A Comparative Analysis of Proposed and Existing Technical Indicators for Indian Stock Market

This paper is aimed at comparison of various technical indicators on NSE indexed sectors with a five-year dataset i.e., Apr’16 to Mar’21. The data used is scraped via NSE’s official website. Popular technical analytical indicators such as Moving averages, may it Simple or Exponential, Moving Average Convergence and Divergence, Bollinger Bands, Williams %R, Stochastic Oscillator, Commodity Channel Index, Rate of Change, Directional Movement Index, Relative Strength Index along with the proposed indicator GIST(Global Indicator of Strength and Trends) are applied to make investments & efficient markets judgments, in addition, to evaluate, how much every undertaken technique is sensitive, reliable. This paper does a comparative study of all the listed indicators and will be beneficial for everyone who wants to make good investment decisions, as this study will help them choose the best indicators for investment judgments. Results show that the proposed indicator is giving better results in terms of profits over other technical indicators, that are used in this paper.