Indian Oil Corp. shares up 2.11% as Nifty gains
Shares of Indian Oil Corporation Ltd NSE 2.46 %. gained 2.11 per cent to Rs 118.5 in Wednesday’s trade. It hit a high of Rs 118.7 and low of Rs 116.45 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 120.77, while the 50-DMA was at Rs 122.88. 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.
