Price Movement and Market Comparison
The stock's fall on 29-Dec was marked by an opening gap down of 13.52%, signalling immediate bearish sentiment among investors. Throughout the day, the share price touched an intraday low of ₹21.85, representing a 14.11% decline from the prior close. The trading range was notably wide at ₹2.28, indicating volatility and uncertainty in the stock’s price action.
When compared to the broader market, Suryavanshi Spinning Mills has underperformed considerably. Over the past month, the stock has declined by 7.82%, whereas the Sensex has only fallen by 1.18%. The year-to-date figures further emphasise this divergence, with the stock down 7.89% while the Sensex has gained 8.39%. Even over a one-year horizon, the stock has lost 5.41% in value, contrasting with the Sensex’s 7.62% rise. This persistent underperformance suggests company-specific or sector-related headwinds impacting investor confidence.
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Technical Indicators and Trading Patterns
Technically, Suryavanshi Spinning Mills is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This consistent positioning below moving averages is a bearish signal, indicating downward momentum and a lack of short- to long-term buying interest. The weighted average price for the day was closer to the low end of the trading range, suggesting that more volume was transacted near the lower price levels, reinforcing selling pressure.
Investor participation appears to be waning as well. Delivery volume on 22 Dec was recorded at 19, which is a steep 96.04% decline compared to the five-day average delivery volume. This sharp fall in delivery volume points to reduced investor conviction and possibly a lack of fresh buying interest, which can exacerbate price declines.
Liquidity remains adequate for trading, with the stock’s liquidity based on 2% of the five-day average traded value sufficient for a trade size of ₹0 crore. However, the stock’s erratic trading pattern, having not traded on five days out of the last twenty, adds to the uncertainty and may deter some investors from engaging actively.
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Long-Term Performance Context
Despite the recent weakness, it is important to note that over a five-year period, Suryavanshi Spinning Mills has delivered a remarkable total return of 256.93%, significantly outperforming the Sensex’s 77.88% gain. This long-term outperformance indicates that the company has had periods of strong growth and value creation for shareholders. However, the recent three-year trend shows a decline of 26.60%, while the Sensex has appreciated by 38.54%, signalling a notable shift in the stock’s trajectory and possibly reflecting sectoral challenges or company-specific issues that have emerged in recent years.
Given the current technical weakness, underperformance relative to benchmarks, and declining investor participation, the stock is facing downward pressure. Investors should carefully monitor upcoming developments and market conditions before considering new positions in Suryavanshi Spinning Mills.
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