News and Views
Short-Term Price Movement and Market Behaviour
Gujarat Natural Resources Ltd’s shares have been under pressure for the past two consecutive days, resulting in a cumulative loss of 5.41% over this brief period. Interestingly, the stock opened the day with a positive gap of 2.48%, reaching an intraday high of ₹91.90, reflecting initial optimism among traders. However, the momentum could not be sustained, and the price slipped to an intraday low of ₹86.50, indicating selling pressure as the session progressed.
The weighted average price suggests that a larger volume of shares traded closer to the day’s low, signalling that sellers dominated the latter part of the trading session. This pattern often points to profit-taking or cautious positioning by investors after recent ...
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