In this work, a comparative study is made on photonic crystal fibre (PCF) with circular and elliptical air holes in square lattice for supercontinuum generation. Using finite-element method analysis in COMSOL MULTIPHYSICS 4.3b software, numerical investigation on optical parameters such as dispersion, confinement loss, birefringence and nonlinearity has been carried out. Change in each optical parameter is observed by varying the radius of the circular air hole and the radius of the major axis of the elliptical air hole. The supercontinuum generation for the proposed PCF is also numerically simulated and studied under different power and pulse width.