Why is Waaree Tech. falling/rising?

As of 22-Jul, Waaree Technologies Ltd's stock price is currently at Rs 353.10, reflecting a decrease of Rs 7.2 or 2.0%. The stock has recently experienced a trend reversal, falling after five consecutive days of gains. It touched an intraday low of Rs 353.1 today, underperforming its sector by 0.68%. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 19.09% and 21.88%, respectively. However, it has a significant year-to-date decline of 30.76% and a staggering 70.85% drop over the past year. The stock's moving averages indicate it is performing better than the 5-day, 20-day, 50-day, and 100-day averages, but it remains below the 200-day moving average. Notably, there has been a rise in investor participation, with delivery volume increasing by 18.44% against the 5-day average, suggesting some positive interest despite the current price drop.
In the broader market context, Waaree Technologies Ltd has outperformed the benchmark Sensex in the short term, with a 1-week return of 19.09% compared to the Sensex's slight decline of 0.47%. However, the stock's year-to-date performance contrasts sharply with the Sensex, which has gained 5.18% during the same period. This disparity highlights the stock's volatility and the challenges it faces in recovering from its significant losses over the past year. Overall, while there are positive indicators such as rising investor participation, the recent price drop and underperformance against the sector suggest that market sentiment may be cautious.