A Deep Reinforcement Learning Framework for Strategic Indian NIFTY 50 Index Trading Raj Gaurav Mishra, Dharmendra Sharma, Mahipal Gadhavi, Sangeeta Pant, Anuj Kumar AI Switzerland, 2025 This paper presents a comprehensive deep reinforcement learning (DRL) framework for developing strategic trading models tailored to the Indian NIFTY 50 index, leveraging the temporal and nonlinear nature of financial markets. Three advanced DRL architectures deep Q-network (DQN), double deep Q-network (DDQN), and dueling double deep Q-network (Dueling DDQN) were implemented and empirically evaluated. Using a decade-long dataset of 15-min interval OHLC data enriched with technical indicators such as the exponential moving average (EMA), pivot points, and multiple supertrend configurations, the models were trained using prioritized experience replay, epsilon-greedy exploration strategies, and softmax sampling mechanisms. A test set comprising one year of unseen data (May 2024–April 2025) was used to assess generalization performance across key financial metrics, including Sharpe ratio, profit factor, win rate, and trade frequency. Each architecture was analyzed in three progressively sophisticated variants incorporating enhancements in reward shaping, exploration–exploitation balancing, and penalty-based trade constraints. DDQN V3 achieved a Sharpe ratio of 0.7394, a 73.33% win rate, and a 16.58 profit factor across 15 trades, indicating strong volatility-adjusted suitability for real-world deployment. In contrast, the Dueling DDQN V3 achieved a high Sharpe ratio of 1.2278 and a 100% win rate but with only three trades, indicating an excessive conservatism. The DQN V1 model served as a strong baseline, outperforming passive strategies but exhibiting limitations due to Q-value overestimation. The novelty of this work lies in its systematic exploration of DRL variants integrated with enhanced exploration mechanisms and reward–penalty structures, rigorously applied to high-frequency trading on the NIFTY 50 index within an emerging market context. Our findings underscore the critical importance of architectural refinements, dynamic exploration strategies, and trade regularization in stabilizing learning and enhancing profitability in DRL-based intelligent trading systems.
An Overview and Comparison of Axiomatization Structures Regarding Inconsistency Indices’ Properties in Pairwise Comparisons Methods: A Decade of Advancements Sangeeta Pant, Anuj Kumar, Jiří Mazurek International Journal of Mathematical Engineering and Management Sciences, 2025 Mathematical analysis of the analytic hierarchy process (AHP) led to the development of a mathematical function, usually called the inconsistency index, which has the center role in measuring the inconsistency of the judgements in AHP. Inconsistency index is a mathematical function which maps every pairwise comparison matrix (PCM) into a real number. An inconsistency index can be considered more trustworthy when it satisfies a set of suitable properties. Therefore, the research community has been trying to postulate a set of desirable rules (axioms, properties) for inconsistency indices. Subsequently, various axiomatic frameworks for these functions have been proposed independently. However, the existing literature remains fragmented and lacks a unifying framework. Therefore, the objective of this article is twofold. Over the past decade (2014-2024), significant progress has been made in the axiomatization of inconsistency indices' properties. In this article, we first provide a comprehensive review of these advancements. We then critically evaluate and compare the aforementioned axiomatic structures, discussing future research directions.
Magneto-Viscosity and Spin-Up Dynamics of Ferrofluids Between Parallel Plates A Bhandari Journal of Tribology, 1-25 , 2026 2026
Ferrohydrodynamic natural convection over a hydrophobic stretching surface A Bhandari Radiation Effects and Defects in Solids, 1-18 , 2026 2026
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HEAT TRANSFER ANALYSIS OF FERROHYDRODYNAMIC FLOW IN A CYLINDRICAL VESSEL FOR THE TREATMENT OF POROUS TUMOR M Mehta, A Bhandari Journal of Porous Media 29 (4) , 2026 2026
Bioconvective Ferrohydrodynamic Flow in a Cylindrical Vessel Encircled by a Tumor M Mehta, A Bhandari Heat Transfer , 2026 2026
Significance and Limitations of Theoretical Models in Ferrohydrodynamics A Bhandari Heat Transfer 55, 241-251 , 2026 2026
Advancement in biomedical applications of ferrofluids M Mehta, A Bhandari Journal of the Brazilian Society of Mechanical Sciences and Engineering 47 … , 2025 2025 Citations: 8
Effect of convective heating on the chemically reactive Williamson fluid flow over a stretching cylinder with Arrhenius activation energy and thermal radiation M Kumar, A Kumar, A Bhandari Radiation Effects and Defects in Solids, 1-25 , 2025 2025
Multiphase ferrofluid flow in a rotating system A Bhandari Pramana 99 (2), 67 , 2025 2025
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Investigating ferro-liquid flow in a rotating and stretching deformed cone A Bhandari Numerical Heat Transfer, Part A: Applications 86 (4), 905-918 , 2025 2025 Citations: 3
Effect of thin film thickness of ferrofluid on inclined bioconvective flow A Bhandari Chinese Journal of Physics 92, 959-974 , 2024 2024 Citations: 4
A brief review of transitional wetting regimes for superhydrophobic surfaces J Sharma, A Bhandari, N Khatri, S Jangra, MS Goyat, YK Mishra Journal of the Brazilian Society of Mechanical Sciences and Engineering 46 … , 2024 2024 Citations: 8
Advancement of Analytical Model for Hydrophobic Rectangular Pillared Array on Al-Surface and Its Experimental Validation S Jaishree, A Bhandari, N Khatri, B Singh, S Jangra, A Husain, A Kumar, ... International Journal of Precision Engineering and Manufacturing 25 (5), 947-958 , 2024 2024 Citations: 1
Modeling of electrically conducting fluid flow over a rotating disk A Bhandari, A Husain Modeling and Simulation of Fluid Flow and Heat Transfer, 86-95 , 2024 2024
Sol–gel derived highly hydrophobic Polystyrene/SiO 2 spray coatings on polished stainless steel and textured aluminium substrates J Sharma, A Bhandari, S Jangra, MS Goyat Transactions of the IMF 102 (2), 77-82 , 2024 2024 Citations: 10
Exploring slip effects of ferrofluid film flow over a slanted rough surface A Bhandari, KPS Parmar Journal of Fluid Mechanics 982, A19 , 2024 2024 Citations: 10
Bio-convective maxwell ferrofluid flow over a flexible spinning surface A Bhandari Medical Engineering & Physics 125, 104123 , 2024 2024 Citations: 1
Impact of a magnetic dipole on heat transfer in non-conducting magnetic fluid flow over a stretching cylinder A Bhandari Fluid Dynamics & Materials Processing 20 (3), 475 , 2024 2024 Citations: 5
Convective non-conducting magnetic fluid flow and heat transfer due to the rotating cone in the presence of magnetic dipole A Bhandari, KPS Parmar Pramana 97 (4), 185 , 2023 2023 Citations: 1
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Effect of magnetic field-dependent viscosity on revolving ferrofluid P Ram, A Bhandari, K Sharma Journal of Magnetism and Magnetic Materials 322 (21), 3476-3480 , 2010 2010 Citations: 82
Study of ferrofluid flow in a rotating system through mathematical modeling A Bhandari Mathematics and Computers in Simulation 178, 290-306 , 2020 2020 Citations: 32
Water-based ferrofluid flow and heat transfer over a stretchable rotating disk under the influence of an alternating magnetic field A Bhandari Proceedings of the Institution of Mechanical Engineers, Part C: Journal of … , 2021 2021 Citations: 28
Negative viscosity effects on ferrofluid flow due to a rotating disk P Ram, A Bhandari International Journal of Applied Electromagnetics and Mechanics 41 (4), 467-478 , 2013 2013 Citations: 27
Superhydrophobic coatings by the hot embossing approach: recent developments and state-of-art applications MSG Jaishree, A. Bhandari, N. Khatri, Y.K. Mishra Materials Today Chemistry 30, 101553 , 2023 2023 Citations: 26
Study of magnetoviscous effects on ferrofluid flow A Bhandari The European Physical Journal Plus 135 (7), 537 , 2020 2020 Citations: 26
Optimization of heat transfer properties on ferrofluid flow over a stretching sheet in the presence of static magnetic field A Bhandari, A., Husain Journal of Thermal Analysis and Calorimetry 144, 1253-1270 , 2020 2020 Citations: 25
Effect of porosity on ferrofluid flow with rotating disk P Ram, K Sharma, A Bhandari International Journal of Applied Mathematics and Mechanics 6 (16), 67-76 , 2010 2010 Citations: 24
Radiation and Chemical Reaction Effects on Nanofluid Flow Over a Stretching Sheet A Bhandari Fluid Dynamics & Materials Processing 15 (5), 557-582 , 2019 2019 Citations: 22
Effect of phase difference between highly oscillating magnetic field and magnetization on the unsteady ferrofluid flow due to a rotating disk P Ram, A Bhandari Results in Physics 3, 55-60 , 2013 2013 Citations: 22
Water-Based Fe3O4 Ferrofluid Flow Between Two Rotating Disks with Variable Viscosity and Variable Thermal Conductivity A Bhandari International Journal of Applied and Computational Mathematics volume 7, 46 , 2021 2021 Citations: 18
Axi-symmetric ferrofluid flow with rotating disk in a porous medium P Ram, A Bhandari, K Sharma International Journal of Fluid Mechanics 2 (2), 151-161 , 2010 2010 Citations: 18
Study of ferrofluid flow and heat transfer between cone and disk A Bhandari Zeitschrift Für Naturforschung A 76 (8), 683-691 , 2021 2021 Citations: 17
Flow characteristics of revolving ferrofluid with variable viscosity in a porous medium in the presence of stationary disk P Ram, A Bhandari Fluid Dynamics & Materials Processing 8 (4), 437-452 , 2012 2012 Citations: 15
Effect of magnetization force on ferrofluid flow due to a rotating disk in the presence of an external magnetic field A Bhandari, V Kumar The European Physical Journal Plus 130 (4), 62 , 2015 2015 Citations: 14
Effect of the diameter of magnetic core and surfactant thickness on the viscosity of ferrofluid A Bhandari Journal of Magnetism and Magnetic Materials, 168975 , 2022 2022 Citations: 13
Theoretical development in the viscosity of ferrofluid A Bhandari Journal of Tribology 145 (5), 050801 , 2023 2023 Citations: 12
Entropy generation and heat transfer analysis for ferrofluid flow between two rotating disks with variable conductivity A Bhandari Proceedings of the Institution of Mechanical Engineers, Part C: Journal of … , 2021 2021 Citations: 12
Influence of magnetic dipole on ferrohydrodynamic thin film flow over an inclined spinning surface A Bhandari, KPS Parmar Physics of Fluids , 2023 2023 Citations: 11
Sol–gel derived highly hydrophobic Polystyrene/SiO 2 spray coatings on polished stainless steel and textured aluminium substrates J Sharma, A Bhandari, S Jangra, MS Goyat Transactions of the IMF 102 (2), 77-82 , 2024 2024 Citations: 10