Intraday Price Movements and Trading Dynamics
The stock opened with a positive gap of 4.6%, signalling early optimism among traders. It reached an intraday high of ₹72, marking a 6.07% gain at its peak during the session. However, this momentum was not sustained, as the price retreated sharply to touch an intraday low of ₹66, coinciding with the closing price and representing a 2.77% decline from the previous day’s close. The weighted average price for the day skewed closer to the lower end of the range, indicating that a larger volume of shares traded near the day's low rather than the high, which suggests selling pressure dominated the latter part of the session.
Technical Indicators Point to Downtrend
From a technical standpoint, Kanco Tea is...
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