Technical Indicators of Major Healthcare Companies: A Comprehensive Analysis

Rohit Mehta; Sofia  Khan; Ashutosh Kumar  Singh

doi:10.21844/16202116110

Rohit Mehta Research Scholar, Department of Business Economics, VBS Purvanchal University, Jaunpur, India
Sofia Khan Assistant Professor, Department of Management, School of Management Sciences, Varanasi, India
Ashutosh Kumar Singh Assistant Professor, Department of Business Economics, VBS Purvanchal University, Jaunpur, India

DOI: https://doi.org/10.21844/16202116110

Keywords: Healthcare Services Stocks, Moving Average Convergence Divergence (MACD), Rate of Change (ROC), Relative Strength Index (RSI), Apollo Hospital Stock, Fortis Healthcare Stock, Narayana Hruda Stock, Nifty Healthcare Index

Abstract

This research aims to provide a comprehensive analysis of major healthcare stocks along with the nifty health care index within the healthcare sector. Employing technical indicators such as the Moving Average Convergence Divergence (MACD), Rate of Change (ROC) and Relative Strength Index (RSI) we conduct a detailed trend analysis to identify historical patterns and potential turning points in stock prices. Furthermore, advanced time series forecasting models and predictive analytics are utilized to forecast future share prices for the selected three companies, offering valuable insights for investors and market participants.

In addition, we investigate the relationship between the stock prices of Apollo Hospital, Fortis Healthcare & Narayana Hruda and the Nifty Healthcare Index. This analysis sheds light on how individual stock prices are influenced by broader sectoral performance. We also explore the impact of MACD, ROC, and RSI technical indicators on the prices of all healthcare stocks through rigorous statistical analysis. Our findings provide healthcare sector stakeholders with a deeper understanding of stock behaviour, potential future movements, correlations with market indices and risk assessment.

The results of this study enhance the decision-making process for investors and market participants in the healthcare sector. By examining historical trends, forecasting price dynamics, assessing sectoral correlations, evaluating technical indicator effects and risk measurement, this research contributes to a more comprehensive view of these stocks and their positioning within the healthcare industry.