Indian Journal of Economics and Development: Forthcoming Issue

Application of Moving Averages: An Empirical Study of Selected Commodity Future Indices


Jasleen Kaur* and Dilraj Kaur



The present study “Application of Moving Averages: An empirical study of selected commodity future indices” was primarily based on performance of technical indicator such as moving average in four commodity future indices i.e. MCX Comdex, MCX Metal, MCX Agri and MCX Energy. For the purpose of achieving the objectives the data was collected for each trading day for a period of five years. The results revealed that the short term moving averages and medium term moving averages lead to statistically significant positive returns. Also, it has been concluded that most of the positive returns of moving averages were statistically significant. Highest average returns were observed by MCX Energy that is 2.75 per cent, 2.87 per cent and 2.63 per cent respectively in the case of 7DMA, 14 DMA and 21 DMA. But in the case of 50 DMA and 200 DMA, highest average returns were observed by MCX Metal i.e. 3.88 per cent and 2.72 per cent respectively. MCX Comdex generated highest return for 100 DMAi.e. 2.72 per cent

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