Why is Bajaj Auto falling/rising?

As of 14-Jul, Bajaj Auto Ltd. is currently priced at 8,085.50, reflecting an increase of 25.15, or 0.31%. The stock has shown a trend reversal, gaining after two consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally bearish trend. Despite a recent drop of 4.32% over the past week and 8.14% year-to-date, the stock has experienced a significant rise in delivery volume, up by 239.61% against the 5-day average, suggesting increased investor participation. The company boasts strong long-term fundamentals, with an average Return on Equity (ROE) of 21.99%, and healthy growth in net sales and operating profit, which may support its price stability.
In the broader market context, Bajaj Auto's recent performance contrasts with the benchmark Sensex, which has declined by only 1.42% over the past week and has gained 5.27% year-to-date. This underperformance relative to the benchmark may contribute to investor caution. However, the company's high institutional holdings at 22.6% indicate confidence from larger investors who are better equipped to analyze its fundamentals. As the largest company in its sector, constituting 35.97% of the industry, Bajaj Auto's strong market position and liquidity could provide a buffer against broader market fluctuations, despite its recent price movements.