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Fuzzy Logic Based Tools for Business Applications: An Indian Perspective

This research paper is based upon a survey on the application of fuzzy logic systems in forecasting Sensex market prices. With their ability to discover patterns in nonlinear and chaotic systems, fuzzy systems offer the ability to predict market directions more accurately than current techniques. Common market analysis techniques such as technical analysis, fundamental analysis, and regression are discussed and compared with fuzzy systems performance. Also, the Efficient Market Hypothesis (EMH) is presented and contrasted with chaos theory and fuzzy logic based tools. A fuzzy system is developed using the past three years Sensex prices (taken at daily frequency) and simulated in MATLAB environment. Finally, future directions for applying hybrid models to the financial markets are discussed. The research study was conducted in the Indian context.