Shares of Hindustan Petroleum Corporation Ltd. slipped 0.1 per cent to Rs 196.65 in Friday’s trade. It hit a high of Rs 199.05 and low of Rs 196.1 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 218.94, while the 50-DMA was at Rs 211.46. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
