3M India Shows Signs of Trend Reversal Amid Mixed Market Signals

Jan 23 2025 11:20 AM IST
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3M India Ltd. saw a significant rise on January 23, 2025, closing at Rs 29,800 after four days of decline. The stock outperformed its sector while remaining below several key moving averages. Over the past month, it has declined more than the broader Sensex index.
3M India Ltd. experienced a notable increase of 3.0% on January 23, 2025, closing at an intraday high of Rs 29,800. This uptick marks a trend reversal for the stock, which had faced four consecutive days of decline prior to this gain. The stock outperformed its sector by 2.38%, while the broader Sensex index recorded a modest gain of 0.24% on the same day.

Despite this recent performance, 3M India remains 4.21% away from its 52-week low of Rs 28,424. Analyzing moving averages, the stock is currently above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages, indicating mixed signals across different time frames.

Over the past month, 3M India has seen a decline of 3.09%, compared to a decrease of 2.49% in the Sensex, highlighting a slightly weaker performance relative to the broader market.
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