Bajaj Electricals Stock Drops -5.46% After 'Strong Sell' Call by MarketsMOJO

Bajaj Electricals, a leading player in the consumer durables industry, has seen a decline in its stock price by -5.46% on November 8th, 2024. This drop in stock price has been attributed to the recent stock call of 'Strong Sell' given by MarketsMOJO. The stock has underperformed the sector by -4.65% and has also shown a trend reversal after two consecutive days of gains. On the day of the decline, the stock touched an intraday low of Rs 871.65, which is a decrease of -5.61% from the previous day's closing price. In terms of moving averages, Bajaj Electricals is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a bearish trend in the stock's performance. Comparing the stock's performance to the overall market, Bajaj Electricals has shown a decline of -5.88% in the past day, while the Sensex has only decreased by -0.09%. In the past month, the stock has also underperformed the Sensex by -6.21% as compared to the market's decline of -2.65%. While the reasons for the decline in Bajaj Electricals' stock price are not specified, investors should keep a close eye on the company's financial performance and market trends before making any investment decisions. As of now, the stock call remains 'Strong Sell' by MarketsMOJO.