Kavveri Defence & Wireless Technologies Faces Selling Pressure with 1.99% Decline Amid Market Volatility.
Kavveri Defence & Wireless Technologies Ltd is experiencing significant selling pressure, marking a reversal after five consecutive days of gains. Despite a strong weekly performance, the stock faces challenges in the longer term. Today's trading shows high volatility, with the stock remaining stagnant at its opening price.
Kavveri Defence & Wireless Technologies Ltd is currently facing significant selling pressure, with only sellers active in the market today. The stock has experienced a decline of 1.99%, contrasting sharply with the Sensex, which has gained 0.14%. This marks a notable trend reversal, as Kavveri had enjoyed five consecutive days of gains prior to this downturn.Over the past week, the stock has shown a remarkable performance of 19.11%, yet it has faced challenges in the longer term, with a 1-month decline of 11.12%. Despite its recent struggles, Kavveri has demonstrated impressive growth over the past year, boasting a 158.58% increase compared to the Sensex's 8.87%.
Today's trading has been characterized by high volatility, with an intraday volatility of 1616.93%. The stock opened at 110.57 and has remained at this price, indicating a lack of range in trading activity. Additionally, while the stock is currently above its 5-day, 50-day, 100-day, and 200-day moving averages, it is below its 20-day moving average, suggesting a shift in momentum. The selling pressure may be attributed to profit-taking after a strong performance in previous weeks.
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