Why is Manoj Jewellers falling/rising?

As of 15-Jul, Manoj Jewellers Ltd is experiencing a price increase, currently at Rs 54.30, which reflects a rise of Rs 2.1 or 4.02%. The stock opened with a gain of 3.26% today and has outperformed its sector by 3.6%. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock is close to its 52-week high, being only 2.32% away from Rs 55.56. However, there is a notable decline in investor participation, with delivery volume dropping by 69.7% compared to the 5-day average, which could indicate a potential concern for sustained momentum.
In the broader market context, Manoj Jewellers has shown a strong performance over the past week, with a return of 2.36%, while the benchmark Sensex has declined by 1.36%. Over the past month, the stock has significantly outperformed the Sensex, gaining 18.04% compared to the benchmark's 1.79%. This disparity highlights the stock's relative strength in a challenging market environment. Despite the positive price movement, the falling investor participation may warrant caution regarding the stock's ability to maintain its upward trajectory.