www.daroon.co.in, is an online tool for deconstruction of the stock movement in the stock markets to an comprehensible form, easily understandable to a person from a different profession. It also presents of data both from company results and technical analysis form, entwined together to form a crystal ball and present a clear vision. The following lines are to make you understand the philosophy, reason and methodology behind the construct, for you might intend to invest, research or be plain curious in the stock markets.

The stock markets command awe by the amount of their turnover, and daily variation of that, and to think that there is an underlying code which governs all that orderly upheaval is simply mind boggling.The stories of rags-to-riches through the stock markets are subjects of popular books and cinema and are part of our culture.The media follows and reports any considerable change in market movement as national headlines.
For busy professionals it is really difficult to follow the stock markets, for hours, on a daily basis, for there are thousands of scripts, schemes, F&O to choose from. The media reports the indices BSE Sensex or NSE nifty or any other index are only representative of the market mood and price movement but representation cannot cover every aspect of the constituents, so if we can break up the market-movements in terms of patterns to smaller and towards singular scale, the formidable amount of data becomes humanly comprehensible. This website brings you that understanding.

1. For navigation to the home page, click on the website logo.
2. For navigation with-in logged area,a drop down list to all the available pages, is provided.
3. For zoom adjusting use CTRL+ and CTRL- respectively for zooming in & out.
4. The site is best viewed on a screen with resolution width of 1280px or more and 16:9 aspect ratio.

The demo pages show example of the filtering by search criteria; only the ticked criteria are functional, but gives an overview of the working. The language is intuitive for anybody to understand. The idea of the bulk-analysis, as one can understand from demo, is to filter out the relevant stocks; as if one is going to invest tomorrow.For example, one can look for companies with dividend yield, and invest in a company of 5% dividend yield which will give him/her 5% return on the ex-date apart from the usual increase in stock value due to good company performance.However in spite of getting the best result for investing in near future, it is advisable to nurture familiarity with the data before investing.
After the user chooses out the options, he is supposed to add the stock to equity analysis page for a minute and detailed scrutiny, before making a decision. The filtering mechanism and charts analysis are discussed below in detail. The demo bulk-analysis page has link to demo equity analysis page. Only old NSE data has been used for demo pages; registered users have access to latest BSE & NSE data.

The methodology for registration is mentioned at the right hand side panel on that page. The basic principle is that a user registers with the login details and the cheque number that he/she couriers/sends by post. After the cheque is credited, the account is activated and the user notified. We accept only cheque payments from banks within India.

These pages display the account details including the past payment details, login name, e-mail ids, next renewal due date etc.This page also has provision for password change.

Some examples of looking for details in the markets.

The data page, updates daily and/on availability of newer data. The figures that is displayed on the page are

1. Indices values the stock markets NSE & BSE
2. Turnovers of the indices.
3. Currency exchange rate of four major currencies vis-a-vis the INR.
4. Gold price of 10 grams of 22K gold.
5. Money market repo from the RBI operations.
6. Investments by FII/FPI in equity through the stock markets.
7. Investments of the mutual funds in equity.

1. On the bulk analysis page, only two of the search criteria (check boxes) can be selected at a time.
2. Having finalised the search criteria, press the submit button for the result. The criteria & the drop-down selection returns to their default, so for repeating the search, the user has to memorize the selections.
3. Since the date displayed at top-right banner may be different from the last date of data update (on market-open days, from 9.00 AM to 6.00 PM, the updte lags by a day), the date is displayed with the result where-ever required.
4. After the results are displayed, on clicking AddTo MyEquityList, the checkbox-state is made passive indicating that the equity can now be viewed in the equity analysis section. Multiple selections can be made to MyEquityList.
5. Help tips are provided at the end of the search criteria line. Effort has been made to keep the language self-explanatory.
6. In addition to the displayed search criteria; we are always modelling other easy-to-use & relevant bulk search methods, which will be available after testing.

The basic principle of the bulk analysis is to intelligently reduce the number of eligible choices for investment. The user must apply some basic judgement to buy shares to be risk free. One hundred per cent risk-free is technically impossible but we, through the following lines will try to understand the daroon criteria and their application to the above objective. The search (filter) criteria is divided into seven major categorization namely,

1. By Advances, Declines: Helps in simple filtering with increase & decrease in final price of the trading day or 5-day average of the same. The 5-day-average smoothens any immediate turbulence in the end-of-day price.
   Kindly note that searching only by price may display stocks which have volume as low as 1,which may see extreme fluctuation in prices & volatility.
2. By Volume, Momentum:These criteria help filtering by increase or decrease of number of shares traded on each day or price momentum calculated by difference of average of time periods. There is an automatic filter to all the results, so that the scrips those show up is always above certain volume-per-day.
3. By Daily, High, Low: These criteria help filtering using the highest and lowest prices’ of scrip in a day. Since following the intra-day movement of price is out of scope of this website and end of day price has been accorded more weightage in the criteria.
4. By Indices, groups: Shows various grouping and indices in the two bourses. Provides natural filters with large capital, mid-size capital, small capital or groupings like exchange traded funds and industries’ sectors etc. Very convenient to shortlist some major “blue-chip” stocks. However since these stocks constitute the indices also,their movement is by-and-large reflected on the indices; here the, advanced filters (at the bottom of the bulk analysis page) based on chart reading techniques come into play.
5. By Trends:These indicators are broad based filters discounting the movement of price in-between the selected time periods; or filtering on basis of per cent trend.
6. By performance,dividends, financial ratios:These are one of the most useful criteria.The company profit data is usually updated to the stock exchanges on a quarterly basis, and is updated on the website on asap basis.
   A brief with the available financial ratios is as follows:
   P/E Price-Earnings ratio : It is a ratio between
   Current CLOSE/Earning Per Share
   The EPS is the last available quarterly result of that quarter. Shows the relational performance of the company vis-a-vis the capital market.However small and fractional EPS values can also give large & misleading P/E ratios.
   Earning per share (EPS) reflects the performance of the company. Only last quarter results are used. The EPS displayed here is the basic eps which is calculated as
   Profit After Tax(Net proft) / Total no. of shares
   without discounting any special / extraordinary expenditure.
   Dividend per share (DivPS)is the dividend declared by the company board. It is updated on a daily basis.
   Dividend Yield displayed as percentage and calculated as
   (DivPS/Current CLOSE) *100
   shows how much a person stands to gain, in percentage, on ex-date if invests in the share at the current price.Kindly note that the day LOW may be lower than the CLOSE, hence the yield may be higher.
   Earnings Yield calculated as
   EPS/Current CLOSE
   reflects performance of the company vis-a-vis the capital market.
   Payout Ratio is calculated as
   DPS / EPS
   Reflects the performance of the company & professionalism of the board.
7. By Indicators (Advansed): These criteria are based on chart-reading techniques developed by master analysts. We have adopted some of them on the basis of the types and quantities they use so as to cover all parameters of the stock price movement. All of these indicators also available on equity analysis page. The details and nuances of each of the indicators are listed below.

1. Equities can be selected to be analysed in detail, on equity analysis page, where selected equities from bulk analysis are displayed under "Buy" list by default
2. On the Equity analysis page, equities can be added both to buy and sell lists.
3. MyEquityList can have up to 50 equities listed at any time for each user;
4. The resistance & support prices displayed on the day, are for the next trading session.
5. If the stock is not traded on the day, i.e, not a single share changes hand, it will simply not show up, even if it is added in MyEquityList list, due to lack of day prices. It will reappear on the day it is traded again.
6. The candle stick in the price volume is either filled with blue colour or white depending upon whether, OPEN was higher than CLOSE or otherwise respectively.

1. MACD-Moving average convergence divergence, for periods of 12,26,9;14,5,5; 50,26,12; 75,50,12; 100,50,25; 150,100,25
2. RSI-Relative strength index for periods of 5, 10,12,14,20,26,50,75,100,150,250
3. CCI-Commodity channel index, for periods of 5, 10,12,14,20,26,50,75,100,150,250
4. OBV-On balance volume
5. Stochastics-for periods of 5, 10,12,14,20,26,50,75,100,150,250 & with 3 periods of %K & %D each
6. ChMF-Chaikin money flow for 5, 10,12,14,20,26,50,75,100,150,250 periods

1. SMA for periods of 5,10,12,14,26,50,75,100,150,250
2. EMA for periods of 5,10,12,14,26,50,100,150,250
3. Bollinger bands with SMA of 5,10,12,14,20,26,50,75,100,150,250 periods & standard deviations of ±1, ±1.8, ±2 times for each period.

Having short-listed your tranche of stocks from the bulk analysis pages or from other sources, it is reasonable that one uses the equity-analysis page for technical analysis of the stocks before the final decision. One can add stock directly to these pages from bulk-analysis.
For adding stocks from within the page,
On NSE Equity Analysis page
Type the first three letters of the name or symbol of the company in the text field on top left side.The automatic list will not appear if

1. There is no match of name or SYMBOL with the typed name.
2. The name or SYMBOL is shorter than 3-characters.

If you are trying to add by the SYMBOL of the stock, kindly note that some listings have maximum 2-characters as SYMBOL,e.g., SYMBOL of Larsen & Toubro is LT.So after tying 3 characters, if there is no list, kindly try the full name of the company.

On BSE Equity Analysis page
Type the first three letters of the name of the company or first five digits of the code of the stock, for the automatic list to appear.

The attributes of My Equity List
Each of the attributes (from left-to-right) of the list are explained as follows;

1. The clickable check-box to add the SYMBOL to charts; Above the check-box the intention of transaction (Either Buy or Sell) is mentioned, which you have earlier selected.One SYMBOL or SC_CODE can be there in both buy & sell columns, however while deleting, it is deleted from both the columns.
2. The unique SYMBOL (NSE) or SC_CODE & SC_NAME (BSE) of the stock.
3. The OPEN, HIGH, LOW, CLOSE prices of the stock, in the last updated trading session.
4. The number of shares traded (Volume) in the last updated trading session.
5. UP/DN shows the comparison of the last-updated-session CLOSE price over previous session. Kindly note that on the charts, the filled candlestick indicates that the CLOSE price is down from OPEN price, in the same session.
6. Depending upon the intention, either buy or sell, the next(last column on NSE equity analysis) column shows either support or resistance prices respectively, which are the projected prices for next trading session. The calculation formulae of support & resistance are shown in the derivation section.
7. The last column is there only on BSE charts page and has G as name, which is shortened from SC_GROUP. SC_GROUP lists categorisation based on quality of the scrip as A,B,T etc.

Following are the technical indicators available on this website; One should cross reference with all the indicators before before investing.
1. Support & Resistance price levels. In a given time period or in a given trend, support is the price level through which a stock seldom falls. Resistance, on the other hand, is the price level that a stock seldom surpasses.These price-barriers are caused by supply-demand, and a psychology driving that stock price.
2. RSI (Relative Strength Index) is based upon Exponential moving average and depending on high & low price in that period.14-day periods RSI values of below 30 and above 70 are considered oversold and overbought conditions respectively.
3. Bollinger bands, BB+ and BB- are two lines that are arrived at by adding (SMA+σ) and subtracting (SMA-σ) the period average with period standard deviation respectively. The trend is concluded by watching the daily candlestick to be inside the two lines or out and above.Standard deviation is the difference from the mean and in plain language indicates the volatility of the stock, from it's own average; hence if the volatility is trending upwards and gap between the two lines is increasing, it's time to buy and vice-versa.
4. MACD(Moving Average Convergence Divergence)is the difference between averages of one shorter period and longer period. The zero crossover signifies shorter average shooting up ahead of the longer period average, and is a matter of judgement & time, when the stock will be overbought and prices start falling. The divergence from the signal that is gap between the two lines signifies sustainability of the trend.
5. ChMF (Chaikin money flow) based on period high and low and end-of-day price, volume on each day. The indicator is considered to show the flow of actual value in & out as it multiplies daily price range with volume in that period. It is an sensitive indicator for low time periods. ChMF value at above +0.05 and below -0.05 is considered bullish & bearish trend respectively.
   Zero crossovers are considered as future indicator of change in money flow, and one should note the angle at the cross-over to ascertain the strength of the trend.
6. Stochastic comes from the Greek word 'stokhos' meaning aim is one of the more accurate buy,sell indicator. Oscillates between 20 & 80 as oversold & overbought positions.As with some of the other indicators consists of two lines.The %d line is 3-period SMA of the %k line and cross-overs indicate shift in the price trend.
7. On Balance Volume On Balance Volume (OBV) is an indicator that uses volume and price to measure buying pressure and selling pressure.It should be read in conjunction with the current price trend to confirm the trend. Any divergence from the price trend should be seen as an indication of change in price trend.
8. Commodity Channel Indexmeasures the difference between a security's price change and its average price change.In most cases works between +100 & -100 ranges but in extreme cases may go beyond these levels. Approaching these levels show a strength & weakness respectively.The indicator can be used to identify new trends and weekly or monthly periods can be used to identify long-term trends.
9. Simple Moving Average (SMA) Most of the indicators are somehow based on a moving average. It is the basic ingredient. It smoothens the trendline and can point towards the trend & filter out the clutter.
10. Exponential Moving Average (EMA) It is similar to SMA, but differs in the fact that it gives more weightage to the more recent price.

1. SMA is the abbreviation of simple moving average.
   The formula is SA = (x1+x2+x3+…..+xn )/n; it’s called the moving average when (on addition of values to the set) the second value become the first value and the last value has then becomes the second-last value.
2. EMA is the exponential moving average.
   The formula is EMA = {Close - EMA (previous day)} x multiplier + EMA (previous day) Multiplier = (2n/ (Time periods + 1)
3. The Bollinger bands are functions of N-period simple moving average (MA). The upper band is calculated by adding N-period standard deviation above the moving average (SMA + Kσ) and the lower band is calculated by subtracting N-period standard deviation below the moving average (SMA − Kσ). The values of K available are 1, 1.8 and 2.
   σ (latin lowercase sigma) is the standard deviation.)
4. The next day price-levels; The Support, Resistance,Typical & Weighted CLOSE prices are calculated as follows;
   H = DAYS HIGH , L = DAYS LOW , C =DAYS CLOSE
   Pivot point P = (H + L + C) / 3 , Weighted Close = (H + L + C+C)/4
   First Resistance R1 = (P x 2) - L
   Second Resistance R2 = P + (H - L)
   Third resistance R3 = H + 2 x (P − L)
   First Support point S1 = (P x 2) - H
   Second Support point S2 = P - (H - L)
   Third Support point S3 = L − 2 x (H−P)
   P can be replaced by weighted close; We use the pivot point on this website.
   Support & resistance levels can alternatively be calculated as per the fibonacci numbers.
5. Deliverable per cent is the measure of no. of stocks that has already been paid-for out of total no. of share-volume traded.
6. Moving average convergence divergence (MACD) consists of two lines, the difference & the signal line. The difference line is the calculated by (X-day EMA – Y-day EMA). Signal Line is arrived at by n-period EMA of difference line. MACD Histogram is calculated as : MACD Line - Signal Line.
   The periods of MACD available are;
   i. X = 12 , Y = 26, n = 9
   ii. X = 14, Y = 5, n = 5
   iii.X = 50, Y =26, n = 12
   iv. X = 75, Y = 50, n = 12
   v. X = 100, Y = 50, n = 25
   vi. X =150, Y = 100, n = 25.
7. Chaikin Money Flow (ChMF)calculation methodology is as follows,
   ChMF Multiplier = [(Close - Low) - (High - Close)] / (High - Low)
   ChMF Volume = ChMF Multiplier x Volume for the Period n (day)-period
   ChMF = n-period ChMF Volume / n-period Sum of Volume.
8. Standard deviation though is not listed as a separate indicator, is used in calculation of Bollinger bands & is calculated as , for N number of observations.
   
9. On Balance Volume is a significant technical indicator measures buying & selling pressure. It is also one of the few indicators considered to predict the a change in trend; It is calculated as follows If the closing price is above the prior close price then: Current OBV = Previous OBV + Current Volume If the closing price is below the prior close price then: Current OBV = Previous OBV - Current Volume If the closing prices equals the prior close price then: Current OBV = Previous OBV (no change)
10. Relative strength index (RSI)is a measure the gain of price while taking into account the time period of the current trend. It is calculated as follows RSI = 100 – 100/(1 + RS)
    RS = Average Gain (AG)/ Average Loss (AL)
    AG = Average of gains over last n period
    AL = Average of losses over last n period
11. Commodity channel index measures the cyclical nature of the price movement and predicts future environment, it is calculated as follows
    CCI = (Typical Price - N period SMA of TP) / (.015 x Mean Deviation)
    Typical Price (TP) = (High + Low + Close)/3,
    Constant = 0.015
    The mean deviation is calculated is of the typical price in following manner
    (i) Subtract the most recent n-period average of the typical price from each period's typical price.
    (ii) Take the absolute values of these numbers.
    (iii) Sum the absolute values.
    (iv) Divide by the total number of periods
12. Full Stochasticsis the price momentum indicator in a historical period & is calculated as follows;
    Fast %K = (Current Close - Lowest Low)/(Highest High - Lowest Low) * 100
    Slow %K = 3-day SMA of fast %K
    %D = 3-day SMA of %K
    Lowest Low = lowest low for the look-back period
    Highest High = highest high for the look-back period
    %K is multiplied by 100 to move the decimal point two places.