Intraday Price Movements and Market Behaviour
Despite opening the day with a notable gap up of 5.52%, the stock was unable to sustain this early optimism. It reached an intraday high of ₹107, mirroring the initial bullish sentiment. However, the price subsequently retreated, touching a low of ₹97.85, a decline of 3.5% from the previous close. The weighted average price indicates that a larger volume of shares traded closer to the lower end of the day’s range, signalling selling pressure as the session progressed.
Adding to the cautious tone, the stock underperformed its sector by 1.95% on the day, suggesting that investors favoured other stocks within the speciality sugar or related sectors. The moving averages provide further insight: while the current price remains a...
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