Recent Price Movements and Volatility
The stock experienced a turbulent trading day, opening with a significant gap up of 15.87% and touching an intraday high of ₹33.8. However, it also hit a new 52-week low of ₹27.2 during the session, demonstrating a wide trading range of ₹6.6. Despite the initial optimism, the weighted average price indicated that more volume was traded near the lower end of the range, signalling selling pressure. The intraday volatility was exceptionally high at 20.89%, underscoring the erratic nature of the stock’s movement on this day.
Adding to the bearish sentiment, Damodar Industries has been trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical weakness often deters short-ter...
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