Petronet LNG Ltd. shares falls 3.13% as Nifty drops
Shares of Petronet LNG NSE 0.00 % Ltd. slipped 3.13 per cent to Rs 249.4 in Monday’s trade. It hit a high of Rs 258.0 and low of Rs 249.1 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 238.33, while the 50-DMA was at Rs 243.54. 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 below the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bearish bias on the counter. The MACD is known for signalling trend reversal in traded securities or indices.
