Why is Khaitan Chemical falling/rising?

As of 05-Sep, Khaitan Chemicals & Fertilizers Ltd is experiencing a slight increase in its stock price, currently at Rs. 124.75, reflecting a change of 0.2 or 0.16% upward. The stock has recently hit a new 52-week high of Rs. 129.4, indicating strong performance. Over the past week, the stock has shown a remarkable return of +14.45%, significantly outperforming the Sensex, which only gained +1.13%. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 33.69% compared to the 5-day average, which could be a concern for future price stability.
In the broader market context, Khaitan Chemicals has outperformed the benchmark index significantly over various time frames, including a year-to-date return of +74.16% compared to the Sensex's +3.29%. This strong performance indicates that investor sentiment towards Khaitan Chemicals remains positive despite the recent drop in trading volume. The stock's liquidity remains adequate for trading, which may help mitigate some of the impacts of reduced participation. Overall, while the stock is rising, the decline in investor participation could pose risks if it continues, potentially affecting future price movements.