Shares of InterGlobe Aviation Ltd. gained 0.32 per cent to Rs 2152.3 in Friday’s trade. It hit a high of Rs 2164.6 and low of Rs 2122.4 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 1856.69, while the 50-DMA was at Rs 2039.42. 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.
The stock traded above the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bullish bias on the counter. The MACD is known for signalling trend reversal in traded securities or indices.
