Strong Intraday Performance and Trend Reversal
The stock opened with a gap up of 4.9% and reached an intraday high of ₹999, representing a 15.8% increase from the previous close. This wide trading range of ₹120.1 indicates heightened volatility and investor interest. Importantly, the stock reversed its recent downward trend, gaining after two consecutive days of losses. It outperformed its sector by 12.82% on the day, signalling renewed buying momentum among traders.
Despite this rally, the weighted average price suggests that more volume was traded closer to the lower end of the day’s price range, indicating some selling pressure or cautious profit-taking. Additionally, while the stock’s price remains above its 5-day, 20-day, 50-day, and 100-day moving averages, it is...
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