Indian Oil Corp. shares fall 0.44% as Nifty drops
Shares of Indian Oil Corporation Ltd. slipped 0.44 per cent to Rs 114.15 in Friday’s trade. It hit a high of Rs 115.5 and low of Rs 113.7 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 116.84, while the 50-DMA was at Rs 118.54. 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.
