Recent Price Movement and Market Context
The stock has been under pressure for several sessions, recording losses over the last two days with a cumulative decline of 4.31%. Intraday trading saw the share price dip to a low of ₹524.85, representing a 3.81% fall from previous levels. This downward momentum is further underscored by the stock trading below all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – signalling a bearish trend. The broader chemicals sector also experienced a downturn, falling by 2.07%, indicating sector-wide headwinds that have compounded the stock’s weakness.
Investor participation has notably diminished, with delivery volumes on 21 Nov dropping by 43.94% compared to the five-day average, suggesting waning confidence among shar...
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