Why is Manoj Jewellers falling/rising?

As of 16-Sep, Manoj Jewellers Ltd is currently priced at 52.70, reflecting an increase of 0.6 or 1.15%. The stock has shown a strong performance recently, with a 4.34% increase over the past week and a 5.40% increase over the past month, outperforming the Sensex, which rose by 1.58% and 2.21% respectively during the same periods. Despite this positive trend, there are concerns regarding falling investor participation, as evidenced by a significant drop in delivery volume by 54.55% against the 5-day average. However, the stock is trading above its moving averages across various time frames, indicating a bullish trend.
Broader market context shows that while Manoj Jewellers has outperformed the benchmark in the short term, the overall market sentiment appears mixed, with the Sensex showing a modest year-to-date gain of 5.43% and a slight decline of 0.73% over the past year. The erratic trading pattern, where the stock did not trade on one day out of the last 20, may also contribute to investor caution. Overall, the combination of strong recent returns and declining trading volume suggests that while the stock is currently rising, there are underlying factors that could impact its future performance.