Recent Price Movement and Trading Dynamics
On the day in question, Dhanlaxmi Cotex opened with a gap down, initially trading lower by 4.99%. However, the stock recovered throughout the session, reaching an intraday high of ₹142.10, marking a 4.99% gain from its previous close. The trading range was wide, spanning ₹13.5, indicating significant volatility during the day. Despite this volatility, the weighted average price suggests that a larger volume of shares exchanged hands closer to the lower end of the price range, signalling cautious buying interest.
Interestingly, the stock's price remains above its 5-day moving average, which often indicates short-term positive momentum. However, it is still trading below its longer-term moving averages, including the 20-day, 50-...
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