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- Title
An Evaluation of Single Line Japanese Candlestick Strategies in Indian Equity Market.
- Authors
K., Prasad; Murugaiah, V.
- Abstract
The Japanese candlestick is one of the most popular and widely used techniques to predict the price trend in the near future. By using the daily price data (open, high, low and close) of S&P BSE Sensex component stocks, as on January 2017, for the period from January 01, 2002 to December 31, 2016 the research evaluates the effectiveness of singleline Japanese candlestick trading strategies in Indian equity market. The study uses t-test and binomial test to test the profitability and reliability of the candlesticks respectively and finds that the candlestick patterns are profitable and are reliable in the Indian equity market. Further three sub-samples are examined to confirm the robustness of results.
- Subjects
STOCK exchanges; STOCKS (Finance); INVESTMENT analysis
- Publication
Wealth: International Journal of Money, Banking & Finance, 2018, Vol 7, Issue 3, p18
- ISSN
2277-9388
- Publication type
Article