I want to give multiple colors to different features within a shapefile based on attribute values , is this possible in QGIS ?
If yes what is the procedure ?
Is there a way to provide color by means of hexadecimal codes ?
You can change the styles of the shape file in the layer properties. Double click the layer and select style.
if I understood you right this great tutorial should answer your question: http://woostuff.wordpress.com/2011/06/06/one-of-my-favorite-features-of-qgis/
p.s. from the same author there is alos a follow-up: http://woostuff.wordpress.com/2012/01/25/improvements-to-the-qgis-rule-based-rendering/