Why is Cigniti Tech. falling/rising?

As of 13-Aug, Cigniti Technologies Ltd is currently priced at 1,533.00, reflecting an increase of 7.65 (0.5%). The stock has shown a positive trend recently, gaining for the last three days and achieving a total return of 2.1% during this period. Today, it opened with a significant gain of 4.79%, reaching an intraday high of Rs 1598.35. However, despite this upward movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 67.74% compared to the 5-day average. On a longer-term basis, while the stock has generated a return of 12.89% over the past year, it has experienced a decline of 12.74% over the last month.
In the broader market context, Cigniti Technologies has underperformed the benchmark Sensex over the past month, which has only seen a decline of 2.38%. Despite this, the company has demonstrated strong management efficiency with a high return on equity (ROE) of 24.40% and a low debt-to-equity ratio, indicating financial stability. The company has reported positive results for the last three consecutive quarters, with significant increases in net sales and profits. These factors contribute to a fair valuation of the stock, although it is trading at a premium compared to its peers. Overall, while the recent price increase may reflect positive sentiment, the declining investor participation and lower moving averages suggest caution among investors.