STATEMENT OF HYPOTHESIS:

Null hypothesis: ONGC stocks have performed equally well compared to Maruti Suzuki,
TCS and ICICI.

Degree of freedom= (r-1) (c-1)

(4-1) (5-1) =12

α = 0.05, table value= 21.00

Data: - % returns in year wise for subject companies.

2006 2007 2008 2009 2010 TOTAL

ONGC -2.4276 3.3814 -2.7516 6.0843 0.9187 5.2052

TCS -1.2245 -1.6044 -4.7936 5.6168 3.8359 1.8302

ICICI 3.9209 2.9258 -6.8115 8.9634 3.1077 12.1063

MS 2.1681 0.9376 -3.7745 10.3709 0.4847 10.1868

TOTAL 2.4369 5.6404 -18.1312 31.0354 8.347 29.3285

 Fe=((R
COM YE TCT)/N (Fo- ((Fo-
PANY ARS RT CT N ) Fo Fo-Fe Fe)2 Fe)2/Fe)
 -
0.43249 2.427 8.18016
ONGC 2006 5.2052 2.4369 29.3285 9 6 -2.8601 7 18.91372
1.00105 3.381 2.3803 5.66604
ONGC 2007 5.2052 5.6404 29.3285 4 4 46 7 5.660082
-
2.751 0.4663 0.21744
ONGC 2008 5.2052 -18.1312 29.3285 -3.21791 6 12 7 -0.06757
5.50813 6.084 0.5761 0.33196
ONGC 2009 5.2052 31.0354 29.3285 9 3 61 1 0.060267
-
1.48141 0.918 0.5627 0.31665
ONGC 2010 5.2052 8.347 29.3285 9 7 2 3 0.21375
- -
0.15207 1.224 1.3765 1.89494
TCS 2006 1.8302 2.4369 29.3285 1 5 7 8 12.46094
- -
1.604 1.9563 3.82742
TCS 2007 1.8302 5.6404 29.3285 0.35198 4 8 5 10.87397
- -
4.793 3.6621 13.4113
TCS 2008 1.8302 -18.1312 29.3285 -1.13145 6 5 4 -11.8532
1.93671 5.616 3.6800 13.5430
TCS 2009 1.8302 31.0354 29.3285 6 8 84 1 6.992771
0.52088 3.835 3.3150 10.9893
TCS 2010 1.8302 8.347 29.3285 2 9 18 5 21.09758
12.106 3.920 2.9149 8.49716
ICICI 2006 3 2.4369 29.3285 1.00591 9 9 5 8.447238
12.106 2.925 0.5975 0.35705
ICICI 2007 3 5.6404 29.3285 2.32826 8 4 4 0.153357
-
12.106 6.811 0.6727 0.45258
ICICI 2008 3 -18.1312 29.3285 -7.48425 5 47 9 -0.06047
-
12.106 12.8108 8.963 3.8474 14.8030
ICICI 2009 3 31.0354 29.3285 8 4 8 9 1.15551
12.106 3.44549 3.107 0.11410
ICICI 2010 3 8.347 29.3285 8 7 -0.3378 7 0.033118
10.186 0.84641 2.168 1.3216 1.74683
MS 2006 8 2.4369 29.3285 9 1 81 9 2.063799
-
10.186 1.95910 0.937 1.0215 1.04347
MS 2007 8 5.6404 29.3285 6 6 1 4 0.532628
-
10.186 3.774 2.5230
MS 2008 8 -18.1312 29.3285 -6.29759 5 91 6.36599 -1.01086
10.186 2.89920 0.484 5.82981
MS 2010 8 8.347 29.3285 1 7 -2.4145 6 2.010835
77.69292
Total

ONGC.

Table 8.4: Table showing the price behaviour of ONGC.

Date Close Date Close Date Close

02-01-2006 1237.3 03-09-2007 971 01-05-2009 1182.95

01-02-2006 1136.4 01-10-2007 1250 01-06-2009 1065.25

01-03-2006 1311.35 01-11-2007 1168.25 01-07-2009 1170

03-04-2006 1303.45 03-12-2007 1238 03-08-2009 1189

01-05-2006 1179.15 01-01-2008 1018 01-09-2009 1167.05

01-06-2006 1108.05 01-02-2008 1012 01-10-2009 1133.95

03-07-2006 1173.15 03-03-2008 986 02-11-2009 1198

01-08-2006 1217.6 01-04-2008 1031.3 01-12-2009 1182

01-09-2006 1169.85 01-05-2008 861.6 04-01-2010 1198

02-10-2006 815.75 02-06-2008 804 11-02-2010 1119.5

01-11-2006 862.35 01-07-2008 992 02-03-2010 1092.55

01-12-2006 871.3 01-08-2008 1023.75 01-04-2010 1055.1

01-01-2007 911.4 01-09-2008 1034.8 03-05-2010 1175

01-02-2007 788.05 01-10-2008 684 01-06-2010 1315.6

01-03-2007 880.8 03-11-2008 687.05 01-07-2010 1238

02-04-2007 913.85 01-12-2008 668 02-08-2010 1334

01-05-2007 922.3 01-01-2009 656 01-09-2010 1398.8

01-06-2007 905.55 02-02-2009 690 01-10-2010 1301.9

02-07-2007 914.55 02-03-2009 778.2 01-11-2010 1246.05

01-08-2007 860 01-04-2009 868 01-12-2010 1291.75

Graph 8.4: Graph showing the price behaviour of ONGC.

Table 8.8: Table showing moving average prices of ONGC.

Date Close SMA 10 Date Close SMA 10

day day
02-01-2006 1237.3 01-07-2008 992 1036.115
01-02-2006 1136.4 01-08-2008 1023.75 1013.49
01-03-2006 1311.35 01-09-2008 1034.8 1000.145
03-04-2006 1303.45 01-10-2008 684 944.745
01-05-2006 1179.15 03-11-2008 687.05 911.65
01-06-2006 1108.05 01-12-2008 668 877.25
03-07-2006 1173.15 01-01-2009 656 844.25
01-08-2006 1217.6 02-02-2009 690 810.12
01-09-2006 1169.85 02-03-2009 778.2 801.78
02-10-2006 815.75 1165.205 01-04-2009 868 808.18
01-11-2006 862.35 1127.71 01-05-2009 1182.95 827.275
01-12-2006 871.3 1101.2 01-06-2009 1065.25 831.425
01-01-2007 911.4 1061.205 01-07-2009 1170 844.945
01-02-2007 788.05 1009.665 03-08-2009 1189 895.445
01-03-2007 880.8 979.83 01-09-2009 1167.05 943.445
02-04-2007 913.85 960.41 01-10-2009 1133.95 990.04
01-05-2007 922.3 935.325 02-11-2009 1198 1044.24
01-06-2007 905.55 904.12 01-12-2009 1182 1093.44
 02-07-2007 914.55 878.59 04-01-2010 1198 1135.42
01-08-2007 860 883.015 11-02-2010 1119.5 1160.57
03-09-2007 971 893.88 02-03-2010 1092.55 1151.53
01-10-2007 1250 931.75 01-04-2010 1055.1 1150.515
01-11-2007 1168.25 957.435 03-05-2010 1175 1151.015
03-12-2007 1238 1002.43 01-06-2010 1315.6 1163.675
01-01-2008 1018 1016.15 01-07-2010 1238 1170.77
01-02-2008 1012 1025.965 02-08-2010 1334 1190.775
03-03-2008 986 1032.335 01-09-2010 1398.8 1210.855
01-04-2008 1031.3 1044.91 01-10-2010 1301.9 1222.845
01-05-2008 861.6 1039.615 01-11-2010 1246.05 1227.65
02-06-2008 804 1034.015 01-12-2010 1291.75 1244.875
Graph 8.8: Graph showing moving average prices of ONGC.

Table 8.12: Table showing RSI of ONGC.

Date Close Change Advantage Decline Avg. Avg. RS RSI
Gain Loss
02-01-2006 1237.3
01-02-2006 1136.4 -100.9 0 100.9
01-03-2006 1311.35 174.95 174.95 0
03-04-2006 1303.45 -7.9 0 7.9
01-05-2006 1179.15 -124.3 0 124.3
01-06-2006 1108.05 -71.1 0 71.1
03-07-2006 1173.15 65.1 65.1 0
01-08-2006 1217.6 44.45 44.45 0
01-09-2006 1169.85 -47.75 0 47.75
02-10-2006 815.75 -354.1 0 354.1
01-11-2006 862.35 46.6 46.6 0 33.11 70.605 0.468947 31.92402
01-12-2006 871.3 8.95 8.95 0 34.005 60.515 0.561927 35.97651
01-01-2007 911.4 40.1 40.1 0 20.52 60.515 0.339089 25.32239
01-02-2007 788.05 -123.35 0 123.35 20.52 72.06 0.284763 22.16461
01-03-2007 880.8 92.75 92.75 0 29.795 59.63 0.499665 33.31842
02-04-2007 913.85 33.05 33.05 0 33.1 52.52 0.630236 38.65919
01-05-2007 922.3 8.45 8.45 0 27.435 52.52 0.522372 34.31305
01-06-2007 905.55 -16.75 0 16.75 22.99 54.195 0.424209 29.78558
02-07-2007 914.55 9 9 0 23.89 49.42 0.483408 32.58764
01-08-2007 860 -54.55 0 54.55 23.89 19.465 1.227331 55.10322
03-09-2007 971 111 111 0 30.33 19.465 1.558181 60.90973
01-10-2007 1250 279 279 0 57.335 19.465 2.945543 74.65495
01-11-2007 1168.25 -81.75 0 81.75 53.325 27.64 1.929269 65.86179
03-12-2007 1238 69.75 69.75 0 60.3 15.305 3.939889 79.75663
01-01-2008 1018 -220 0 220 51.025 37.305 1.367779 57.76633
01-02-2008 1012 -6 0 6 47.72 37.905 1.258937 55.73139
03-03-2008 986 -26 0 26 46.875 40.505 1.157265 53.645
01-04-2008 1031.3 45.3 45.3 0 51.405 38.83 1.323848 56.96792
01-05-2008 861.6 -169.7 0 169.7 50.505 55.8 0.905108 47.50952
02-06-2008 804 -57.6 0 57.6 50.505 56.105 0.900187 47.3736
01-07-2008 992 188 188 0 58.205 56.105 1.03743 50.91855
01-08-2008 1023.75 31.75 31.75 0 33.48 56.105 0.596738 37.37233
01-09-2008 1034.8 11.05 11.05 0 34.585 47.93 0.721573 41.91359
01-10-2008 684 -350.8 0 350.8 27.61 83.01 0.332611 24.95932
03-11-2008 687.05 3.05 3.05 0 27.915 61.01 0.457548 31.39162
01-12-2008 668 -19.05 0 19.05 27.915 62.315 0.447966 30.9376
 01-01-2009 656 -12 0 12 27.915 60.915 0.458262 31.42519
02-02-2009 690 34 34 0 26.785 60.915 0.439711 30.54162
02-03-2009 778.2 88.2 88.2 0 35.605 43.945 0.810217 44.75801
01-04-2009 868 89.8 89.8 0 44.585 38.185 1.167605 53.86614
01-05-2009 1182.95 314.95 314.95 0 57.28 38.185 1.500065 60.00105
01-06-2009 1065.25 -117.7 0 117.7 54.105 49.955 1.083075 51.99404
01-07-2009 1170 104.75 104.75 0 63.475 49.955 1.270644 55.95962
03-08-2009 1189 19 19 0 65.375 14.875 4.394958 81.46417
01-09-2009 1167.05 -21.95 0 21.95 65.07 17.07 3.811951 79.21841
01-10-2009 1133.95 -33.1 0 33.1 65.07 18.475 3.522057 77.88617
02-11-2009 1198 64.05 64.05 0 71.475 17.275 4.137482 80.53521
01-12-2009 1182 -16 0 16 68.075 18.875 3.606623 78.29212
04-01-2010 1198 16 16 0 60.855 18.875 3.224106 76.32635
11-02-2010 1119.5 -78.5 0 78.5 51.875 26.725 1.941066 65.99873
02-03-2010 1092.55 -26.95 0 26.95 20.38 29.42 0.692726 40.92369
01-04-2010 1055.1 -37.45 0 37.45 20.38 21.395 0.952559 48.78516
03-05-2010 1175 119.9 119.9 0 21.895 21.395 1.02337 50.5775
01-06-2010 1315.6 140.6 140.6 0 34.055 21.395 1.591727 61.41569
01-07-2010 1238 -77.6 0 77.6 34.055 26.96 1.263168 55.81414
02-08-2010 1334 96 96 0 43.655 23.65 1.845877 64.86145
01-09-2010 1398.8 64.8 64.8 0 43.73 23.65 1.849049 64.90056
01-10-2010 1301.9 -96.9 0 96.9 43.73 31.74 1.377757 57.94355
01-11-2010 1246.05 -55.85 0 55.85 42.13 37.325 1.128734 53.02372
01-12-2010 1291.75 45.7 45.7 0 46.7 29.475 1.584394 61.3062

Graph 8.12: Graph showing RSI of ONGC.

 Sell

Table 8.16: Table showing Resistance and support level of ONGC.

Year Resistance Support EPS R/EPS S/EPS

2006 1300 800 101.2 12.84 7.9

2007 1200 800 73.14 16.4 10.93

2008 1000 680 78.09 12.8 8.7

2009 1180 650 75.4 15.04 8.62

2010 1400 1050 78.39 17.85 13.39

Graph 8.16: Graph showing Resistance and support level of ONGC.