Shares of Indian Oil Corporation Ltd. slipped 0.17 per cent to Rs 120.85 in Thursday’s trade. It hit a high of Rs 121.45 and low of Rs 119.85 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 115.26, while the 50-DMA was at Rs 118.55. 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.
