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Published in:

Volume 7 Issue 5
May-2020
eISSN: 2349-5162

Unique Identifier

JETIR2005023

Page Number

141-155

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Title

Risk-Return Analysis of Momentum Buying & Selling using EMA of Equity Prices in India

ISSN

2349-5162

Cite This Article

"Risk-Return Analysis of Momentum Buying & Selling using EMA of Equity Prices in India ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 5, page no.141-155, May-2020, Available :http://www.jetir.org/papers/JETIR2005023.pdf

Abstract

Present study has been conducted to examine the risk and return on equity prices using Exponential Moving Average (EMA) for the period of twelve years starting from January 1, 2006. The study is based on 31 companies out of 50 companies which constitute NSE NIFTY Index whose data was available for the whole period. The returns on buys as well as sell positions were significant in 49.39 percent, 70.79 percent and 51.61 percent cases but the aggregate return of momentum buying and selling were insignificant in most of the cases on the basis of EMA 5-20, EMA 5-50 and EMA 5-200 respectively. The study also observed positive alpha in cases of 18 stocks, 20 stocks and 20 stocks out of the 31 stocks taken in the study on the basis of EMA 5-20, EMA 5-50 and EMA 5-200 respectively but the value were low. The study concluded that it is not possible to beat the market return on the basis of momentum buying and selling indicated by EMA 5-20, EMA 5-50 and EMA 5-200.

Key Words

Fundamental Analysis, Technical Analysis, Efficient Market Hypothesis, SMA, EMA.

Cite This Article

"Risk-Return Analysis of Momentum Buying & Selling using EMA of Equity Prices in India ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp141-155, May-2020, Available at : http://www.jetir.org/papers/JETIR2005023.pdf

Publication Details

Published Paper ID: JETIR2005023
Registration ID: 231361
Published In: Volume 7 | Issue 5 | Year May-2020
DOI (Digital Object Identifier):
Page No: 141-155
ISSN Number: 2349-5162

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Cite This Article

"Risk-Return Analysis of Momentum Buying & Selling using EMA of Equity Prices in India ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp141-155, May-2020, Available at : http://www.jetir.org/papers/JETIR2005023.pdf




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