Shares of Indian Oil Corporation Ltd NSE 2.35 %. gained 2.65 per cent to Rs 67.75 in Wednesday’s trade. It hit a high of Rs 67.85 and low of Rs 65.95 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 76.4, while the 50-DMA was at Rs 70.27. 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.
