This study is aimed at undertaking technical analysis of selected companies included in the CNX Nifty. Technical Analysis is widely used by traders for trading decisions in the stock market especially intraday trading. Various technical indicators like the moving averages or momentum indicators assist the traders in decision making. One such trend indicator is the Moving Average Convergence and Divergence (MACD) indicator. This working paper analyses the application of MACD indicator on selected five stocks from the National Stock Exchange (NSE). Certain precautionary measures have also been suggested for successful implementation of the indicator. This project also demonstrates how MACD can be of valuable use for the investors in marking their investment decisions.