Why is Varvee Global falling/rising?

As of 07-Nov, Varvee Global Ltd's stock price is currently at Rs 149.65, reflecting an increase of Rs 7.1 or 4.98%. The stock has been on an upward trend, gaining for the last six days and achieving a total return of 29.96% during this period. It opened today with a gain of 4.81% and reached an intraday high of Rs 149.65. Despite this positive movement, there has been a notable decline in investor participation, with delivery volume dropping by 75.29% compared to the five-day average. The stock's performance over the past week shows a significant increase of 17.93%, while its year-to-date return stands at 31.08%, indicating strong long-term growth.
In the broader market context, the Sensex has experienced a slight decline of 0.86% over the past week, contrasting with Varvee Global's impressive performance. This suggests that the stock is outperforming the benchmark significantly in the short term. While the stock's moving averages indicate it is performing better than the 5-day and 20-day averages, it remains below the longer-term averages of 50, 100, and 200 days. This could imply that while the stock is currently experiencing a surge, there may be caution regarding its sustainability in the longer term. Overall, the combination of strong recent gains and a favorable comparison to the benchmark supports the stock's rising price.