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Capital markets in India have a rich history that dates back to the 18th century when East India Company securities traded in the country. This study primarily relies on secondary data, including statistical data from various websites. Capital markets serve as a means to direct surplus funds into productive investments and mainly trade in long-term securities. The primary divisions of the capital market include the stock market, bond market, and primary and secondary markets. The primary market deals with new issues of securities, while the secondary market deals with previously issued securities. During the first and second five-year plans, the Indian government emphasized the development of agriculture and public undertakings. Public sector undertakings were healthier than private undertakings, but shares were not listed in the stock exchange, and the Controller of Capital Issue (CCI) closely supervised everything. Capital markets were not well developed during the British rule, but after the introduction of SEBI, the situation has improved significantly. By providing long-term loans, the capital market enables the effective functioning of various sectors of the economy. An efficient capital market is a key factor in the economic development of a nation. This study aims to explore the regulatory mechanisms that have developed for the Indian capital market, analyse the effectiveness of technical analysis in investment decision making, and identify any constraints that impede the smooth functioning of the capital market.