Indian Oil Corp. shares up 2.38% as Nifty gains
Shares of Indian Oil Corporation Ltd. gained 2.38 per cent to Rs 111.7 in Thursday’s trade. It hit a high of Rs 112.3 and low of Rs 109.9 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 110.99, while the 50-DMA was at Rs 125.82. 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.
