5716-Jan-08 456.3   3.8 3.17 8.91 0.36 26.2217-Jan-08 462.55 6.25   2.93 8.91 0.33 24.7618-Jan-08 454.35   8.2 3.70 8.77 0.42 29.6721-Jan-08 439.5   14.85 3.70 11.12 0.33 24.9722-Jan-08 431.95   7.55 6.25 10.53 0.59 37.2623-Jan-08 431.4   0.55 6.25 6.00 1.04 51.0224-Jan-08 411.1   20.3 6.25 9.21 0.68 40.43

25-Jan-08 431.9520.85   13.55 10.29 1.32 56.84

28-Jan-08 408.4   23.55 20.85 12.50 1.67 62.5229-Jan-08 412.5 4.1   12.48 13.36 0.93 48.2930-Jan-08 413.65 1.15   8.70 12.99 0.67 40.1231-Jan-08 422.75 9.1   8.80 14.80 0.59 37.291-Feb-08 440.05 17.3   10.50 21.93 0.48 32.38

4-Feb-08 464.524.45   12.83 23.55 0.54 35.26

5-Feb-08 455.65   8.85 11.22 16.20 0.69 40.92

____________________________________________________________ BABASAB PATIL 92

Page 93: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

6-Feb-08 424.95   30.7 11.22 19.78 0.57 36.207-Feb-08 410.35   14.6 13.00 18.05 0.72 41.87

8-Feb-08 422.111.75   15.65 18.05 0.87 46.44

11-Feb-08 422.65 0.55   13.51 18.05 0.75 42.8112-Feb-08 423.15 0.5   9.31 18.05 0.52 34.0313-Feb-08 410   13.15 4.27 16.83 0.25 20.2314-Feb-08 416.35 6.35   4.79 19.48 0.25 19.7315-Feb-08 420.6 4.25   4.68 13.88 0.34 25.2218-Feb-08 415.05   5.55 4.68 9.35 0.50 33.3619-Feb-08 412.35   2.7 2.91 7.13 0.41 28.9920-Feb-08 411   1.35 3.70 5.69 0.65 39.4121-Feb-08 431.7 20.7   10.43 5.69 1.83 64.7222-Feb-08 426.8   4.9 10.43 3.63 2.88 74.2125-Feb-08 439.4 12.6   12.52 3.63 3.45 77.5426-Feb-08 445.25 5.85   13.05 3.63 3.60 78.2627-Feb-08 440.65   4.6 13.05 3.39 3.85 79.3928-Feb-08 447.4 6.75   11.48 3.62 3.17 76.0429-Feb-08 437.05   10.35 11.48 6.62 1.73 63.433-Mar-08 421.45   15.6 8.40 8.86 0.95 48.664-Mar-08 419.6   1.85 8.40 8.10 1.04 50.915-Mar-08 436.9 17.3   9.97 8.10 1.23 55.177-Mar-08 416.8   20.1 12.03 10.50 1.15 53.3910-Mar-08 402.5   14.3 12.03 12.44 0.97 49.1511-Mar-08 393.2   9.3 17.30 11.92 1.45 59.2112-Mar-08 389.95   3.25 17.30 10.73 1.61 61.7113-Mar-08 365.85   24.1 17.30 12.15 1.42 58.7414-Mar-08 369.3 3.45   10.38 14.21 0.73 42.2017-Mar-08 354.1   15.2 3.45 14.38 0.24 19.3518-Mar-08 359.3 5.2   4.32 13.23 0.33 24.6419-Mar-08 378.4 19.1   9.25 12.96 0.71 41.6424-Mar-08 398.7 20.3   12.01 14.18 0.85 45.8625-Mar-08 436 37.3   17.07 19.65 0.87 46.4926-Mar-08 428.7   7.3 17.07 11.25 1.52 60.2827-Mar-08 429.45 0.75   16.53 11.25 1.47 59.50

28-Mar-08 453.524.05   17.78 7.30 2.44 70.90

31-Mar-08 432.1   21.4 20.30 14.35 1.41 58.59

____________________________________________________________ BABASAB PATIL 93

Page 94: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF WIPRO

WIPROClosing Price ROC

2-Apr-07 518.75  3-Apr-07 534.25  4-Apr-07 549.35  5-Apr-07 552.6  9-Apr-07 560.8  10-Apr-07 547.7  11-Apr-07 547.25 5.4912-Apr-07 540.45 1.1613-Apr-07 567.65 3.3316-Apr-07 585.7 5.9917-Apr-07 573.95 2.3418-Apr-07 585.85 6.9719-Apr-07 575.85 5.2320-Apr-07 571.25 5.7023-Apr-07 567.4 -0.0424-Apr-07 554.6 -5.3125-Apr-07 555.8 -3.1626-Apr-07 563.65 -3.7927-Apr-07 565.75 -1.7530-Apr-07 571.6 0.063-May-07 570.9 0.624-May-07 567.3 2.297-May-07 552.6 -0.588-May-07 547.35 -2.899-May-07 550.45 -2.7010-May-07 552.75 -3.3011-May-07 545.8 -4.4014-May-07 544.05 -4.1015-May-07 535.05 -3.1816-May-07 540.55 -1.2417-May-07 546.85 -0.6518-May-07 543.3 -1.7121-May-07 534.1 -2.1422-May-07 532.2 -2.1823-May-07 534.95 -0.0224-May-07 532.4 -1.5125-May-07 543.4 -0.6328-May-07 539.7 -0.6629-May- 540.6 1.22

____________________________________________________________ BABASAB PATIL 94

Page 95: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

0730-May-07 536.55 0.8231-May-07 543.7 1.641-Jun-07 544.25 2.234-Jun-07 533.9 -1.755-Jun-07 535.25 -0.826-Jun-07 532.25 -1.547-Jun-07 545.4 1.658-Jun-07 547.6 0.7211-Jun-07 542.8 -0.2712-Jun-07 538.7 0.9013-Jun-07 530.45 -0.9014-Jun-07 532.4 0.0315-Jun-07 530.5 -2.7318-Jun-07 523.05 -4.4819-Jun-07 521.55 -3.9120-Jun-07 522.85 -2.9421-Jun-07 524.8 -1.0722-Jun-07 517.3 -2.8425-Jun-07 515.55 -2.8226-Jun-07 508.75 -2.7327-Jun-07 509.9 -2.2328-Jun-07 514.8 -1.5429-Jun-07 518.45 -1.212-Jul-07 512.7 -0.893-Jul-07 515.15 -0.084-Jul-07 508.75 0.005-Jul-07 504.65 -1.036-Jul-07 519.6 0.939-Jul-07 525.05 1.2710-Jul-07 519.3 1.2911-Jul-07 511.15 -0.7812-Jul-07 511.55 0.5513-Jul-07 512.55 1.5716-Jul-07 502.45 -3.3017-Jul-07 505.35 -3.7518-Jul-07 506.35 -2.4919-Jul-07 505.15 -1.1720-Jul-07 505.2 -1.2423-Jul-07 509 -0.6924-Jul-07 505.5 0.6125-Jul-07 498.85 -1.2926-Jul-07 514 1.5127-Jul-07 492.7 -2.4630-Jul-07 493.55 -2.3131-Jul-07 497.35 -2.291-Aug-07 476.55 -5.732-Aug-07 462.15 -7.363-Aug-07 470.2 -8.526-Aug-07 457.4 -7.167-Aug-07 459.7 -6.868-Aug-07 476.75 -4.14

____________________________________________________________ BABASAB PATIL 95

Page 96: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

9-Aug-07 477.7 0.2410-Aug-07 480.25 3.9213-Aug-07 480.2 2.1314-Aug-07 481.45 5.2616-Aug-07 469.45 2.1217-Aug-07 474.4 -0.4920-Aug-07 469.25 -1.7721-Aug-07 446.85 -6.9522-Aug-07 453.3 -5.6023-Aug-07 448.7 -6.8024-Aug-07 457.4 -2.5727-Aug-07 464.4 -2.1128-Aug-07 466.75 -0.5329-Aug-07 470 5.1830-Aug-07 477.7 5.3831-Aug-07 482.35 7.503-Sep-07 474.75 3.794-Sep-07 465.95 0.335-Sep-07 472.85 1.316-Sep-07 478 1.707-Sep-07 478.25 0.1210-Sep-07 465.1 -3.5811-Sep-07 455.45 -4.0712-Sep-07 452.55 -2.8813-Sep-07 456.4 -3.4814-Sep-07 450.25 -5.8117-Sep-07 449.4 -6.0318-Sep-07 444.2 -4.4919-Sep-07 448.45 -1.5420-Sep-07 434.7 -3.9421-Sep-07 438.7 -3.8824-Sep-07 443.3 -1.5425-Sep-07 435.9 -3.0026-Sep-07 454.4 2.3027-Sep-07 460.4 2.6628-Sep-07 460.25 5.881-Oct-07 454.25 3.543-Oct-07 470.4 6.114-Oct-07 462.05 6.005-Oct-07 460.15 1.278-Oct-07 469.5 1.989-Oct-07 489 6.2510-Oct-07 503.3 10.8011-Oct-07 488 3.7412-Oct-07 486.8 5.3615-Oct-07 492.2 6.9716-Oct-07 485.75 3.4617-Oct-07 488.3 -0.1418-Oct-07 493.8 -1.8919-Oct-07 499.95 2.4522-Oct-07 495.25 1.7423-Oct-07 492.55 0.0724-Oct-07 486.3 0.1125-Oct-07 496.9 1.76

____________________________________________________________ BABASAB PATIL 96

Page 97: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

26-Oct-07 499.85 1.2329-Oct-07 509.85 1.9830-Oct-07 510.65 3.1131-Oct-07 507.15 2.961-Nov-07 499.4 2.692-Nov-07 491.8 -1.035-Nov-07 484.75 -3.026-Nov-07 486.9 -4.507-Nov-07 477.25 -6.548-Nov-07 471.55 -7.029-Nov-07 459.5 -7.9912-Nov-07 456.4 -7.2013-Nov-07 442.15 -8.7914-Nov-07 472.95 -2.8715-Nov-07 457.2 -4.2016-Nov-07 460.85 -2.2719-Nov-07 458.65 -0.1820-Nov-07 448.3 -1.7721-Nov-07 436.75 -1.2222-Nov-07 437.85 -7.4223-Nov-07 441.45 -3.4426-Nov-07 453.15 -1.6727-Nov-07 457.8 -0.1928-Nov-07 449.75 0.3229-Nov-07 448.1 2.6030-Nov-07 460.65 5.213-Dec-07 492.1 11.474-Dec-07 498.2 9.945-Dec-07 498.8 8.966-Dec-07 495.1 10.087-Dec-07 503.2 12.3010-Dec-07 501.35 8.8411-Dec-07 505.65 2.7512-Dec-07 507.5 1.8713-Dec-07 500.45 0.3314-Dec-07 497.2 0.4217-Dec-07 488.15 -2.9918-Dec-07 483.85 -3.4919-Dec-07 483.75 -4.3320-Dec-07 493.35 -2.7924-Dec-07 535 6.9026-Dec-07 535.55 7.7127-Dec-07 549.5 12.5728-Dec-07 527.85 9.0931-Dec-07 525.65 8.661-Jan-08 516 4.592-Jan-08 511.35 -4.423-Jan-08 496.2 -7.354-Jan-08 496.65 -9.627-Jan-08 482.45 -8.608-Jan-08 489.4 -6.909-Jan-08 490.8 -4.8810-Jan-08 487.7 -4.6311-Jan-08 488.85 -1.48

____________________________________________________________ BABASAB PATIL 97

Page 98: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

14-Jan-08 461.15 -7.1515-Jan-08 460.1 -4.6316-Jan-08 456.3 -6.7617-Jan-08 462.55 -5.7618-Jan-08 454.35 -6.8421-Jan-08 439.5 -10.1022-Jan-08 431.95 -6.3323-Jan-08 431.4 -6.2424-Jan-08 411.1 -9.9125-Jan-08 431.95 -6.6228-Jan-08 408.4 -10.1129-Jan-08 412.5 -6.1430-Jan-08 413.65 -4.2431-Jan-08 422.75 -2.011-Feb-08 440.05 7.044-Feb-08 464.5 7.545-Feb-08 455.65 11.576-Feb-08 424.95 3.027-Feb-08 410.35 -0.808-Feb-08 422.1 -0.1511-Feb-08 422.65 -3.9512-Feb-08 423.15 -8.9013-Feb-08 410 -10.0214-Feb-08 416.35 -2.0215-Feb-08 420.6 2.5018-Feb-08 415.05 -1.6719-Feb-08 412.35 -2.4420-Feb-08 411 -2.8721-Feb-08 431.7 5.2922-Feb-08 426.8 2.5125-Feb-08 439.4 4.4726-Feb-08 445.25 7.2827-Feb-08 440.65 6.8628-Feb-08 447.4 8.8629-Feb-08 437.05 1.243-Mar-08 421.45 -1.254-Mar-08 419.6 -4.515-Mar-08 436.9 -1.887-Mar-08 416.8 -5.4110-Mar-08 402.5 -10.0411-Mar-08 393.2 -10.0312-Mar-08 389.95 -7.4713-Mar-08 365.85 -12.8114-Mar-08 369.3 -15.4717-Mar-08 354.1 -15.0418-Mar-08 359.3 -10.7319-Mar-08 378.4 -3.7624-Mar-08 398.7 2.2425-Mar-08 436 19.1726-Mar-08 428.7 16.0827-Mar-08 429.45 21.2828-Mar-08 453.5 26.2231-Mar-08 432.1 14.19

____________________________________________________________ BABASAB PATIL 98

Page 99: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

DATA ANALYSIS AND INTERPRETATION

SHORT TERM MOVING AVERAGE OF HDFC BANK

Short Term Moving Average

800

1000

1200

1400

1600

1800

2000

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Sto

ck P

rice

closing price

12 Days

Sell Signal

Rising trend

Buy Signal

Moving averages provides buy and sell signal.

The above chart is having the price plotted as a line on a

closing price & moving averages are used along with the

price of the scrip.

Blue line indicates closing price and pink line indicates 12

days average.

Upward penetration of a falling average indicates further rise

and gives buy signal so the chart shows buy signal during

September with average value 1129.97.

Downward penetration of rising average indicates the

possibility of further fall so it shows sell signal during Jan

with average value 1688.85.

____________________________________________________________ BABASAB PATIL 99

Page 100: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

The chart is showing a rising trend channel from August to

October.

____________________________________________________________ BABASAB PATIL 100

Page 101: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

LONG TERM (24 DAYS) MOVING AVERAGE OF HDFC

BANK

Long Term Moving Average

800

1000

1200

1400

1600

1800

2000A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Sto

ck P

rice

Closing Price

24 Days

Sell Signal

Buy Point

Rising Trend

The above chart is having the price plotted as a line on a closing price.

Blue line indicates closing price and pink line indicates 24

days average.

Upward penetration of a falling average indicates further rise

and gives buy signal so the chart shows buy signal during

September with average value 1141.62.

Downward penetration of rising average indicates the

possibility of further fall so it shows sell signal during Jan

with average value 1710.19.

____________________________________________________________ BABASAB PATIL 101

Page 102: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM & LONG TERM MOVING AVERAGE OF

HDFC BANK

Short Term & Long Term mov Avg

800

1000

1200

1400

1600

1800

2000A

pr-

07

May-0

7

Jun-0

7

Jul-07

Aug-0

7

Sep-0

7

Oct-

07

Nov-0

7

Dec-0

7

Jan-0

8

Feb-0

8

Mar-

08

Days

Sto

ck P

rice

Closing Price

12 Days

24 Days

Sell Point

Buy PointSell Point

Rising Trend

The above chart is having the price plotted as a line on a

closing basis.

Blue line is closing price plotted on line chart. Pink line is 12

day’s simple moving average & yellow line is 24 days SMA.

Here during august 3rd the scrip price is falling to 1155 and

short term moving average intersect long term moving

average from above and falls below it, the sell signal is

generated & even during January the chart shows sell signal.

During September the scrip price is rising & short term

moving average intersect long term moving average from

below and falls above indicating a further rise in price, gives

a buy signal.

The chart shows rising trend from August to January.

____________________________________________________________ BABASAB PATIL 102

Page 103: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF HDFC BANK

In the above chart RSI is calculated for 7 days.

The broad rule, if RSI crosses 70 there may be downturn &

time to sell. If RSI falls below 30 it is time to buy the share.

Here in above chart green color shows sell signal & pink

color shows buy signal.

During May, September & November the RSI crosses 70 it is

time to sell.

During January & February the RSI crosses 30 so it is time to

buy.

Reverse Head & Shoulder is formed during June.

Double top is formed during 14th & 20th February.

____________________________________________________________ BABASAB PATIL 103

Page 104: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF HDFC BANK

ROC HDFCBANK

-25.00

-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

Apr-0

7

May

-07

Jun-

07

Jul-0

7

Aug-

07

Sep-

07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Pric

e

ROC

Overbought

Oversold

Left Shoulder

Head

H & S Reverse

Right Shoulder

ROC is identification of overbought and oversold region.

Black line is the rate of change for 7 days.

If the scrip’s ROC reaches the historic high values, the scrip

is in overbought region & in oversold region if it reaches

historic low value, here in above chart the scrip is in

overbought region during October & during January it is in

oversold region.

Head & Shoulder is formed during October; reverse H & S is

formed during November.

____________________________________________________________ BABASAB PATIL 104

Page 105: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM (12 DAYS) MOVING AVERAGE OF ICICI

BANK

Short Term Moving Average

600

700

800

900

1000

1100

1200

1300

1400

1500A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Sto

ck P

rice

Close Price

12 Days

Buy Point

Rising Trend

Sell Point

Sell Point

Round Bottom

Decline Trend

The above chart is having the price plotted as a line on a

closing price.

Blue line indicates closing price and pink line indicates 12

days average.

Upward penetration of a falling average indicates further rise

and gives buy signal so the chart shows buy signal during

September with average value 858.65.

Downward penetration of rising average indicates the

possibility of further fall so it shows sell signal during Jan

and September.

The chart is showing a rising trend channel from August to

November & declining trend from January to March.

Round bottom is formed from 30th April to 15th May.

____________________________________________________________ BABASAB PATIL 105

Page 106: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

LONG TERM (24 DAYS) MOVING AVERAGE OF ICICI

BANK

Long Term Moving Average

600

700

800

900

1000

1100

1200

1300

1400

1500A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Days

Sto

ck P

rice

Closing Price

24 Days

Sell Signal

Sell Signal

Buy SignalRising Trend

Round Bottom

Decline Trend

The above chart is having the price plotted as a line on a

closing price. Blue line indicates closing price and pink line

indicates 24 days average.

Upward penetration of a falling average indicates further rise

and gives buy signal so the chart shows buy signal during

September.

Downward penetration of rising average indicates the

possibility of further fall so it shows sell signal during August

& January.

The chart is showing a rising trend channel from September

to January & declining from January to March.

Round bottom is formed from 30th April to 15th May.

____________________________________________________________ BABASAB PATIL 106

Page 107: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM & LONG TERM MOVING AVERAGE OF

ICICI BANK

Short Term & Long Term Moving Average

0

200

400

600

800

1000

1200

1400

1600A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Days

Sto

ck P

rice Closing Price

12 Days

24 Days

Sell Signal

Sell Signal

Buy Point

Rising Trend Declining Trend

Round Bottom

The above chart is having the price plotted as a line on a

closing basis. Blue line is closing price plotted on line chart.

Pink line is 12 days simple moving average & yellow line is

24 days SMA.

During July & January the scrip price is falling and short term

moving average intersect long term moving average from

above and falls below it, the sell signal is generated.

The scrip price is rising from September 5, the short term

average is above the long term average & intersects from

below indicating further rise in price, gives a buy signal

during September.

The chart shows rising trend from August to November &

declining trend from January to March.

Round bottom is formed from 30th April to 15th May.

____________________________________________________________ BABASAB PATIL 107

Page 108: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF ICICI BANK

In the above chart RSI is calculated for 7 days.

The broad rule, if RSI crosses 70 there may be downturn &

time to sell. If RSI falls below 30 it is time to buy the share.

Here in above chart green color shows sell signal & pink

color shows buy signal.

During September & October the RSI crosses 70 it is better to

sell the shares.

During April, May & March the RSI crosses 30 so it is time

to buy.

Head & Shoulder is formed during June.

Chart shows double bottom during August 6 & 16th.

____________________________________________________________ BABASAB PATIL 108

Page 109: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF ICICI BANK

ROC ICICIBANK

-25.00

-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Days

Pri

ce ROC

Overbought Region

Oversold Region

H & S

v

Blue line is the rate of change for 7 days.

If the scrip’s ROC reaches the historic high values, the scrip

is in overbought region & in oversold region if it reaches

historic low value.

Here in above chart the scrip is in overbought region during

October & during March it is in oversold region.

Head & Shoulder is formed during August & September.

____________________________________________________________ BABASAB PATIL 109

Page 110: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM (12 DAYS) MOVING AVERAGE OF INFOSYS

Short Term Moving Average

1200

1300

1400

1500

1600

1700

1800

1900

2000

2100

2200

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Months

Sto

ck P

rice

Close Price

12 Days

Sell Signal

Flat Trend Channel

H & S

The above chart is having the price plotted as a line on a

closing price. Moving averages are used along with the price

of the scrip. Blue line indicates closing price and pink line

indicates 12 days average.

Downward penetration of a rising average indicates further

fall and gives sell signal so the chart shows sell signal during

October and January.

The chart shows a flat trend from May to August.

____________________________________________________________ BABASAB PATIL 110

Page 111: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

LONG TERM (24 DAYS) MOVING AVERAGE OF INFOSYS

Long Term Moving Average

1200

1300

1400

1500

1600

1700

1800

1900

2000

2100

2200

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Days

Sto

ck P

rice

Close Price

24 Days

Sell Signal

Flat trend Channel

H & S

The above chart is having the price plotted as a line on a

closing price. Moving averages are used along with the price

of the scrip. Blue line indicates closing price and pink line

indicates 24 days average.

Downward penetration of a rising average indicates further

fall and gives sell signal so the chart shows sell signal during

November and January.

The chart shows a flat trend from May to August.

____________________________________________________________ BABASAB PATIL 111

Page 112: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM & LONG TERM MOVING AVERAGE OF

INFOSYS

Short Term & Long Term Moving Average

1200

1300

1400

1500

1600

1700

1800

1900

2000

2100

2200A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Days

Sto

ck P

rice Close Price

12 Days

24 DaysFlat Trend

Sell Point

Reverse H & S

The above chart is having the price plotted as a line on a

closing basis. Blue line is closing price plotted on line chart.

Pink line is 12 days simple moving average & yellow line is

24 days SMA.

During October, January & March the scrip price is falling

and short term moving average intersect long term moving

average from above and falls below it, the sell signal is

generated.

The chart shows flat trend from April to August.

____________________________________________________________ BABASAB PATIL 112

Page 113: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF INFOSYS

In the above chart RSI is calculated for 7 days.

The broad rule, if RSI crosses 70 there may be downturn &

time to sell. If RSI falls below 30 it is time to buy the share.

Here in above chart green color shows sell signal & pink

color shows buy signal.

During June & December the RSI crosses 70 it is time to sell.

During November & January the RSI crosses 30 so it is time

to buy.

Head & Shoulder is formed during October & November.

____________________________________________________________ BABASAB PATIL 113

Page 114: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF INFOSYS

ROC Infosys

-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

Apr-0

7

May

-07

Jun-

07

Jul-0

7

Aug-

07

Sep-

07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

RO

C ROC

Overbought Region

Oversold Region

H & S

Blue line is the rate of change for 7 days.

If the scrip’s ROC reaches the historic high values, the scrip

is in overbought region & in oversold region if it reaches

historic low value.

Here in above chart the scrip is in overbought region during

March & during November it is in oversold region.

Head & Shoulder is formed during January & February.

____________________________________________________________ BABASAB PATIL 114

Page 115: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM (12 DAYS) MOVING AVERAGE OF WIPRO

Short Term Moving Average

300

350

400

450

500

550

600

650Ap

r-07

May

-07

Jun-

07

Jul-0

7

Aug-

07

Sep-

07

Oct

-07

Nov-

07

Dec-

07

Jan-

08

Feb-

08

Mar

-08

Days

Pric

e Closing Price

12 Days

Sell Signal

Declining Trend Channel

H & S

The above chart is having the price plotted as a line on a

closing price. Moving averages are used along with the price

of the scrip. Blue line indicates closing price and pink line

indicates 12 days average.

Chart shows declining trend from April to September.

Downward penetration of a rising average indicates further

fall and gives sell signal so the chart shows sell signal during

November and January.

Head & Shoulder is formed during December & January.

____________________________________________________________ BABASAB PATIL 115

Page 116: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

LONG TERM (24 DAYS) MOVING AVERAGE OF WIPRO

Long Term Moving Average

300

350

400

450

500

550

600

650A

pr-0

7

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Sto

ck P

rice Closing Price

24 Days

Sell Signal

Declining Trend Double Bottom

The above chart is having the price plotted as a line on a

closing price. Moving averages are used along with the price

of the scrip. Blue line indicates closing price and pink line

indicates 24 days average.

Chart shows declining trend from April to September.

Downward penetration of a rising average indicates further

fall and gives sell signal so the chart shows sell signal during

November and January.

____________________________________________________________ BABASAB PATIL 116

Page 117: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

SHORT TERM & LONG TERM MOVING AVERAGE

Short Term & Long Term Mov Avg

0

100

200

300

400

500

600

700Ap

r-07

May

-07

Jun-

07

Jul-0

7

Aug-

07

Sep-

07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb-

08

Mar

-08

Days

Stoc

k Pr

ice Closing Price

12 Days

24 Days

Sell Signal

Declining Trend Channel

The above chart is having the price plotted as a line on a

closing basis. Blue line is closing price plotted on line chart.

Pink line is 12 days simple moving average & yellow line is

24 days SMA.

During November, January & March the scrip price is falling

and short term moving average intersect long term moving

average from above and falls below it, the sell signal is

generated.

The chart shows declining trend from April to September.

____________________________________________________________ BABASAB PATIL 117

Page 118: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RELATIVE STRENGTH INDEX OF WIPRO

In the above chart RSI is calculated for 7 days.

The broad rule, if RSI crosses 70 there may be downturn &

time to sell. If RSI falls below 30 it is time to buy the share.

Here in above chart green color shows sell signal & pink

color shows buy signal.

During December & February the RSI crosses 70 it is time to

sell.

During July, November & January the RSI crosses 30 so it is

time to buy.

Head & Shoulder is formed during October.

Head & Shoulder is formed during October & November.

____________________________________________________________ BABASAB PATIL 118

Page 119: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RATE OF CHANGE OF WIPRO

ROC

-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

30.00

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Days

Sto

ck P

rice

ROC

Overbought Region

Oversold Region

H & S

Double Top

Black line is the rate of change for 7 days.

If the scrip’s ROC reaches the historic high values, the scrip

is in overbought region & in oversold region if it reaches

historic low value.

In above chart the scrip is in overbought region March 25 to

31st & from March 15 to 18 it is in oversold region.

During the month of September & October the chart shows

double top formation.

Head & Shoulder is formed during September.

____________________________________________________________ BABASAB PATIL 119

Page 120: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

FINDINGS:

The share prices of a company are very sensitive and may change very

rapidly (upward or downward), but we follow a systematic study, it is

possible to predict the share prices to a certain extent.

The stocks move according to some patterns, we can predict the stock

prices by identifying such patterns.

HDFC BANK

As the 12 days & 24 days simple moving average of the

HDFC Bank represents the fall of prices that is downward

trend during August & January it signs for sell signal.

The chart shows rising trend from August to December.

Relative strength index shows a buy signal for the HDFC

Bank as it has crossed 30 & reached upto zero during May &

February.

It shows sell signal during September as it has reached upto

84 points.

The ROC graph indicates that the price of the scrip HDFC

Bank is moving towards the high in the over bought region.

The chart shows reverse head & shoulder during June.

ICICI BANK

As the 12 days & 24 days simple moving average of the

ICICI Bank is falling during July & January, short term

moving average intersects long term moving average from

above and falls below it, the sell signal is generated.

The scrip price is rising from September 5, the short term

average is above the long term average & intersects from

below indicating further rise in price, gives a buy signal

during September.

____________________________________________________________ BABASAB PATIL 120

Page 121: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

The RSI graph indicates it is the right time to purchase the

scripts of ICICI Bank, as it has crossed 30 points & reached

zero during April & March.

It indicates sell signal during November as it has reached

upto 98 points.

The ROC graph of the ICICI Bank scripts prices are in the

oversold region that is it is towards the lower price & right

time to buy.

The chart shows H & S during June & double bottom during

August.

INFOSYS

The moving average graph of the INFOSYS indicates a

gaining trend as the closing price line is above the moving

average line of 12 days and 26 days so it was right time to

sell the share.

The closing price of INFOSYS shows a flat trend from April

to August.

Reverse head & shoulder are formed during November.

The relative strength index of Infosys has crossed 30 points

and reached upto zero during November & January, shows it

was right time to sell & it reached upto 90 points during

December which gives buy signal.

ROC of INFOSYS is in overbought region during October,

December & March it was right time to sell.

WIPRO

The 12 days & 24 days simple moving average of the ICICI

Bank is falling during November, January & March short

term moving average intersects long term moving average

from above and falls below it, the sell signal was generated.

The chart shows declining trend from April to September &

even from December to March.

____________________________________________________________ BABASAB PATIL 121

Page 122: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

The Relative strength Index graph indicates that it is the right

time to purchase the scripts of WIPRO, as it has crossed 30

points during July, January & February.

RSI of WIPRO shows sell signal during December which has

reached upto 84 points.

The Rate of Change chart of the WIPRO shows the script

prices are in the overbought region during March that is it is

towards the higher price & was right time to sell.

____________________________________________________________ BABASAB PATIL 122

Page 123: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

RECOMMENDATIONS:

HDFC BANK

Considering technical analysis it is better to sell the shares of HDFC Bank at

this moment.

According to moving average the closing price is declining from

January i.ie. 1571 to 1331, the short term average intersects the long

term average from above & falls below it, the sell signal is generated.

The ROC lies in the overbought region which is declining from 16.90

to 4.61 in future it may decline so better to sell the shares.

The RSI of HDFC Bank lies between 70 & 50 which may decline in

future so I recommend investors to sell the shares.

ICICI BANK

The closing price of this script is declining from 11th January with

1430 to 769 in March; the short term average intersects the long term

average from above & falls below it, so in future I recommend the

investors to sell the shares.

The ROC lies in the overbought region which is declining from 9.82 to

0.16 in future it may decline so better to sell the shares.

The RSI of these scripts lies between 60 & 50 which may decline in

future so better to sell the shares.

INFOSYS

The moving average of Infosys is volatile in nature and it has

decreased from 1662 of February to 1439 of March, the short term

average intersects the long term average from above & falls below it,

the sell signal is generated.

The ROC lies in the overbought region which is declining from 15.72

to 7.16 in future it may decline so better to sell the shares.

The RSI of INFOSYS is declining from 60 to 43 which may decline

drastically in future so better to sell the shares.

____________________________________________________________ BABASAB PATIL 123

Page 124: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

WIPRO

The moving average of Wipro has decreased from 549 of January to

432 of March; the short term average intersects the long term average

from above & falls below it, so better to sell the shares.

The ROC lies in the overbought region which is declining from 26.22

to 14.19 in future it may decline so better to sell the shares.

The RSI of INFOSYS is declining from 70 to 58 which may decline

drastically in future so better to sell the shares.

____________________________________________________________ BABASAB PATIL 124

Page 125: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

LIMITATIONS:

For doing my project I have taken into consider only three parameters.

These parameters may not be enough to predict the future price

movements.

Time period given is of only two months, which may not suffice the

required tenure to study the stock market. The time period was very

short.

I have done the technical analysis only for one year; from this data we

cannot predict prices accurately.

____________________________________________________________ BABASAB PATIL 125

Page 126: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

CONCLUSIONS:

Remember that stocks are never too high for you to begin

buying or too low to begin selling. But after the initial

transaction don’t make a second unless the first shows you a

profit.

There is only one side to the stock market and it is not the

bull side or the bear side but the right side.

Always sell what shows you a loss and keep what shows you

profit.

Technical analysis can be used, when to buy and to when to

sell the stock.

It is very helpful in determining the trend of the stock price.

____________________________________________________________ BABASAB PATIL 126

Page 127: Technical analysis of equity shares project report

IL & FS INVESTSMART SECURITIES LTD_______________________________________________________________

BIBLIOGRAPHY:

The data was collected from the list of books and websites given

below:

Security Analysis & Portfolio Management – Punithavathy pandian

– Fischer and Jordan

www.investopedia.com

www.nseindia.com

www.stockchart.com

www.moneycontrol.com

____________________________________________________________ BABASAB PATIL 127