Why is Purple United falling/rising?

As of 09-Sep, Purple United Sales Ltd is experiencing a price increase, currently at Rs. 490.00, reflecting a rise of 12.05 or 2.52%. The stock has recently hit a new 52-week and all-time high of Rs. 501.8, indicating strong upward momentum. In terms of performance, the stock has outperformed its sector by 1.69% today and has shown impressive returns over various periods, including a 17.53% increase over the past week and a remarkable 155.54% year-to-date. However, it is important to note that there has been a significant decline in investor participation, with delivery volume dropping by 77.27% compared to the 5-day average, which may raise concerns about sustainability in the stock's upward trend.
In the broader market context, Purple United's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 1.18% over the past week. This stark contrast highlights the stock's strong relative strength in the market. Additionally, while the stock is trading above all its moving averages, indicating a bullish trend, the falling delivery volume suggests a potential cautionary signal for investors. Overall, while the stock is currently rising, the decrease in investor participation could impact future price movements.