Published Paper Details:

Technical analysis is made by investors & traders for decision making of investments in both developing and developed markets. The main tools of technical analysis are MACD (Moving Average Convergence Divergence) and RSI (Relative Strength Index) which are used to determine future trend of prices of stock. In country like India, being a developing market, technical analysis usage by investors is limited to the use of MACD and other nominal indicators. The research covers sample representing the equity which are continually traded on the NSE. This research is helpful to determine the applicability of MACD and RSI indicators for a Profitable investment decision making on Indian Financial Market. The main objective of the research is to identify the potential contribution of standard MACD and RSI indicators vis-�-vis optimized MACD and RSI indicators. The main hypotheses of the research is that the application of standard MACD and RSI indicators contribute to profitable investments than buy and hold strategy (Efficient Market Hypotheses). The tools of data analysis include Excel Mathematical calculations. Research results indicate that the buy and hold strategy results in profitable investments than standard MACD and RSI indicators. According to the obtained results it is concluded that Optimized MACD and RSI indicators are more profitable than buy and hold strategy. And hence Optimized MACD and RSI indicators defy Efficient Market Hypotheses.