Why is Ishan Dyes falling/rising?

As of 08-Aug, Ishan Dyes and Chemicals Ltd is experiencing a price increase, currently at Rs 59.98, reflecting a rise of 1.18 (2.01%). The stock has shown strong performance recently, with a consecutive gain over the last two days and a notable increase of 7.11% over the past week. It opened with a gain of 2.01% today and has maintained this price throughout the trading session. However, there is a concerning trend in investor participation, as the delivery volume has decreased significantly by 59.63% compared to the 5-day average, indicating a potential decline in investor interest despite the recent price gains. The stock is also trading above its moving averages across various time frames, which typically suggests positive momentum.
In the broader market context, Ishan Dyes has outperformed the benchmark Sensex, which has declined by 0.92% over the past week while the stock itself has gained 7.11%. This contrast highlights the stock's relative strength in a challenging market environment. Year-to-date, Ishan Dyes has increased by 10.38%, while the Sensex has only risen by 2.20%, further emphasizing its strong performance. However, over a longer period, such as three years, the stock has underperformed relative to the benchmark, which raises questions about its sustainability in the face of declining investor participation.