We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Efficacy of Refined MACD Indicators: Evidence from Indian Stock Markets.
- Authors
Subramanian, V.; Balakrishnan, K. P.
- Abstract
Moving Average Convergence Divergence (MACD) indicator is the most widely used technical analysis tool to identify trading signals based on the trends in security prices. On testing some of the standard and refined MACD indicators on the movements of BSE Sensex and NSE Nifty during 1997-2010, it was found that the returns of refined MACD indicators outperformed the benchmark market returns. Thus, the findings of this paper challenge the Efficient Market Hypothesis, which rules out the possibility of earning excess returns.
- Subjects
MOVING average process; ECONOMIC convergence; ECONOMIC indicators; SECURITIES trading; STOCK prices; EFFICIENT market theory; RATE of return
- Publication
IUP Journal of Applied Finance, 2014, Vol 20, Issue 1, p76
- ISSN
0972-5105
- Publication type
Article