Why is Manoj Jewellers falling/rising?

As of 04-Jul, Manoj Jewellers Ltd is experiencing a price increase, with the current price at Rs 52.99, reflecting a rise of 1.09 or 2.1%. The stock has shown a strong performance over the past month, gaining 18.44%, while it has underperformed the benchmark Sensex in the past week with a decline of 1.14%. Today's trading saw the stock reach an intraday high of Rs 54.79, which is 5.57% higher than its previous close, and it is currently 4.85% away from its 52-week high of Rs 55.56. However, there has been a notable decrease in investor participation, with delivery volume dropping by 64.91% compared to the 5-day average, which may indicate a potential concern for sustained momentum.
Broader Market Context: In the context of the broader market, the Sensex has declined by 0.74% over the past week, suggesting that the overall market sentiment may be weak. Despite this, Manoj Jewellers has managed to outperform its sector by 1.33% today, indicating a relative strength in its performance. The stock is trading above its moving averages across various time frames, which typically signals a bullish trend. However, the significant drop in delivery volume could be a warning sign that might affect future price movements, as liquidity remains adequate for trading.