I. Introduction
The successful prediction of future price of stock index and its direction of movement may not only helpful for the investors to make effective trading strategies, but also for policy maker to monitor stock market. Keeping track of upswings and downswings over the history of individual stocks will reduce the uncertainty associated to investment decision making. Investors can choose the best times to buy and sell the stock through proper analysis of the stock trends. Hence developing more realistic models to predict the rise and fall situations in the stock price index movement is a big challenge for most of the investors and professional analysts. In literature a number of models combining technical analysis with computational intelligent techniques are available for prediction of stock price index movements [1]–[4].