Onix Solar Energy Ltd Sees Significant Buying Activity Amidst Price Recovery Efforts

Onix Solar Energy Ltd is currently witnessing significant buying activity, marking a notable performance shift after eight consecutive days of decline. Today, the stock surged by 4.99%, contrasting sharply with the Sensex, which fell by 1.49%. This uptick comes after a challenging week where Onix Solar's performance dipped by 14.44%, while the Sensex managed a modest gain of 0.69%.
Despite a substantial decline of 36.13% over the past month, Onix Solar has shown resilience with a remarkable 146.38% increase over the past year, significantly outperforming the Sensex's 11.58% rise. Over a five-year horizon, the stock has skyrocketed by 4798.89%, compared to the Sensex's 153.69%.

Today's trading opened with a gap down of 4.99%, but the stock rebounded to reach an intraday high of Rs 176.85. The day's low was recorded at Rs 160.05. Notably, Onix Solar is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a potential trend reversal amidst the recent buying pressure.