Indian Oil Corporation share are down by -2.95%, Nifty down by -0.94%

At 06 Sep 11:04 today, Indian Oil Corporation shares are trading at price ₹175.85, -2.95% down from the previous closing price. Sensex is trading at ₹81381.16, down by -1%. The stock has hit a high of ₹181.3 and a low of ₹174.9 during the day.

On the technical front, the stock is trading above the 10,20,50,100,300 days SMA & lower than the 5 day SMA. The stock will have support at 10,20,50,100,300 days SMA & face resistance at 5 days SMA.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹183.82, ₹186.83, & ₹189.77, whereas it has key support levels at ₹177.87, ₹174.93, & ₹171.92.

Till 11 AM today, the volume traded on NSE & BSE for Indian Oil Corporation was 118.87% higher than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock is currently experiencing a strong bullish trend.

From a fundamental analysis perspective, the company has a ROE of 25.83% .The current P/E of the stock is at 8.10 .

The median 1-year forecasted upside in this share is at 2.46% with a target price of ₹171.51724138.

The company has a 51.50% promoter holding, 7.49% MF holding, & 7.79% FII holding as per filings in the june quarter.

The MF holding has decreased from 7.70% in march to 7.49% in june.

The FII holding has decreased from 8.49% in march to 7.79% in june quarter.

Indian Oil Corporation share price down -2.95% today to trade at ₹175.85 while its peers are mixed. Its peers such as Bharat Petroleum Corporation, Gujarat Natural Resources are falling today, but its peers are on the rise. Overall, benchmark indices Nifty & Sensex are down -0.94% & -1% each respectively.