Shares of Indian Oil Corporation Ltd NSE 1.85 %. slipped 1.62 per cent to Rs 75.75 in Tuesday’s trade. It hit a high of Rs 77.3 and low of Rs 75.65 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 74.68, while the 50-DMA was at Rs 69.36. 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.
