Abstract
The study examines the performance of beta-based equity portfolios using dynamic technical trading strategies, over a 27-year period. Using a daily stock prices data of NSE 500 firms, the study compares SMA/EMA performance with the buy-and-hold (BH) benchmark across trading horizons from very short to very long (5, 10, 20, 50, and 100 days). The results highlight that mid-beta portfolios deliver the most consistent performance, generating positive net alphas and returns, particularly at 20- to 50-day moving average lags, demonstrating resilience to transaction cost impacts. The findings are robust even with the consideration of risk adjusted measures.