The Use of Technical and Fundamental Tools By Indian Stock Brokers

Naveen Kumar Baradi and Sanjay Mohapatra
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Naveen Kumar Baradi: Indian School of Business, Hyderabad, India
Sanjay Mohapatra: Xavier Institute of Management, Bhubaneswar, India

International Journal of Business Analytics (IJBAN), 2015, vol. 2, issue 1, 60-73

Abstract: This paper presents findings of an online questionnaire survey on the perceived importance of chartist/technical and fundamental analysis and the usage of Chartist Methods and Services and Valuation Techniques among stock brokers of Bombay Stock Exchange, India. Stock brokers rely more on fundamental analysis vis-à-vis technical analysis at longer forecasting horizons and rely more on technical analysis at shorter forecasting horizons. Among Chartist Methods and Services, Sentiment Indicators were most used and Chart Company or Analyst was least used by brokers. Among Valuation Techniques, Earnings Multiple Methods were most used and Dividend Discount Models were least used by brokers. Stock brokers' age correlates with usage of sentiment indicators and their gender correlates with the usage of computer graphics and services. Regarding the use of chartist / technical and fundamental analysis on seven forecasting horizons, four distinct forecasting styles among stock brokers could be identified through cluster analysis.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jban00:v:2:y:2015:i:1:p:60-73

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