Why is Sh. Steel Wire falling/rising?

As of 13-Oct, Shree Steel Wire Ropes Ltd's stock price is currently at Rs 27.43, reflecting a decline of Rs 1.56, or 5.38%. The stock has shown significant volatility today, having opened with a gain of 5.21% but subsequently fell to an intraday low of Rs 26.05, marking a decrease of 10.14%. Over the past week, the stock has underperformed its sector by 4.74%, and its year-to-date performance shows a substantial decline of 30.38%, contrasting sharply with the Sensex, which has gained 5.36% during the same period. The stock's recent trend reversal follows two consecutive days of gains, indicating a potential shift in investor sentiment. Additionally, while the stock is trading higher than its 20-day moving average, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.
Broader Market Context: In the context of the broader market, Shree Steel Wire Ropes Ltd has underperformed compared to the Sensex, which has increased by 0.66% over the past week. This underperformance is evident as the stock has declined by 0.80% in the same timeframe. The high volatility observed today, with an intraday volatility of 7.85%, coupled with a significant drop in price, indicates that investor confidence may be wavering. Furthermore, despite a rise in delivery volume by 19.31% against the 5-day average, the overall negative sentiment surrounding the stock's performance year-to-date and over the past year suggests that broader market conditions may not be favorable for recovery at this time.