IGL shares up 1.31% as Nifty gains
Shares of Indraprastha Gas Ltd. gained 1.31 per cent to Rs 470.8 in Friday’s trade. It hit a high of Rs 473.9 and low of Rs 465.2 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 518.86, while the 50-DMA was at Rs 487.82. 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 below the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bearish bias on the counter.
