Recent Price Movement and Market Context
On 18 December, Geekay Wires closed near its 52-week low, just 3.42% above the lowest price of ₹29.65 recorded over the past year. The stock’s decline of ₹1.06 on the day further emphasises its struggle to regain investor confidence. Notably, the share price has underperformed its sector by 3.04% on the same day, signalling sector-relative weakness. Additionally, the stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a sustained bearish trend.
Investor participation has also waned, with delivery volumes on 17 December falling by nearly 5% compared to the five-day average. This reduced liquidity and engagement suggest that market participants are cautious...
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