Study of Various Approaches and Prediction Models for Indian Stock Market with Reference to NIFTY50 Index

An Indian Stock Market serves as an open platform for businesses and individuals to generate revenues through the buying and selling of shares. The price of shares is influenced by factors such as interest rates and supply. Trading activities involve the purchase and sale of shares, typically limited to listed companies. Stock exchanges worldwide witness significant volumes of monetary transactions. Given the interconnection of national economies, the performance of stock markets holds substantial implications. Furthermore, the uncertain and unpredictable nature of stock prices adds to the challenge of stock price prediction, making it an important and demanding process. This research paper presents a prediction model for the Indian stock market, focusing specifically on the NIFTY 50 index. The study explores various approaches and methodologies used for forecasting the index and evaluate their effectiveness. The findings of this research paper contribute to the development of more accurate, robust, and comprehensive prediction models for the Indian stock market, specifically the NIFTY 50 index, thereby assisting stakeholders in making informed decisions and enhancing the overall efficiency and stability of the market.