Why is Purple Entertain falling/rising?

As of 28-Oct, Purple Entertainment Ltd is currently priced at Rs. 7.85, reflecting a decrease of Rs. 0.03 or 0.38%. The stock has recently hit a new 52-week high of Rs. 8.2 but has experienced a decline after four consecutive days of gains. Despite this drop, the stock has shown impressive performance over various periods, with a 1-week return of 57.31% and a 1-month return of 74.44%, significantly outperforming the Sensex, which has only increased by 0.24% and 5.22% respectively. Additionally, the stock is trading above all its moving averages, indicating a generally positive trend. There is also a notable increase in investor participation, with delivery volume rising by 231.47% against the 5-day average, suggesting strong interest in the stock.
In the broader market context, while Purple Entertainment has seen substantial short-term gains, the recent price decline contrasts with its overall strong performance compared to the benchmark. The stock's year-to-date return stands at 44.30%, compared to the Sensex's 8.30%, highlighting its outperformance. However, the stock's long-term performance over 3 years and 5 years shows a stark contrast, with a mere 1.03% increase over 3 years and a significant decline of 56.51% over 5 years, while the Sensex has risen by 41.14% and 111.98% respectively. This mixed performance may contribute to investor sentiment, influencing the current price movement.