Recent Price Movement and Market Context
Concord Biotech’s share price hit a fresh 52-week low of ₹1,352.30 during intraday trading on 08-Dec, marking a 3.69% decline from previous levels. The stock underperformed its sector by 1.81% on the day, with a weighted average price indicating that most trading volume occurred near the day’s low. This suggests selling pressure dominated throughout the session. Furthermore, the stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a bearish trend and weak technical momentum.
Investor participation has also waned, with delivery volumes on 05-Dec falling by 27.32% compared to the five-day average. Although liquidity remains adequate for moderate trade sizes,...
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