Recent Price Movement and Market Performance
On 25-Nov, Chennai Ferrous underperformed its sector, falling 1.08% against a sector decline of 0.30%, and touched an intraday low of ₹107, representing a 3.78% drop from previous levels. The weighted average price indicates that a larger volume of shares traded closer to the day’s low, signalling selling pressure. Furthermore, the stock is trading below all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – which typically suggests a bearish trend and weak investor sentiment.
Investor participation has increased, with delivery volume rising by 12.84% on 24 Nov compared to the five-day average, indicating heightened trading activity. Despite this, the stock’s liquidity remains adequate for sizeable trades, t...
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