Recent Price Movements and Market Sentiment
The stock has been on a downward trajectory for the past three consecutive days, cumulatively losing over 10% in value during this period. On 25-Nov, it opened with a gap down of 3.69%, signalling immediate negative sentiment among investors. The intraday low of Rs 63.13 marked the lowest price point in a year, underscoring the bearish momentum. Notably, the weighted average price indicates that a larger volume of shares traded closer to the day’s low, suggesting selling pressure dominated throughout the session.
Further technical indicators reinforce this negative outlook. Gorani Industries is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Such positioning typically...
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