Why is NGL Fine Chem falling/rising?

As of 10-Oct, NGL Fine Chem Ltd is experiencing a price increase, currently at Rs 1,544.95, reflecting a rise of Rs 70.35 or 4.77%. The stock has shown a positive trend today, outperforming its sector by 3.54% and marking a reversal after two consecutive days of decline. It reached an intraday high of Rs 1,560, indicating strong intraday performance. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bullish trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 33.78% compared to the 5-day average, which may indicate some caution among investors.
In the broader market context, NGL Fine Chem's short-term performance over the past week shows a return of +7.18%, significantly outperforming the Sensex, which has only increased by +1.59% during the same period. This strong relative performance highlights the stock's resilience despite a year-to-date decline of 14.17% compared to the Sensex's gain of 5.58%. The stock's ability to rebound today amidst falling delivery volumes suggests that while there is some positive momentum, investor sentiment may still be cautious, reflecting mixed signals in the market.