Shares of Indian Oil Corporation Ltd. gained 1.42 per cent to Rs 79.34 in Monday’s trade. It hit a high of Rs 79.68 and low of Rs 78.0 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 73.93, while the 50-DMA was at Rs 79.42. 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.
