SUMMER INTERNSHIP REPORT

ON

EQUITY RESEARCH ON FINANCIAL SERVICES

SECTOR
By

ADITYA KAKU
ENROLLMENT NO. – 24BSP0086
 SUMMER INTERNSHIP REPORT
ON

EQUITY RESEARCH ON FINANCIAL SERVICES SECTOR

By
ADITYA KAKU
ENROLLMENT NO. – 24BSP0086

A report submitted in partial fulfilment of

the requirement of
PGPM Program of
IBS Mumbai

Distribution List

Dr. Vanita Joshi Mr. Manas Thakkar

Faculty Guide Co-Founder
Certificate by the Company

I
Authorization Letter

II
Acknowledgment

III
 Table of Content

Contents Page no.

Certificate by the Company ..................................................................................................I

Authorization letter ............................................................................................................... II
Acknowledgement.............................................................................................................. III
Table of Content ................................................................................................................. IV
Executive summary ............................................................................................................ V
1. Introduction:
1.1 About Company ............................................................................................. 1
1.2 About Industry (Financial Services) .............................................................. 2
1.3 About Profile .................................................................................................. 4
2. Objectives ............................................................................................................... 5
3. Methodology ........................................................................................................... 5
4. Details of Work
4.1 Business Development of the company ......................................................... 6
4.2 Financial Planning ......................................................................................... 7
4.3 Equity Research on Financial Services sector ............................................... 10
4.4 Top 5 Companies in FS Sector in India ......................................................... 10
4.5 Technical Analysis ......................................................................................... 21
4.6 Chart Patterns ................................................................................................. 25

5. Conclusion .............................................................................................................. 26

6. Learnings ................................................................................................................ 27

7. Limitations .............................................................................................................. 28

8. Recommendations ................................................................................................... 29

Reference ............................................................................................................................ 30

IV
 Executive Summary

By examining whether stocks in the financial services sector of India are worthwhile
investments, this research aims to assess the investment possibilities within this industry.
Understanding market behavior and gaining knowledge about the feasibility of investments in
this field are the main goals. To assist investors in making wise choices, the study also
examines more general market trends and assesses different trading tactics.

A combination of technical and fundamental analysis was used to accomplish this. Both
secondary data and real-time trade observations were used to analyze market trends, investor
mood, and stock-specific characteristics. Intraday trading and portfolio diversification
methods were investigated through active use of market indicators and mentorship-based
learning to evaluate their applicability in actual market situations.

According to the study, equity analysis is essential for wise investment planning, particularly
in an industry as competitive and dynamic as financial services. It highlights how crucial it is
to determine one's risk tolerance, establish investment objectives, and use analytical
techniques to find the best trading signals. Finding possibilities and risks in the industry
required careful consideration of technical indicators, price action patterns, and
macroeconomic factors.

However, there are limitations to this study. It only analyses three companies and is restricted
to a 14-week period. Since it relies on secondary data, it cannot guarantee 100% reliability.
Access to limited data might also lead to incomplete analyses, and sometimes personal
judgment plays a role.

Despite these challenges, there have been achievements. So far, 17 demat accounts have been
opened, and I have been able to arrange a meeting with client for Mutual funds investment.

V
 1.0 Introduction

1.1 About the Company

Wealth Fincare, an Angel Broking Pvt Ltd channelized partner, offers market analysis,
training, and in-depth understanding of a range of financial products.

Wealth Fincare is a technology-driven financial services provider that offers a range of

client’s financial goods distribution under the "Angel Broking" brand, margin funding and
broking and consulting services.

With the introduction of our mobile application for broking services in 2011 and KYC
authentication and full client onboarding via electronic, the company has improved client
engagement and experience by integrating technology into all of our offerings.

Angel One is where intelligent investing and IPL excitement collide! We are honoured to be a
TATA IPL 2025 Associate Partner. With the ease of speed, safety, and dependability, Angel
One provides an all-in-one app that is trusted by more than 3 crore Indians. providing a large
range of assets and investment options, including stocks, initial public offerings (IPOs)
mutual funds, derivatives, and many more. Learn how to invest wisely with Angel One.

1
 1.2 About the Industry

Financial services generally means services rendered by banking and non-banking

inance companies regulated by the Reserve Bank of India (“RBI”), established under the
Reserve Bank of India Act, 1934, insurance companies regulated by the Insurance
Regulatory and Development Authority which is a body established under the Insurance
Regulatory and Development Authority Act, 1999 and other entities regulated by the
Securities and Exchange Board of India, which is a body established under the Securities
and Exchange Board of India Act, 1992.

Budget 2025 would play a key role in driving the country's economic growth through
enhanced credit access to the rural and underserved sectors of the economy.

The growth of the inancial services sector is an integral part of India's expanding
economy, and this is why several experts have called for a better digital lending
ecosystem to enhance credit access.
With the Union Budget presentation on February 1, the inancial services sector remains
under the spotlight. Several experts told IndiaToday.in that they will watch out for
announcements such as a better digital lending ecosystem along with an increased focus
on non-banking inancial companies (NBFCs).

2
 SWOT Analysis of Financial Service Sector

Strengths:
 India has a massive population with increasing financial literacy and access to
banking, insurance, investment, and digital finance products.

 Regulatory bodies like RBI, SEBI, IRDAI, and PFRDA ensure systemic stability and
investor protection. India leads in digital payments (e.g., UPI), with strong adoption of
mobile banking, e-wallets, and fintech innovations.

Weaknesses:
 High NPA’s in public sector affects profitability, capital adequacy, and lending ability.

 Presence of many small players without significant scale limits sector efficiency and
consolidation. Rapid digitization increases risk of fraud, hacking, and customer data
breaches.

Opportunities:
 Huge scope to onboard the unbanked and underbanked population with micro-finance,
affordable credit, and insurance.

 Rising middle class and disposable incomes create demand for SIPs, mutual funds,
and retirement products. Growing interest in sustainable finance and environmental,
social, governance (ESG) investments.

Threats:
 Frequent policy shifts can disrupt business models and increase compliance costs.

 External shocks like inflation, geopolitical issues, or global recession can affect credit
growth and investor sentiment.

3
 1.3 About Profile

 Management of the portfolio, live trading analysis at the NSE and BSE, and
establishing demat accounts for customers while working as an intern at Angel One.

 To acquire knowledge and a thorough comprehension of the insurance industry

throughout the internship.

 Opening demat accounts and interacting with customers both in person and online are
two possibilities. Establish a connection with clients, follow up with them, and help
them develop their portfolio.

 Manage the client's fortune as well as your own.

 Perform technical and fundamental analyses of the Financial Services sector.

 Doing daily 5 Intraday of the stocks of the industry allotted and also do the intraday
by researching the different sectors in the market by applying the different Strategies
of technical analysis.

 Prepare the report and PPT Presentation of the Asset Allocation where Two Scenario
were being given by the Company Guide.

4
2.0 Objectives

 To evaluate the financial health and stability of top 5 Financial Services sector stocks
through fundamental and technical analysis.

 To identify key market trends, price patterns, and trading opportunities using technical
analysis techniques.

 Business Development of Wealth Fincare.

3.0 Methodology

 The key sources will be conversations with mentors and the personal observation
approach through live share trading.

 The secondary sources will consist of the official websites of the companies, and other
websites such as Intraday Screener, Trading View, and MoneyControl.com.

 Recognize and understand the market and client needs, then manage the client's
wealth appropriately and assisting the customer in opening a Demat account.

5
 4.0 Details of work done

4.1 Business Development at Wealth Fincare

 The Business development at Wealth Fincare was aligned with tasks that were
assigned and deadlines were followed accordingly.

 The tasks included opening DEMAT accounts and pitch for insurance and schedule
meetings for the same.

 A Demat account, short for Dematerialized account, is an electronic account where

investors store their securities like shares, mutual funds, and bonds in digital form. It's
like a digital wallet for your investments, eliminating the need for physical
certificates.

 I was able to pitch for mutual fund and arranged a meeting with the client and the
company over call and successfully brought a client for the company.

 The following is the Flow chart for a Demat account opening process for Angel One

Go to Angel One
Fill out the form
official website Click on “Open
with personal
via company- Demat Account”
information
provided link

Enter OTP
Complete KYC via
received on Enter PAN and
Aadhar
registered mobile Bank details
authentication
and Email ID

Once ready, ask

Wait for account
Upload Selfie and client to login via
verification and
signature Angel One App
activation
for trading.

6
4.2 Financial Planning
 Financial planning is simply making a plan for your money to achieve your goals,
both short-term and long-term. It involves understanding your current financial
situation, setting goals, and developing a strategy to manage your income,
expenses, and investments to reach those goals.

 A financial plan will help you choose your investment wisely according to your
age, income, financial goals, and risk tolerance. You can have a
diversified investment plan to balance the risks and optimise the returns.

 An investment strategy that protects your capital is an important aspect of

financial planning. Distributing the resources in various asset classes to mitigate
possible risks and maximise returns is essential. A strong financial plan will enable
capital management so that your savings are intact even in adverse market
conditions.

 The assignment allocated to me was to make a financial plan for a person with
given situation and resources.

7
Scenario 1
 Salary – 200,000/- per month
 Age – 45 years
 Retirement - 60 years
 Planning – 15 years

Monthly Income 2,00,000 Stable Income

Household Expenses 15,000 Essential

Entertainment 5,000 Subscription & Movies

Emergency Funds 30,000 Safety, Medical Emergency

Children’s Pocket Money 2,000 For his expenses

Food (Swiggy/Zomato, etc.) 3,000 Occasional

Savings 45,000 Bank Savings/FD

Equity, Mutual Funds,

Investments 1,00,000
Bonds

Total Expenses & Investment 2,00,000 Balanced Allocation

Suggested Allocation Expected

Investment Type Risk Level
(Rs.) Returns

Equity (Stocks & ETFs) 40,000 8%-10% High

Mutual Funds (SIP Medium-

30,000 10%-12%
Mode) High

Government Bonds &

20,000 6%-7% Low
Securities

Digital Gold / REIT’s 10,000 9%-11% Medium

8
Scenario 2
 Lumpsum amount – 2,00,00,000/-
 Age – 45 years
 Planning – 15 years
 Retirement - 60 years

Particulars Amt

Lumpsum Amount 2,00,00,000

Real estate 1,50,00,000

HDFC
Insurance 10,00,000
Life / LIC / New India Assurance

Medical
Emergency Fund 8,00,000
emergency

Includes
Personal Use 6,00,000
Entertainment

For son's
10,00,000
further studies

Household
6,00,000
expenses

Equity 2,00,000

Mutual Funds 2,00,000

Commodities For Investment

4,00,000
(Gold / Silver)

RBI Bonds 2,00,000

9
4.3 Equity Research on Financial Services sector
 Equity research in the Financial Services sector in India involves analyzing companies
engaged in a wide range of financial activities, including banking, non-banking
financial companies (NBFCs), insurance, asset management, fintech, and capital
markets.

 Equity research involves analyzing companies and their financials to provide

investment recommendations—typically in the form of “Buy”, “Hold”, or “Sell”
ratings.

 Big banks and NBFCs are heavily investing in digital platforms, also increasing
collaboration between traditional players and startups, RBI and IRDAI have enhanced
their scrutiny—e.g., digital lending norms, NPA classification.

 India's financial services sector is deeply intertwined with macroeconomic conditions

such as GDP growth, inflation, interest rates, and liquidity

 As of AY 2024-25 the GDP growth, inflation, interest rates and credit growth have
affected the macro-economics of the country

4.4 These are the Top 5 Companies in the Financial Services sector as per
market capitalisation:

Sr. No. Name Market Cap (Cr.)

1 Bajaj Finance Ltd. 5,40,586.87

2 Bajaj Finserv Ltd. 3,05,305.74

3 Indian Railway Finance Corporation. 1,63,225.64

4 Jio Financial Services. 1,41,265.27

5 Power Finance Corporation Ltd. 1,34,330.64

10
 1. Bajaj Finance Ltd.
Bajaj Finance Limited (BFL) is one of India’s leading non-banking financial companies
(NBFCs), headquartered in Pune, Maharashtra. Established on March 25, 1987, as Bajaj Auto
Finance Limited, the company initially focused on providing two- and three-wheeler
financing. In 2010, it rebranded to Bajaj Finance Limited, reflecting its diversification into a
broad spectrum of financial service.

BFL's extensive distribution network spans across 3,800 towns, with 294 consumer branches
and 497 rural locations, supported by over 33,000 distribution points and 150,000+ partner
stores. The company has been at the forefront of leveraging technology to enhance customer
experience, implementing data analytics and big data tools to streamline operations and offer
innovative financial solutions.

In alignment with regulatory directives and its growth strategy, BFL's wholly-owned
subsidiary, Bajaj Housing Finance Limited, launched a successful initial public offering (IPO)
in 2024, raising $782 million. This move not only diversified BFL's funding sources but also
helped to achieve their goal of expanding its footprint in the housing finance sector

11
 SWOT analysis of Bajaj Finance Ltd.
Strengths:
 BFL holds a dominant position in the Indian NBFC sector, particularly in consumer
finance, with a diversified portfolio encompassing personal loans, consumer durables
financing, and housing finance.

 BFL has invested significantly in digital platforms, enhancing customer experience

through seamless loan processing, digital wallets, and online services, thereby
increasing operational efficiency.
 As a subsidiary of Bajaj Finserv, BFL benefits from the brand reputation, financial
backing, and strategic support of its parent company.

Weakness:

 Despite overall strong performance, BFL faces challenges in maintaining asset quality,
particularly in unsecured lending segments, which are susceptible to higher default
rates.

 A significant portion of BFL's revenue is derived from interest income, making it

vulnerable to interest rate fluctuations and monetary policy changes.

Opportunities:

 Government initiatives aimed at financial inclusion and support for NBFCs can
provide a conducive environment for BFL's growth.

 The growing adoption of digital banking and fintech solutions in India presents
opportunities for BFL to expand its digital offerings and reach underserved markets.

Threats:

 The entry of new players, including fintech startups and traditional banks expanding
into NBFC territories, increases competition, potentially impacting market share and
margins.

 Macroeconomic factors like inflation, unemployment, or economic downturns can

lead to higher default rates and reduced demand for credit.

 BFL increasingly relies on digital platforms, it faces risks related to data breaches and
cyber-attacks, which can compromise customer trust and lead to financial losses.

12
 2. Bajaj Finserv Ltd.

Bajaj Finserv Limited is a financial services company headquartered in Pune, India. In 2007,
the High Court of Judicature at Bombay approved the demerger of Bajaj Finserv Limited
(BFS) from Bajaj Auto Limited. As part of the demerger, the financial services and wind
energy businesses of Bajaj Auto Limited were transferred to Bajaj Finserv Limited (BFS).
The company is listed on The Stock Exchange, Mumbai (BSE), and the National Stock
Exchange (NSE).

With more than 20,000 employees at 1,409 locations, Bajaj Finserv Limited is considered one
of the Top 2000 Largest Public Companies in the World, according to Forbes .

The company has multiple products to offer to their clients and manage the porfolios
The company's diversified portfolio includes:

Bajaj Finance Limited (BFL)

Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance
Bajaj Finserv Health: Bajaj
Housing Finance Limited (BHFL)

13
 SWOT analysis of Bajaj Finserv Ltd.

Strength:

 Bajaj Finserv operates across lending (via Bajaj Finance), life and general insurance
(via joint ventures with Allianz), asset management, and digital financial services—
ensuring income diversification and resilience.

 As part of the Bajaj Group, it enjoys high brand recall and trust. Its subsidiaries are
among the top players in their segments

 The long-standing partnership with Allianz SE provides strong underwriting support,

global expertise, and credibility in the insurance business.

Weakness:

 As a large part of the business is tied to lending (via Bajaj Finance), profitability is
sensitive to interest rate movements and central bank policy changes.

 The NBFC segment carries inherent risk due to unsecured lending and exposure to
SMEs and consumer loans, which are more prone to defaults during downturns and
compared to global peers, Bajaj FinServ’s footprint is largely domestic, which may
limit its access to global markets and diversification opportunities.

Opportunities:

 India’s expanding financial ecosystem and rural outreach offer immense growth
potential, especially in insurance, digital finance, and asset management.

 With access to over 80 million customers (through Bajaj Finance), the company can
unlock value through cross-selling insurance, mutual funds, and other financial
products. Initiatives like PM Jan Dhan Yojana, UPI, and digital public infrastructure
support broader adoption of financial services.

Threats:

 RBI and IRDAI regulations can impact lending norms, capital adequacy, digital
lending rules, and insurance distribution, affecting business models.

 Players like Paytm, PhonePe, and even global tech firms entering the Indian market
pose a serious challenge, especially in the digital lending and insurance spaces.

 With increased digitization, the company faces exposure to cyber-attacks, data

breaches, and reputational damage if not managed properly.

14
 3. Indian Railway Finance Corporation.

Indian Railway Finance Corporation Limited (IRFC) is a prominent public sector undertaking
in India, serving as the dedicated financing arm of Indian Railways. Established on December
12, 1986, IRFC operates under the administrative control of the Ministry of Railways,
Government of India.

The primary objective of IRFC is to mobilize funds from domestic and international markets
to meet the majority of Indian Railways' Extra Budgetary Resources (EBR) requirements.
These funds are utilized for acquiring rolling stock assets, such as locomotives, passenger
coaches, and freight wagons, as well as for funding various infrastructure development
projects within the railway sector.

IRFC's consistent financial performance and strategic role in supporting one of the world's
largest railway networks underscore its importance in India's infrastructure financing
landscape.

15
SWOT Analysis of Indian Railway Finance Corporation Limited (IRFC)

Strength:
 IRFC is a wholly owned entity under the Ministry of Railways, ensuring strong
government backing and a stable operational framework.

 The company has demonstrated steady growth in net profits and profit margins, with
increasing cash flows from operations over the past two years.

Weakness:
 The company faces significant interest obligations, which can impact net profitability.

 IRFC's operations are closely tied to Indian Railways, limiting its exposure to other
revenue-generating opportunities.

Opportunities:
 Ongoing and planned investments in railway infrastructure present opportunities for
IRFC to increase its financing activities.

 Exploring financing opportunities beyond traditional railway projects can help IRFC
diversify its portfolio and reduce dependence on a single sector.

Threats:
 Alterations in government policies or regulatory frameworks can affect IRFC's
operations and financial performance.

 Emerging financial entities and alternative financing mechanisms may pose

competitive challenges to IRFC's traditional funding model.

16
 4. Jio Financial Services.

Jio Financial Services Limited (JFSL) is an Indian financial services company headquartered
in Mumbai, Maharashtra. Established in 1999 as Reliance Strategic Investments Limited, it
was initially a subsidiary of Reliance Industries Limited (RIL). In August 2023, JFSL was
demerged from RIL and listed as an independent entity on Indian stock exchanges.

In July 2023, JFSL formed a 50:50 joint venture with U.S.-based BlackRock to enter the asset
management sector, with each partner investing $150 million. In April 2024, they expanded
this collaboration to include wealth management and brokerage services, aiming to tap into
India's growing wealth market.

In May 2024, JFSL launched the JioFinance app, offering digital payments, loans, and
insurance products, underscoring its commitment to providing digital-first financial solutions.
Leveraging the brand equity of the Reliance Group and its technological capabilities, Jio
Financial Services aims to enhance financial inclusion by offering innovative and accessible
financial products across India.

Business Operations and Subsidiaries:

 Jio Finance
 Jio Payments Bank
 Jio Payment Solutions

17
 SWOT Analysis of Jio Financial Services Limited (JFSL)

Strengths:
 As a subsidiary of Reliance Industries, JFSL benefits from substantial financial
backing, a vast customer base, and established trust in the market.

 JFSL operates across various financial segments, including lending, insurance

broking, payment solutions, and investment holdings, enabling it to cater to a broad
customer base.

Weaknesses:
 Being a relatively new entrant in the financial services sector, JFSL faces challenges
in establishing a strong market presence and customer trust.

 Significant investments in technology and infrastructure may strain financial resources

and impact short-term profitability.

Opportunities:
 India's large unbanked and underbanked population presents opportunities for JFSL to
offer accessible financial products and services.

 Plans to enter the insurance and asset management sectors can diversify revenue
streams and strengthen market position.

Threats:
 The financial services sector in India is highly competitive, with numerous established
players and fintech startups vying for market share.

 Macroeconomic fluctuations can impact consumer spending and borrowing behaviors,

affecting JFSL's financial performance.

18
 5. Power Finance Corporation Ltd.

Power Finance Corporation Limited (PFC) is a leading Indian public sector enterprise
specializing in infrastructure finance, particularly within the power sector. Established
in 1986, PFC operates under the administrative control of the Ministry of Power,
Government of India, and is headquartered in New Delhi.

PFC offers a diverse range of financial products, including rupee-term loans, short-term
loans, equipment lease financing, and transitional financing services. The corporation
also provides financial consulting, investment banking, and loan management services,
reinforcing its comprehensive support to the power sector.

With a workforce of approximately 550 employees, PFC maintains a lean organizational

structure to ensure efficient operations. The company's shares are listed on both the
Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), reflecting its
significant presence in India's financial markets.

19
 SWOT Analysis of Power Finance Corporation Limited (PFC)

Strengths:
 PFC operates under the Ministry of Power, Government of India, ensuring strong
backing and alignment with national energy policies.

 The corporation maintains high credit ratings, facilitating access to capital markets at
favorable terms, which is crucial for funding large-scale power projects.

Weaknesses:
 PFC's focus on the power sector exposes it to risks associated with sector-specific
challenges, such as regulatory changes and demand fluctuations.

 Being a government-owned entity, PFC's operations are closely tied to government

policies and decisions, which may limit its operational flexibility.

Opportunities:
 With India's push towards renewable energy, PFC has opportunities to expand its
financing portfolio to include solar, wind, and other green energy projects.

 Investing in digital technologies can enhance PFC's operational efficiency, customer

service, and risk management capabilities.

Threats:
 A downturn in the economy can lead to reduced power consumption and investment
in infrastructure, impacting PFC's business prospects.

 The entry of private financial institutions into the power sector financing space
increases competition, potentially affecting PFC's market share.

20
 4.5 Technical Analysis

Technical analysis is a means of examining and predicting price movements in the financial
markets, by using historical price charts and market statistics. It is based on the idea that if a
trader can identify previous market patterns, they can form a fairly accurate prediction of
future price trajectories.

It is one of the two major schools of market analysis, the other being fundamental analysis.
Whereas fundamental analysis focuses on an asset’s ‘true value’, with the meaning of
external factors and intrinsic value both considered, technical analysis is based purely on the
price charts of an asset. It is solely the identification of patterns on a chart that is used to
predict future movements.

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 time frame. The time frame can be based on intraday (1-minute, 5minutes, 10-
minutes, 15-minutes, 30- minutes or hourly), daily, weekly or monthly price data and
last a few hours or many years.

It is the study of previous price movements to forecast future price changes driven by
supply and demand variables. The goal of the analysis is to predict the price direction in
the future. Technical analysis takes a direct approach by focusing on price and only
price. An upward trend occurs when demand exceeds supply, resulting in a price
increase.

An uptrend line is constructed by connecting two or more low points and has a positive
slope. For the line to have a positive slope, the second low must be higher than the first.
A downward trend occurs when supply exceeds demand, resulting in price decreases. A
downtrend line is formed by connecting two or more high points and has a negative
slope

There are three ways a market can operate which means markets are moving.

1.Uptrend - This shows that the share price is going upside. It happens when there are
more buyers in the stock.

2. Downtrend - This shows that the share price is going downside. It happens when
there are more sellers in the stock

3.Sideways - There is no clear up or down move and the stock ranges between a
resistance & Support.

21
 Candle Stick

A candlestick chart is a graphical representation used in financial analysis to

display the price movement of an asset. This may include a stock, currency, or
commodity, over a specified period of time. It consists of individual
"candlesticks," each representing a specific time frame (e.g., a day, hour, or
minute).

Here are some candle sticks pattern

22
 Resistance Level

In the stock market, a resistance level represents a price point where upward
price movement is met with increased selling pressure, potentially leading to a
reversal or a halt in the upward trend. It's a ceiling, acting as a point where many
traders anticipate selling and taking profits.

 Support Level

In the stock market, a support level is a price point where a declining stock is
expected to find its bottom and bounce back up. It's a level where traders
anticipate strong buying interest, often because buyers believe prices won't fall
below this level and will eventually rise again.

23
 VWAP Indicator

In the stock market, VWAP, or Volume Weighted Average Price, is a technical

indicator used to determine the average price of a security during a specific time
frame, considering both price and volume. It helps traders assess if a security is
being traded above or below its average price, potentially indicating
overvaluation or undervaluation. This is used for Short Selling strategy.

 Exponential Moving Average (EMA)

It's a type of moving average that gives more weight to recent data points
compared to older ones, making it more responsive to price changes than a
Simple Moving Average (SMA). This responsiveness helps traders and investors
identify emerging trends and potential reversals more quickly.

24
4.6 Chart Patterns

Downtrend Pattern

Uptrend Pattern

Sideways pattern

25
3.0 Learnings

26
4.0 Conclusion

27
5.0 Limitations

28
6.0 Recommendations

29
References

https://intradayscreener.com/stock-market-today

https://www.tradingview.com/chart/c79ETOpf/?symbol=OANDA%3AXAUUSD

https://www.moneycontrol.com/stocksmarketsindia/heat-map-advance-decline-ratio-nse-bse

https://blog.osum.com/bajaj-finance-swot-analysis/?utm_source

https://www.bajajgroup.company/core-companies/bajaj-finance-limited/?utm_source

https://economictimes.indiatimes.com/defaultinterstitial.cms

https://markets.ft.com/data/equities/tearsheet/profile?s=PFC%3ANSI&utm_source

https://scripbox.com/plan/sip-calculator

https://www.moneycontrol.com/

https://openai.com/index/chatgpt/

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