HPCL shares up 0.24% as Nifty drops
Shares of Hindustan Petroleum Corporation Ltd. gained 0.24 per cent to Rs 314.85 in Thursday’s trade. It hit a high of Rs 316.5 and low of Rs 308.95 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 281.95, while the 50-DMA was at Rs 309.2. 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.
The stock traded above the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bullish bias on the counter. The MACD is known for signalling trend reversal in traded securities or indices.
