Adani Gas share price: Adani Gas shares fall 1.31% on lower Nifty | News Bharat

The shares of Ltd. were down 1.31 percent at Rs 3,568.1 in Friday trade. It touched a high of Rs 3640.0 and a low of Rs 3553.4 during the session.

On the technical charts, the stock’s 200-DMA was at Rs 2,789.91 while the 50-DMA was at Rs 3,494.44. If a stock is trading above the 50-DMA and 200-DMA, it usually means that the immediate trend is up. On the other hand, if the stock is trading below the 50-DMA and 200-DMA, it is considered a downtrend and if it is trading between these averages, then it suggests that the stock can go either way.

The stock was trading below the Momentum Indicator Moving Average Convergence Divergence signal line, or MACD, which signals a bearish bias on the counter. MACD is known for signaling trend reversals in traded securities or indices. This is the difference between the 26-day and the 12-day exponential moving average. A nine-day exponential moving average, called a signal line, is superimposed on the MACD to reflect “buy” or “sell” opportunities.

On the other hand, the relative strength index (RSI) of the stock is 46.1. Traditionally, a stock is considered overbought when the RSI value is above 70 and oversold when it is below 30. Return on Equity (ROE) for the stock stands at 21.08% while Return on Capital Employed (RoCE) is 13.08. RoCE is a financial ratio that determines a company’s profitability and capital utilization efficiency, while ROE is a measure of a business’s profitability in terms of equity capital.

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