Online Trading Trustline Debashis

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SUMMER PROJECT REPORT

ON

ONLINE TRADING AT

TRUSTLINE LTD

Submitted to Utkal University in partial fulfillment for degree of Master of

Finance and Control (MFC) At ARYA SCHOOL OF MANAGEMENT

AND INFORMATION TECHNOLOGY (ASMIT).

SSSuuu b b b mmm iiittt ttteeeddd b b byyy

DEBASHISH BARIKRoll No. 13767U113010

Batch: 2011-13

Under the guidance of

External guide: Internal guide:

Mr. DUSHMANT KUMAR DASH Mr. SANDHYA DARSHAN DASH

(BM, TRUSTLINE, CUTTACK) (FINANCE FACULTY, ASMIT)

UTKAL UNIVERSITY, VANIBIHAR, BHUBANESWA


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DECLARATION

I, DEBASHISH , hereby declare that the project report title ONLINE TRADING AT

TRUST LINE in Share Market in special reference to IDBI CAPITAL Prepared under the

guidance of the Faculty guide Asst. Prof. Sandhya Darshan Dash and the Corporate guide

Branch Manager Mr. Dushmant Dash in organization. This report being results of original

and authentic work, and have not been submitted anywhere earlier to this for publication

from any source. This is a true and genuine work to the best of my knowledge and belief. The

data collected during the survey is supposed to the kept confidential and not to be used for

any commercial purpose. The facts and finding presented in this project are true to the best on

my belief.

Place: Bhubaneswar ROLLNO: 13767U113010

Date: NAME: DEBASHISH BARIK


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CONTENTS

CHAPTER-1

INTRODUCTION

OBJECTIVES

SCOPE OF STUDY

METHODOLOGY

LIMITATION OF STUDY

CHAPTER 2 COMPANY PROFILE

ORGANI SATI ON PROF I L E

H I STORY OF TH E COM PANY

ACHIEVEMENTS

MANAGEMENTPROFILE

MISSION,VISION,MOTTO

VARI OUS PRODU CTS

OF F EREI NG FOR TRADI NG

CHAPTER -3 LITERATURE REVIEW

CHAPTER-4 DATA ANALYSIS &

INTERPRETATION

CHAPTER-5 FINDINGSUGGETIONS

CONCLUSION

CHAPTER -6 BIBLIOGRAPHY

REFERENCES

ANEXTURE

(QUESTIONNAIRE)


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CHAPTER-1

I. Introduction

II. Objectives

III. Scope of the study

IV. Methodology

V. Limitation


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INTRODUCTION

The information Technology has brought out revolutionary changes in the operations

of stock exchanges in India. The traditional method of trading without the use of technology

was time consuming and inefficient. Further, it imposed limits on trading volumes and

efficiency.

To overcome those defects and to provide efficient and transparent services, the NSE

has introduced a nationwide on line fully automated Screen Based Trading System(STBS).

Now other stock exchages have been forced to adopt SBTS and today India can boast

that almost 100% trading take place through electronic order matching.

Under SBTS, a member can punch in to the computer quantities of securities and the

price at which he likes to transact the transaction .it is executed as soon as it finds a matching

buy or sell order from a counter party.

Thus technology is used to carry the trading platform from the trading hall of

exchanges to the premises of brokers. NSE has carried the trading platform further to the pcs

at the residence of investors through the internet.


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OBJECTIVE

The name of the study itself tells that the basic objective of the study is based on the

detail mechanism of online trading and the consumer preference.

The main objectives of my study are:

1. To know the process of online trading.

2. To differentiate between online and offline trading.

3. To highlight the advantage and disadvantage of online trading.

4. To explain terms related to online trading.

5. To analyze regarding the consumer preference of mode of trading.

6. To collect information about the experience of the consumer with online trading.

7. To take the opinion from investors about the shortcomings of

Indian online trading system.

8. To check out the types of online trading.


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SCOPE OF THE STUDY

The scope of the study shows

The Different factors which affect the online trading process.

The factors like age, income, profession which thus affects the investment making

decision of various investors in stock market investment

The investors perception towards online trading.

Times have changed and so have mans needs, wants and

requirements. An individual has new hopes and aspirations from the online

trading . In this technological era online trading plays a vital role for the investorsas well as the stock exchanges. Now the clearing and settlement process are also

becoming more flexible due to the introduction of online trading. It is a great

opportunity for me to no more about the online during the project work.


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RESEARCH METHODOLOGY

METHODOLOGY

For different type of research work different methodologies are being followed. The aim of

this section is to discuss and describe the research procedure. This includes the overall research

design, the sampling procedure, the data collection methods and analysis procedures.

1. RESEARCH DESIGN : The research design is the basis frame work which provides

guidelines for the rest of research process. It determines the direction of the study throughout

the procedures to be followed. It determines the data collection methods and analysis

procedures.

2. DATA COLLECTION METHOD :

Primary data: Primary data are collected by gathering information directly frominvestors. So the survey method is used with the help of structured questionnaire to collect

primary data. With the use of survey a wide range of valuable information is collected on

perceptions of investors. In this project the primary data has been collected with the help of

the questionnaire survey .

Secondary data: Secondary data refers to those data which are already availableeither in the form of journal or catalogue already being collected from earlier research work.

Secondary data are derived from different books, magazines and special columns news

papers. Some information is also gathered from different mutual fund offices.

3. Sampling plan

The sample is convenience sampling and sample size is 100.


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LIMITATIONS

This Project has certain limitations and they can be enumerated below:

Time constraint: Due to shortage of time a more detail and more exhaustive

study could be taken up.

The study mainly depends upon the reliability of data and information

collected from primary and secondary sources, thus the study incorporates

limitations that are inherent in the available public information.

Most of the data is confidential and thus not available for us.


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CHAPTER-2

Company

profile


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Organization Profile

Trustline made a humble beginning in 1989 as a proprietary stock broking company and

recently got converted into a public limited company in the name of TRUSTLINE

SECURITIES LIMITED . With the advent of newer exchanges coming into play in the

financial market of India, TRUSTLINE GROUPS foray into the commodity, currency,

depository was but natural. Today TRUSTLINE GROUP is into all major areas of financial

services. MEMBER : NSE, BSE, MCX-SX, USE, NSDL, CDSL MEMBER : MCX, NCDEX

& NMCEIL

Group Companies

TRUSTLINE SECURITIES LIMITED

TRUSTLINE COMMODITIES (P) LTD.

TRUSTLINE FINVEST LTD.

TRUSTLINE INSURANCE BROKERS (P) LTD.

TRUSTLINE REAL ESTATES (P) LTD.

TRUSTLINE ACADEMY THE INVESTMENT SCHOOL


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Network

TRUSTLINE GROUP has over 400 offices pan India and has presence in all major metros o

India. The offices are manned by seasoned market experts who are continuously trained and

upgraded. Offices are well connected through VSAT, Lease Lines, ISDNs, Internet and all

other network facilities. Able IT professionals support the entire network from the head

quarter at Noida, Uttar Pradesh on real time basis. The network has strong presence in various

states with the help of associates, sub- brokers and business partners with a thrust towards

semi urban and rural areas.

We have offices even in those places where proper banking facilities have still not reached.

Strengths

75 Branches all over India.

350 plus business partners across 160 cities, towns & villages in India.

80000 plus registered clients.

70000 sq. ft of office with modern infrastructure at Noida.

9000 plus investors trained through stock m arket related education.

INR 30 crores plus net worth.

Products

Stock broking services by providing both ON LINE and OFF LINE trading terminals to retail,

corporates, institutional & NRI clients.

Commodity futures trading services by providing both ON LINE & OFF LINE trading

terminals.

Structured Currency futures trading platform for export houses, traders, retail individuals and

Banks.

Distribution of financial products by offering Mutual Funds, IPOs, FPOs at competitive rates.

Educational courses on subjects relating to stock and commodity markets, Future & Options,

Technical analysis, banking & micro finance.

Structure, source & implement MIG and LIG Housing schemes for individuals.


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Achievements


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Management profile

TRUSTLINE SECURITIES LIMITED is a professionally managed company under the

leadrship of Dr. Mukesh Kansal. Assisting him are Chartered Accountant, MBAs, CompanySecretaries & IT Professionals.

Dr. Mukesh Kansal - Chairman & Managing Director

Fellow member of The Institute of Chartered Accountants of India, Fellow member of

The Institute of the Company Secretaries of India and Ph.D. on Stock Exchange and its

significance in India. Having over 20 years of experience in Indian Stock Markets &

Financial Services, he holds the position of Chairman and Managing Director.

Mr. Paul Joseph - Principal Advisor

IES (Retd.), former Principal Advisor, Planning Commission, Government of India, is the

Principal Advisor to Trustline Securities Ltd. He has worked in the Ministry of Finance for

over 20 years dealing with Companies, Stock Exchanges, Mutual Funds and Securities and

Exchange Board of India. He has also worked as an economic advisor in various other

Ministries including Ministry of Corporate Affairs.

Mr. Vinay Gupta - Director

Seasoned professional in the field of finance with experience of more than 20 years. He

specializes in structured derivatives and wealth management for Corporates.

Mr. Sidhartha Chatterjee - Country Head

CA & CS by profession, leads the research and sales team. He has experience of more than

15 years in this industry. He has authored over 14 titles on subjects relating to stock market

and specializes in market analysis. Conducts investor seminars, televison programmes &

workshops all over the country for the education of investors.


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Mission :

To empower individual investors by providing simple investments ideas

through investment research and thus lead them to a path of wealth

creation by investing in the securities market.

To free investors from high costs and conflicts of traditional stock

broking by providing value added services.

To hold hands with investors in the prosperity that our country is likely tosee in its economic growth in the coming year.

Vision :

To provide world class investment solution in simplified form to the

investing population.

To provide the most modern technology platform so as to enable

investors perform hassle free transactions at minimum impact cost.

To empower investors with opportunities to invest across various asset

classes to benefit from the dynamism of the market.

Motto :

To treat customers with dignity, respect and care.

To improve our own skills and knowledge to serve the customers better.

To extend our network to all parts of India in the near future.

To import financial and investment literacy to all our customers over

time.


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Products offerings for Trading:

Trust Basic :

It is the most comprehensive system for Internet trading. It enables users to get a browser based trading terminal that can be accessed by a unique ID and password.This facility is available to all our customers the moment they get registered withus.

Trade Basic provides:

o Web trading front endo Online streaming quotes provided on the Browsero Online fund transfero And many more.

TrustPower:

Application based terminal for active traders with online fund transfer facility. It provides better speed, greater analytical features like graphs and customized formula in the marketwatch.

Equity:

Trust line Securities Ltd. , offers the unique feature where our customers get to trade on NSE,BSE and Derivatives all on one screen. Trust line also provides facility to put orders over the

phone through Relationship Managers. Walk-in Customer can always trade through our branch offices located all across India.

Commodity:

Trust line Commodities Pvt. Ltd., offers a unique feature of a single screen trading

platform in MCX, NCDEX & NMCEIL. Trust line Commodities Pvt. Ltd. offers bothOffline & Online trading platforms. You can Walk in or place your orders through

telephone at any of our branch locations.

*Online Commodity Internet trading Platform through:

Trust Basic :

It is the most comprehensive system for Internet trading. It enables users to get a browser

based trading terminal that can be accessed by a unique ID and password. This facility is

available to all our customers the moment they get registered with us.


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Trade Basic provides:

o Web trading front endo Online streaming quotes provided on the Browsero Online fund transfero And many more.

Trust Power :

Application based terminal for active traders with online fund transfer facility. It

provides better speed, greater analytical features like graphs and customized formula

in the market watch.

Mutual Fund

The Trust line Securities Ltd. Mutual Fund distribution and advisory division offers you theopportunity to diversify your investment portfolio. By offering a choice of investmentschemes from all major mutual fund providers we have taken our 100% retail-focused

philosophy step further.

Trust line Securities Ltd. Mutual Fund offers options catering to investors with varyingrisk-return profiles. We also help investors to choose the best mutual fund, based on theirinvestment needs.

The Trustline Securities Ltd. - Advantage

Wide presence across India

Schemes of all major fund houses available

Latest NFO's, MF News & Fund Manager views

Information & tools to help select the right scheme

Dedicated Relationship Managers

Regular updating on Mutual Funds portfolio and suggestions if any changes arerequired.


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Currency :

Overview :

Currently in India, there are 3 major exchanges offering Currency future trading NSE,

MCX-SX & USE-SX. Trustline Securities is a trading cum clearing member for the

currency segment. We believe in the tremendous potential of currency future to become a

dominant force of the Indian financial market with a turnover which can outperform even

equity and commodity segment. We firmly believe that wider market participation will

bring more strength to the market & this can be achieved through disseminating education

& information among various market participants. For us, currency is not just any other

segment of business; it is "the business of future".

OurOfferings

Offline trading: This is the most traditional way of carrying out trading in financial markets.

Clients can place their orders with our nearest branch by visiting them personally or on the

phone. Online trading: Online trading offers the convenience to trade from the comfort of

your home / office. We provide trading software which can be downloaded by the client on

any system. Through their user ID & password, clients can start trading online.

Alternatively, we also provide the facility to trade through our browser based application.

Corporate advisory: We believe that corporate participation is the key to growth of this

segment. We understand that corporate have a very special set of requirements for hedging

as well as investment. Every business needs customized solutions to its requirements and

that is what we deliver - hedging / investment solutions based on what is best-suited to the

business dynamics. Our dedicated team of Relationship Managers ensures that our

deliverables exceed the expectations & a long-lasting relationship is built.

Our edge

A vast network of offices giving us pan India presence

Dedicated Relationship Managers

Real-time risk monitoring of financial markets

Experienced Research Analysts


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Insurance:

As we are providing the entire financial product under one roof, we are also giving you the

best product available in insurance Industry. We are also tendering services for Life

Insurance and General Insurance. An Insurance Distributor is a representative of the

insurance buyer. The insurance Distributor does not represent any particular insurance

company, unlike an agent. We are committed to client to provide best possible services and

products according to clients need and as per his portfolio requirement.

F acil iti es Off ered by Trustli ne:

Online Back office: You can view your demat account over the Internet and avail a host ofservices. This facility empowers our clients to view, download, and print updated holdings

with respective valuations.

Link: http://bo.trustline.co.in/

* De-materialization: You can submit your physical shares at the Trustline branch for

dematerialization into electronic form.

* Re-materialization: You can also request for Re-materialization which enables you to

convert the dematerialized shares into physical form.* Transfer: Inter and intra depository services are available through which you can transfer

shares.

Online Trading

Trustline Securities Ltd. offers the unique feature where our customers get to trade on NSE, BSE and Derivatives all on one screen. Trustline also provides facility to put ordersover the phone through Relationship Managers. Walk-in Customer can always tradethrough our branch offices located all across India.

Products offeri ngs for Tr adin g :

Trustline Trade Online

It is the most comprehensive system for Internet trading. It enables users to get a browser based trading terminal that can be accessed by a unique ID and password. This facility isavailable to all our customers the moment they get registered with us.

Trade Anywhere provides Web trading front end

Online streaming quotes provided on the BrowserAnd many more.
http://bo.trustline.co.in/http://bo.trustline.co.in/http://bo.trustline.co.in/http://bo.trustline.co.in/


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Depository

Trust line Depository Services offers dematerialization services as a participant in Central

Depository Services Limited (CDSL), through its Depository operations. The company

believes in efficient and cost-effective and integrated service support to its brokerage

business. Trust line Securities Ltd. , as a depository participant, will offer depository accounts

for individual investors as well as corporate which will enable them to transact in the

dematerialized segment, without any hassles

Depository offer a safe, convenient way to hold securities as compared to holding securities

in paper form. Our service provides an integrated single platform for all our clients ensuring arisk free, efficient and prompt depository process.

Facilities Offered by Trust line:

* Online Back office: You can view your demat account over the Internet and avail a host of

services. This facility empowers our clients to view, download, and print updated holdings

with respective valuations.

* De-materialization: You can submit your physical shares at the Trust line branch for

dematerialization into electronic form.* Re-materialization: You can also request for Re-materialization which enables you to

convert the dematerialized shares into physical form.

* Transfer: Inter and intra depository services are available through which you can transfer

shares.

* Corporate Actions: While holding your stock in demat account, in case you are eligible for

any bonus and rights issues the allotment would be transferred to your demat account.

* Easi: Facility provided by CDSL. You can view your demat account over the Internet and

avail a host of services. This facility empowers our clients to view, download, and print

updated holdings with respective valuations. Link: http://www.cdslindia.com/
http://trustline.blogspot.in/2009/04/depository.htmlhttp://www.cdslindia.com/http://www.cdslindia.com/http://www.cdslindia.com/http://www.cdslindia.com/http://trustline.blogspot.in/2009/04/depository.html


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CHAPTER-3

LITERATURE

REVIEW


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L iterature review :

INTRODUCTION:

Online trading in securities refers to the facility of investor being able to place his own

orders using the internet trading platform offered by the trading member viz., the broker. Theorders so placed by the investor using internet would be routed through the trading member.

SHARE MARKET:

A stock market or equity market is a public market (a loose network of economic

transactions, not a physical facility or discrete entity) for the trading of company stock and

derivatives at an agreed price; these are securities listed on a stock exchange as well as those

only traded privately.

TRADING :

The concept of share broking emerged after the establishment of the joint stock

companies. The ownership of the companies was divided into small parts and that every part

was called share. So, the term Share denominates some part in the ownership of the

company. The shares are freely transferable subject to the some certain restrictions. When the

need was felt to sell the shares by the owner of the shares, it was difficult to find out the buyers of the shares who want to buy the shares at the price the seller want to sell. At that

time a need was felt to bring the buyers and sellers on a common platform. To solve this

problem, a group of persons came into picture, which used to bring the buyers and sellers

together for the trade of the shares. These persons are called the share Brokers who find the

persons who wish to buy or sell their securities. The whole process of finding the buyers and

sellers of the securities by the brokers is called the Share trading.

Definitions:


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A transaction of a security or commodity.

Buying and selling securities or commodities on a short-term basis, hoping to make

quick profits.

More generally, any buying and selling of securities, commodities, goods, or services.

Types of trading:

Two types 1. Online trading

2. Offline trading

MEANING OF ONLINE TRADING:

Change is the law of nature. There were times when man was a wanderer or a

normal. He himself had to go place to place in search of food, water and now everything is

available at your doorstep just at the click of the mouse. The growth of information

technology has affected almost all sectors of life. Internet has enabled us to get every

information at our doorstep. When Intern et has affected all sectors he could stock markets

the most important player of the economy, has remained far behind? Like all other sectors

Internet has set its feet in the stock markets also.

Internet trading commissions are clearly posted on the websites of the variousservices, and are typically a fixed rate charge, depending upon the type of security being

traded and the size of trade. In theory, therefore, an Interest investor always knows what

commission he is being charged on each trade. Internet investors can take as much time as

they would like to take prior to placing a trade order. Similarly the online investor likely does

not have to worry that his broker is making unauthorized trades. Since there is no individual

broker making a commission, the only person who is authorized to trace in the account is the

actual investor. Furthermore, the internet investor can never become a victim of excessive


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trading (where for the broker) since the investor maintains total control over the number of

transactions which take place in the account.

All of these positive features of internet trading may lead the unwary investor to

believe that Internet trading is a way to take control of their finances and save more money in

the process. Unfortunately, this is not always the case. The advantages of Internet stock

trading have also its weaknesses and these weaknesses present significant drawbacks for the

average investor.

First and foremost, the average investor is not an expert in the financial markets.

There is a danger for allowing the autonomy of online trading to hull you into the belief that

you are an expert investor. An online investor sitting at home at a personal computer also

foregoes proper investment advice and financial planning, perhaps among the most valuable

services provided by traditional brokers.

There are, of course, additional risks relative to performing transactions over the

Internet especially on a shared computer. Those people whom investors have provided their

account number and password can freely trade that account while the investor will have little,

if any, resource against the brokerage firm for the breach of security.

When was online trading introduced in India?

Online trading started in India in February 2000 when a couple of brokers started

offering an online trading platform for their customers.

Why online trading entered late in India?

The Indian exchanges and brokering houses have been very slow in moving their

transactions online and the major reason has been the lots of government regulations. The

initial delay was due to laying down the specifications for creating Closed User Groups

(CUGs). This issue was resolved between the Department of Telecommunications (DoT) and

the Finance Ministry around 1998 and after that soon came the online trading portals like IL

& FS invest smart, ICICI Direct.com, motilaloswal.com, sharekhan.com etc. Connectivity

related issue was perhaps the most important technological factor. RBI made regulation that it

is mandatory for company to store at least 7year financial and transactional data.

In the non-stop, 24 hours a day, seven days a week world of investing, we are able to


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Obtain investment news around the clock.

Check quotes on exchanges all over the world - day or night.

Easily compare one investment to another via numerous ratios, charts, graphs, and

tables.

Screen for the best investments to fit our individual goals and requirements.

Trade stocks as easily and quickly as professional traders.

Calculate retirement needs based on various scenarios.

Regularly monitor portfolios and make necessary changes quickly and almost

effortlessly.

Control the routing of individual trades for the be Even many years after the launch of

the first online brokerage firm, there remain a large contingent of individual investors

who still pick up the phone and call their stock broker to buy and sell investments.

However, every year a growing number of investors are placing their trades using

online brokers.

PROCESS OF ONLINE TRADING:

An investor interesting in trading through Internet shall have to; firstly register

himself with an Internet brokerage firm. Some formalities such as filling the account opening

form of the e-broker, copies of identity proof, copy of residence proof are made to register

himself with the e-trader. Secondly, the investor would be required to open a bank account

with a scheduled bank and sufficient balance should be kept in the account.

Step-1:

Those investors interested in doing the trading over Internet system, that is, NEAT-

ISX (NSE), should approach the brokers and register with the Stock Broker.

Step-2:

After registration, the broker will provide to them a login name, password and a

personal identification number (PIN).

Step-3:

Actual placement of an order, using the place order window as under can then place

an order:


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a) First by entering the symbol and series of stock and other parameters such as

quantity and price of the scrip on the place order window.

b) Second, fill in the symbol, series and the default quantity.

Step-4:

It is the process of review. Thus, the investor has to review the order placed by

clicking the review option. He may also re-set to clear the values.

Step-5 :

After the review has been satisfactory; the order has to be sent by clicking on the sendoption.

Step-6:

The investor will receive an Order Confirmation message along with the order

number and the value of the order.

Step-7:

In case the order is rejected by the Broker or the Stock Exchange for certain reasons

such as invalid price limit, an appropriate message will appear at the bottom of the screen. At

present, a time lag of about ten seconds is there in executing the trade.

Step-8:

It is regarding charging payment, for which there are different modes. Some brokers

will take some advance payment from the, investors and will fix their trading limits. When

the trade is executed, the broker will ask the investor for transfer of funds by the investor to

his account.


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Mechanism of online trading:

Place an order onthe net on the

brokers website

through thedistinctive I.D.

Client

Accept the order,checks the idea

and place theorder with the

stock exchange.

Broker

Accept the orderafter checking thescript limit of the

broker for the day.Execute the order.

Stock Exchange

The settlement ofthe deal (buy and

sell order) getsreflected in thedemat account.

The client isintimated about the

execution of thedelay by e-mail paysthe broker pendingphysical delivery.

Pays the exchangethrough his account

and received itsfrom the clients

account.

Receive the moneycomplete thesettlement.


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one can still hold the share in the physical form which has your name endorsed on it, and is

proved that you are a part owner of the company. Your ownership rights are proportionate to

the number of share you own. Companies issue shares of a certain fixed denomination, called

face value or par value of that share, which is clearly indicated on a share certificate in the

physical form.

2. Investment :

Investment essentially refers to what you do with your savings in order to preserve

them and make them grow or yield an income. If you keep your savings in the form of cash,

they are certainly going to diminish in value because the purchasing power of money is

constantly going down as a result of inflation. (The value of money is judged by the quantity

of goods and services you can buy with it). Therefore, if you want to maintain or increase the

value of your savings, you have to keep them in forms other than cash. This is what

investment is all about, deployment of your saving with the intentions of preserving or

increasing their value. This deployment can be done by using your savings to buy land,

residential properties, commercial properties, gold, jewelry, works of art, fixed deposits in

banks and companies, shares, bonds, in fact, anything whose value is likely to either remain

constant or appreciate with time. Investment also refer to using on es savings with the

intention of earning an income.

3. Demat A/c :

On doing an online business ever customer has to open and demat account in any

bank whichever he likes. Demat account is the account in which the trading done by the

customer is mentioned. If the customer sales or purchases any share the details of this sale

and purchasing are in demat account. This account contents the name of the shares and also

the number of shares held or sold and also the rate of the share with this demat account. It is

also compulsory for every customer to open a saving account in the bank because the amount

which is to be received when the customers sales the shares are transferred from the demat

account to the saving account.

It is the responsibility of the customers that the share which he purchased or sales are

properly transferred in demat account from the stock exchange whichever he deals. The

amount of dividend whichever to be received on the shares when held for one or more year

are also transferred in this demat account. It is compulsory for every customer to have a PAN


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no. For opening an demat account. If PAN no. Is not there is no chance for the customer to do

any trading on line. There is no limit of amount to deal in this account.

4. Trading Account :

An account similar to a traditional bank account, holding cash and securities, and is

administered by an investment dealer. Though trading accounts are traditionally thought to

hold only stocks, a trading account can hold cash, foreign cash, securities and a number of

other types of investments.

Difference between trading account and demat account is trading account is only for a

specific branch & demat account is global means in all branch.

5. Sensex:

When the shares are issued to the public the stock exchange gives a particular group

to the company. For ex. The Reliance Group is given the group A like this there are several

companies which fall in A Group. The weightage mean is calculated according to its equity

when all the companies of Group A has calculated this weightage mean they are added all

together when this addition is done the result which comes down is known as Sensex .

The trading of shares of A group is totally depended on this sensex value. The price

of the share rises this sensex value also rises and when the price of this share comes down the

sensex value also comes down with the sensex.

6. Scripts:

The company, which has more than one working area, it has to issue the share

separately than that company is the company which has the script of its name. For Ex. The

Reliance this company has its several working area Namely Reliance, Capital Reliance,Infocom Reliance Energy, Reliance Industry. So reliance company issues separate share for

separate working area but the bold name which is given to the working area is Reliance . So

in this case Reliance has its own scripts. Other example Ambuja, Birla etc.

7. Groups:

When the shares are issued by the company they are given the particular group by the

Stock exchange according to its demand in the market. There are mainly 7 groups.


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ADVANTAGES OF ONLINE TRADING:

1. Provides with the Freedom of Information :

The Internet provides a new sense of controlling our financial future as the amount of

investment information available online is truly outstanding. An investor can

Know the price of any stock he desires at any point time on the internet.

An investor can review the price history of any stock in chart format online.

An investor can follow in-depth the events happening in the market.

Helps an investor in receiving a wealth of free commentary and analysis about stock

markets in the global economy.

Helps an investor to conduct an extensive financial research of any company he

desires.

He may also consult with other investors online present around the world.

Some online stock broking companies provide real-time stock quotes, daily roundups

of the stock market, expert commentary, and a deep community of fellow investors.

2. Provides Control to Investors Money :

When an investor wants to buy or sell stock he no longer need to call his broker on the

phone thus helping in the execution of the order instantly on the internet.

3. Provides access to the market:

Through the sophisticated information streams, dedicated trading platforms andsophisticated tools the investor can access the markets which provides more agility in buying

and selling stocks.

4. Ensures the best price for investors :

Some companies like Invests mart (IL & FS) specialize in the techniques which offers

the best price deals for the buy and sell orders of the investors and traders providing the high

level of transparency by displaying of information relating to the specific stocks andcompany profiles which helps in getting the best quote for the orders.


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5. Online trading offers greater transparency :

Online trading offers the investors with greater transparency by providing with an

audit trail. The process involves a complete integrated electronic chain starting from order

placement, to clearing and settlement and finally ending with a credit into the depository

account of the investor. All these stages are inspected which brings the transparency into the

system.

6. Provides hassle free trading:

Online trading provides an integration of the bank account, trading account and demat

accounts, which leads to easy and paperless trading for the client.

7. Online trading allows instant trade execution:

Online transactions helps in the quick execution of the entire trading transaction right

from logging to the traders site and to the settlement of the bank account in a very short

period of time.

8. It provides a level playing field:

Trading online gives even the smallest retail investor access to information which was

earlier available only to the big traders. It has provided with a level playing field for all

investors in the securities market.

9. Online trading reduces the settlement risk:

This method of trading reduces the settlement risk for the investor as when a short sell

order is played the orders are squared off at the specified cut-off time and are not allowed to be carried forward.

10. Provides live financial news & analysis:

The online sites also provide live terminals which provide streaming news to give

investor the latest financial information as it occurs.


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11. Online help desk:

Some companies provide online help desk an investor cancan contact the Tele

Trading Executives from the Tele Trading team during and after market hours and can clarify

questions.

12. Instant order trade confirmations:

Through online trading every trade is confirmed immediately and investor receives an

on-screen confirmation following every trade with full details for the investors records which

avoids costly errors that would have been discovered when it is too late.

13. Keeps Information Secure:

As per the guideline provided by SEBI every effort has to be made to keep the

investors account and personal information secure by use of encryption technology and

updated security technology to advanced fraud prevention measures.

DISADVANTAGES OF ONLINE TRADING:

1. In online terminal, investor can't get customized expert advice, whereas in offline the broker gives suggestions according to investors strategy (i.e. short term or long-term).

2. Brokerage is highly comprises to off-line.

3. Privacy is less due to hacking scandals.

4. Transactional errors due to technical problems.


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TYPES OF ONLINE TRADING:

1. Equity market trading.

2. F/O trading (future and option).

1. Equity market trading :

This type trading is done in both NSE and BSE.

Equity market trading includes trading of stocks of all the companies listed in BSE

and NSE.

In the equity market trading there is two modes of trading.

1. Intraday Trading.

2. Delivery Based Trading.

1. Intraday Trading:

Intraday Trading is the most popular Trading that many Traders use this type trading

to cash their money soon. If you buy and sell shares in a single day then the type of Trading

is called as Intraday Trading. In Intraday Trading you can sell shares within seconds, minutes

and hours after you buy, whenever you want and when your you feel that your profit Target

has been reached. But all the shares you bought with the intraday option should be sold 20minutes prior to the closing time. The general closing time of Stock Market is 3:30 pm. So

you should sell all your shares those you bought with intraday option should be sold before

3.10pm. Remember if you sell the shares which bought on previous Trading day, then it will

not be considered an Intraday Trading. In Intraday Trading if you buy shares on 22 nd you

should sell them on 22 nd itself. Intraday Trading gives you high profits when you analyze and

trade perfectly and also makes you big loss if you don't trade perfectly.

The great advantage of Intraday Trading is that, in Intraday Trading brokerage is very

less. Intraday Brokerage is just about 0.02% to 0.04% depending on the broker you choose.

And the disadvantage of Intraday Trading is that, In Intraday Trading fear of loss of money is

more compared to other types of trading. So you may also book more losses in Intraday

trading if you do wrong analysis. As we cannot guarantee returns on our Investment in

Intraday Trading you should be ready for loses that may occur when you Trade. You should

know all the current news and issues about share market and analyze the shares that you buy

with more care if you want to Trade in Intraday Trading.


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2. Delivery based Trading:

Delivery based trading is the most common form share trading done by most of the

stock market investors throughout the world. In this type of trading the investors have to pay

the full price of the stock and the stocks are deposited in their demat account. There is no

predefined time limit in case of the delivery based trading for selling the stocks. Like all other

forms of stock trading delivery based trading also comes with its pros cons.

Advantages of delivery based trading :

The biggest advantage of delivery based trading is that you are not bound with time

for selling the stock. You can hold the stocks for as long as you want. So, you can

always hold a stock until you are getting a significant profit from the investment.Therefore, with delivery based trading you can always take your time to take a

decision and reduce the risk of losses.

When you are making a long term investment with delivery based trading, you can

also benefit from other things like dividends, split of stocks, bonus shares and so on.

These are benefits that the companies offer to their share holders from time to time

and you can make significant profit from these offers if you are holding the stocks for

long periods.

Disadvantages of deliver based trading :

The biggest disadvantage of delivery based trading is the higher brokerage rate. The

brokerage rate for delivery based trading is relatively higher than the margin trading.

You have to pay the full price of the stock for deliver based trading, whereas,

in case of margin trading you can buy stocks by paying only a part of the stock price.

So, in case of margin trading you can buy more stocks by investing less,

In delivery based trading you can never benefit from short selling. That means you

have to hold the shares before you actually sell them.

These are the benefits and disadvantages of delivery based trading. Whether

you invest through delivery based trading or not solely depends on your financial

capacity and willingness to take risks.


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SOME IMPORTANT TERMS AND DEFINATIONS IN EQUITY MARKET

ONLINE TRADING:

Circuit Limit :

While issuing the shares to the public the company has to fix a particular limit of the

rate of the per share this limit is called as circuit limit. This circuit limit is generally fixed on

the percentage basis. This circuit limit is applied to both the ends of the share. That is to the

upper limit also and also to the lower limit actually circuit limit is of two types :

1) Upper limit.

2) Lower limit.

It is compulsory for every company to fix the circuit limit. This limit is beneficial to

both. The customer and also to the company generally every company fix below l0% of the

rate of per share.

Upper Limit:

While issuing the shares to the public the company has to fix the upper limit this limit

is also calculated in percentage the limit is also beyond which the rate of the shares cannotexceed nor that the customer doing the trading can sell above the level. For ex. Customer

wants to sell a share which is of Rs. 10 and its upper limit is fixed at 10% so in this case the

person will have to sell it at Rs. 11 or the rate whichever he wants but the person cannot sell

it beyond this Rs. 11 because by addition of upper limit to the rate of share the maximum

amount of the shares is Rs. 11 only and not above.

Lower Limit:

At the time of issuing share the company has to fix the lower limit also. This lower

limit is calculated on the basis of the rate of the shares. This limit bears the same percentage,

which is mentioned for the upper limit of the share. Like upper limit in this limit also the

share minimum rate of the share is fixed the customer who wants to see; the holding shares

has to first consider the upper& lower limit of the share he cannot sell the share below the

lower limit and not above the upper limit like the upper limit Percentage generally in this


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limit also the percentage is below 10% of the face value of the shares the percentage is below

10% of the face value of the shares the percentage of the upper & lower limit is equal to

every type of share. For ex. Suppose the person wants to sell the shares and the rate of the

share is Rs. 10/- and the lower limit percentage is 10% of the rate. So in this case the person

cannot sell the share at below Rs. 9/-. He will have to sell at above Rs. 9/- or up to the upper

limit of the share.

Pay-In :

Pay-in day is the day when the securities sold are delivered to the exchange by the

sellers and funds for the securities purchased are made available to the exchange by the

buyers.

Pay-Out:

Pay-out day is the day the securities purchased are delivered to the buyers and the

funds for the securities sold are given to the sellers by the exchange.

At present the pay-in and pay-out happens on the 2nd working day after the trade is

executed on the stock exchange.

Auction :

On account of non delivery of securities, by the trading member, the securities are put

for auction by the exchange. This ensures that he buying trading member receives the

securities on time. Non-delivery by the selling trading member can arise on account of short

delivery and deliveries not rectified. The exchange purchases the requisites quantity in the

auction market and gives them to the buying trading member.

Rolling Settlement :

Under rolling settlement all open positions at the end of the day mandatorily result in

payment! Delivery n days later. Currently trades in rolling settlement are settled on T+2

basis where T is the trade day. For example, a trade executed on Monday is mandatorily

settled by Wednesday (considering two working days from the trade day). The funds and

securities pay-in and pay-out are carried out on T+2 days.


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Settlement cycle schedule :

T Trading Day

T+l Pay-in by 10.30 A.M

T+2 Pay-out by 2 P.M

T+3 Auction of shortage in delivery

T+5 Auction Pay-in by 10.30 A.M

2.F/O MARKET :

F/O market is future & option market.

FUTURES MARKET:

It is different from equity market.

Unlike the equity market here an investor can buy stocks value more than the money

available in his account by giving the margin money.

For e.g.- suppose the price of SBI stock in nifty future is 2300/- today, an investor

wants to buy this, the lot size of SBI is 125 so total amounts is 2300*1250=287500.

But if he has not that amount of money in his account. In that case by giving the

margin money the investor can buy this stock.

But here the investor has to give the margin money by next day 12.00 pm means the

cash settlement is T+1 basis.

After buying the stocks the investors has to sell within a specified date.

Nifty future is closed last Thursday of every month.

If the investor will not sell the contract will be broken.

An investor can also carry forward the contract to next month.

It is just like commodity trading which is discussed later in this report.

It is a standardized contract with standard underlying instrument, a standard quantity

and quality of the underlying instrument that can be delivered, (or which can be used

for reference purposes in settlement) and a standard timing of such settlement.

The standardized items in a futures contract are:


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Quantity of the underlying.

Quality of the underlying.

The date and the month of delivery.

The units of price quotation and minimum price change.

Location of settlement

Contract specification: Stock futures:

Trading cycle The futures contracts will have a maximum of three month

trading cycle - the near month (one), the next month (two) and

the far month (three). New contract will be introduced on the

next trading day following the expiry of near month contract.

Expiry day The last Thursday of the expiry month or the previous trading

day if the last Thursday is a trading holiday.

Settlement In Cash on T+l Basis.

Settlement price Daily settlement price will be the closing price of the futures

contracts on the trading day and final settlement price will be

the closing price of the underlying on the last trading day of theoptions contract.

Futures terminology:

Spot price: The price at which an asset trades in the spot market.

Futures price: The price at which the futures contract trades in the futures market.

Contract cycle: The period over which a contract trades. The index futures contracts

on the NSE have one month, two-month and three month expiry cycles which expire

on the last Thursday of the month. Thus a January expiration contract expires on the

last Thursday of January and a February expiration contract ceases trading on the last

Thursday of February. On the Friday following the last Thursday, a new contract

having a three month expiry is introduced for trading.

Expiry date: It is the date specified in the futures contract. This is the last day on

which the contract will be traded, at the end of which it will cease to exist.

Contract size: The amount of asset that has to be delivered under one contract. Also

called as lot size.


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Initial margin: The amount that must be deposited in the margin account at the time

a futures contract is first entered into is known as initial margin.

OPTIONS:

Options are fundamentally different from forward and futures contracts. An option

gives the holder of the option the right to do something. The holder does not have to exercise

this right. In contrast, in a forward or futures contract, the two parties have committed

themselves to doing something. Whereas it costs nothing (except margin requirements) to

enter into a futures contract, the purchase of an option requires an upfront payment.

Two types of option: 1. call option.

2. Put option.

1. Call option:

A call option gives the holder the right but not the obligation to buy an asset by a

certain date for a certain price.

2. Put option:

A put option gives the holder the right but not the obligation to sell an asset by acertain date for a certain price.

All stock trading depends on 2 terms. Either you could be bullish or bearish.

Depending on whether you are bullish or bearish on the underlying stock, you could purchase

either a call option or a put option.

Buying a call Option:

When you buy a call option, you hold the right to buy a specified quantity of theunderlying stock at the strike price on or before the expiration date.

If you are bullish on a stock you could purchase a call option at a predetermine

(Called it as the strike price) that is lower than the appreciation you expect then, if all goes

well and the stock price does rise beyond the strike price + the premium you have paid, on or

before the expiration of the contract, you can exercise your option to buy the stock at the

strike price and simultaneously sell it in the spot market i.e. the cash market to book your

profit.


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If, on the other hand the price of the stock in the cash market does not rise beyond the

strike price + premium, you can let the contract lapse, i.e. you do not buy the underline stock

at the strike price. Your loss in such a case would be premium you have paid. However in

India equity options and futures are currently cash settled and are not settled by delivery.

Example

Current spot price per share = Rs. 100.

Premium payable per share= Rs. 10.

ABC company has a lot size = 50 shares.

If the spot prices rises to Rs 120 per share before the contract expires you could

exercise your option to buy the shares at Rs 100 and then sell them in the market for Rs 120.Your profit in this transaction would be Rs. 500 (Sale price of Rs 120 x 50 - purchase of 100

x 50)- premium of 10 x 50).

If, on the other hand if the price does not go beyond Rs 100 until the expiry date, you

could just let the contract lapse. In this case, your loss would be equal the premium that you

have paid i.e. Rs 500.

Buying a put Option:

When you buy a put option, you hold the right to sell a specified quantity of the

underlying stock at the strike price on or before the expiration date.

If you are bearish on a stock you could purchase a put option at a pre-determine

(strike price) that is higher than the fall you expect in the price of the stock.

If all goes well and the stock price does fall beyond the strike price the premium you

have paid, on or before the expiration of the contract, you can exercise your option to sell the

stock at the strike price and simultaneously buy it in the spot market i.e. the cash market to

book your profit.


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CH APTER 4

Data analysis and

interpretation


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SURVEY BASED ON QUESTIONNAIRE, ANALYSIS &

INTERPRETATION

ANALYSIS & INTERPRETATION:

1. What is your educational qualification?

Higher Secondary Senior Secondary

Graduates Post Graduates

Professional Degree Holder

Sample size 100

Interpretation:

According to the survey 49% of people Graduates, only 2% people are Higher

Secondary, 11% are Senior Secondary, 16% are Post Graduates and 22% people are

Professional Degree. So from this we can say that majority of the people are graduates who

can understand what is stock market they are doing on-line trading. Only few below Higher

Secondary they are doing on-line trading.

2%

11%

49%

16%

22%

0%

10%

20%

30%

40%

50%

60%

HigherSecondary

SeniorSecondary

Graduates Post Graduates ProfessionalDegree Holders

QUALIFICATION OF PEOPLE


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2. What is your annual income?

Below 1000000 100000-200000

200000-300000 300000-400000

More than 400000

Sample size 100

Interpretation:

According to this survey I find that 58% respondent are having the income level of 100000-

200000, 21% is having 200000-300000, 12% in having 300000-400000, 7% of the total

respondent are having income more than 400000 per annum and only 2% are having less than

100000 per annum.

To invest in the stock market minimum 100000 or more than this should be the annual

income level of the people. In India the per capita income in also increasing so we can say

that there is a good opportunity for the inline trading market.

2%

58%

21%15%

7%

0%

10%20%

30%

40%

50%

60%

70%

INCOME LEVEL


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3. What percentage of your monthly income could be available for

investment?

Less than 5% 5% - 10%

10% - 15% 15% - 20%

More than 20%

Sample size 100

Interpretation:

According to the data 23% of the total respondent invest less than 5% of their income, 41%

respondents are saying that they invest 5%-10% of their monthly income (which is highest).

Whereas the 21% investor do the investment 10%-15% of their total monthly income, 13

invest between 15%-20% of the total income and only 2% does more than 20% of their

income invest in the market.

We can easily understand that 75% of the total population is having a good amount of

investment, so the investment is there in the market; good number of people are ready to

invest a good amount in the market.

23%

41%

21%

13%

2%

0%

5%

10%

15%

20%

25%

30%35%

40%

45%

Less than 5%-10% 10%-15% 15%-20% More than 20%

INVEST FROM MONTHLY INCOME


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4. For how long you have been trading with on line-trading?

1 year 2 year

3 year 4 year

Sample size 100

Interpretation:

According to this survey I find that 44% people says that we are investing the money

online from six months and 32 people says that we are investing the money online from 1

year and 24% people says that we are investing money online from 1.5 years and no one says

we are investing money from 2 years because Karvy stared it before 1.5 years. So we can say

that now online trading is very popular in the modern market and market share means online

trading customers are increasing day by day for Karvy stock broking limited.

5. How will you describe your experience with on-line trading till date?

Very easy to operate Very difficult to operate

No idea Any other

Sample size 100

44%

32%

24%

0%0%

5%

10%

15%

20%

25%

30%

35%40%

45%

50%

6 Months 1 Year 1.5 Years 2 Years

NO. OF YEARS


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Interpretation:

According to this survey I find that 60% of people find very easy to operate and 15%

people find difficult to operate and 10% and 15% people find no secure and any other. So we

can say that online trading is very simple to operate and easy to understand.

6. What amount of money you invest normally?

5000 to 10000 10000 to 50000

50000 to 1000000 More than 100000

Sample size 100

60%

15%10%

15%

0%

10%

20%

30%

40%

50%

60%

70%

Very easy tooperate

Very difficult tooperate

No idea Ok

EXPERIENCE


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Interpretation:

According to this survey we find that 11% of people invest money normally 5000-

10000 and 39% of people invest money 10000 to 50000 and 22% of people invest money

50000-100000 and 28% of people invest money more than 100000. So we can say that the

people are not investing more money in the share market because there is a great risk

involved while doing the trading.

7. In which mode you are trading?

Delivery Intraday

Both

Sample size 100

11%

39%

22%

28%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

5000-10000 10000-50000 50000-100000 More than 100000

MONEY INVESTED


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Interpretation:

According to this survey I find 42% of people are doing delivery mode of trading,

11% people are doing intraday mode of trading and 47% both mode. So by this we can say

that people dont want to take risk thats why most of the people are doing delivery mode of

trading.

8. Which trading you prefer?

Online trading Offline trading

Both

Sample size 100

11%

42%

47%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Intraday Delivery Both

TYPE OF TRADING


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Interpretation:

According to this survey we find that 65% people prefer online trading and 8% people

prefer offline trading rest of 27% people p refers both. So we can say that mostly people are

aware about the online trading and because of this reason the mostly people are optimizing

online trading.

9. What shortcomings do you feel in Indian on-line trading?

Lack of awareness the investors about on-line trading

Shortage of domestic technical expertise

Shortage of Infrastructure

Any other

Sample size 100

65%

8%

27%

0%

10%

20%

30%

40%

50%

60%

70%

Online trading Offline trading Both

RELATIONSHIP


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Interpretation:

According to this survey I find that 27% of people say lack of awareness 49% says

shortage of expertise and only 2% people says shortage of infrastructure and 22% says any

other. So we can say that mostly people are shortage of experience about the Indian

derivatives market of share market.

10. Which media creates more awareness?

T.V. Newspapers

Magazines Journal

Sample size 100

27%

49%

2%

22%

0%

10%

20%

30%

40%

50%

60%

Lack of awareness Shortage of technical expertise

Shortage of infrastructure

Any other

SHORT COMINGS


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Interpretation:

According to this survey we find that 69% people prefer T.V. and 22% people prefer

newspaper and 6% people prefer magazines and rest 3% people prefer journals. So we can

suggest that mostly people are very easily grapped the knowledge through T.V. and it is

simple media also.

69%

22%

6% 3%0%

10%

20%

30%

40%

50%60%

70%

80%

T.V Newspapers Magazines Journal

PREFERRED MEDIA


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CHAPTER-5I . Findings

I I . Suggestion

I I I . Conclusion


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CONCLUSION

I. After having the practical knowledge of online trading and the

work of TRUST LINE as a stock broking house I am very

glad that I got a chance to work such wonderful organization.

I am sincerely grateful to all members of TRUST LINE for

allowing me to do summer project in their organization.

II. At the end I want to suggest that TRUST LINE must take

extra care of its consumers so that it can become the number

one stock broking house of the country and more and more

awareness among the general people regarding online trading

can increase.


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CHAPTER 6

I. BIBLIOGYAPHY

II.

REFERENCESIII. ANEXTURE

(QUESTIONNAIRE)


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BIBLIOGRAPHY

Reference

Books

1. C.R. Kothari. (2006) Research methodology

2. Gordon Natarajan, Financial Market and Services.(Himalaya Publishing)

Websites

3. www.nseindia.com

4. www.bseindia.com

5. www.trustline.com

6. www.wikipedia.com

7. www.google.co.in
http://www.trustline.com/http://www.trustline.com/http://www.wikipedia.com/http://www.wikipedia.com/http://www.google.co.in/http://www.google.co.in/http://www.google.co.in/http://www.wikipedia.com/http://www.trustline.com/


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Annexure

Questionnaire

Name: Date:

Age: Male/female:

Address:

Occupation:

1. What is your educational qualification?

Higher Secondary Senior Secondary

Graduates Post Graduates

Professional Degree Holder

2. What is your annual income?

Below 1000000 100000-200000

200000-300000 300000-400000

More than 400000.

3. What percentage of your monthly income could be available for

investment?

Less than 5% 5% - 10%

10% - 15% 15% - 20%

More than 20%


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4. For how long you have been trading with on line-trading?

1 year 2 year

3 year 4 year

5. How will you describe your experience with on-line trading till date?

Very easy to operate Very difficult to operate

No idea any other

6. What amount of money you invest normally?

5000 to 10000 10000 to 50000

50000 to 1000000 More than 100000

7. In which mode you are trading?

Delivery Intraday

Both

8. Which trading you prefer?

Online trading Offline trading

Both

9. What shortcomings do you feel in Indian on-line trading?

Lack of awareness the investors about on-line trading

Shortage of domestic technical expertise

Shortage of Infrastructure

Any other


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10. Which media creates more awareness?

T.V. Newspapers

Magazines Journal

11. Which is the best online service provider broking company in India?

Sharekhan karvy

Trustline India info line

Any other (please specify)

12. Any suggestion:

Documents

Online Trading Trustline Debashis