Recent Price Movement and Market Context
On 20 January, Jindal Drilling’s stock price dropped by ₹7.9, marking a 1.53% decrease from the previous close. This decline forms part of a three-day losing streak, during which the stock has fallen by 3.38%. Intraday trading saw the price touch a low of ₹500.10, down 3.06% from the prior session’s close. Notably, the weighted average price indicates that a greater volume of shares exchanged hands closer to the day’s low, suggesting selling pressure.
The stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a bearish technical outlook. Furthermore, investor participation appears to be waning, with delivery volumes on 19 January falling by over 31% compared...
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