Why is Paragon Finance falling/rising?

As of 23-Jun, Paragon Finance Ltd is experiencing a rise in its stock price, currently at Rs 64.40, reflecting an increase of Rs 2.4 or 3.87%. The stock has shown strong performance today, outperforming its sector by 3.34% and achieving a consecutive gain over the last two days, with a total return of 7.87% during this period. It reached an intraday high of Rs 65.1, although it also faced a low of Rs 58.9, indicating high volatility with a range of Rs 6.2. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which typically signals positive momentum. However, there has been a notable decline in investor participation, with delivery volume dropping by 85.05% against the 5-day average, which could indicate some caution among investors.
In the broader market context, Paragon Finance's short-term return of 7.33% over the past week significantly outpaces the Sensex, which has only increased by 0.12% during the same period. This strong performance relative to the benchmark suggests that investor sentiment towards Paragon Finance is currently favorable, despite the overall year-to-date performance showing a decline of 5.29% compared to the Sensex's gain of 4.81%. The stock's high volatility and wide trading range today indicate that while there is positive momentum, the market is also reacting to fluctuations in investor confidence and participation.