Short-Term Price Movement and Sector Context
On the day in question, M&M’s stock experienced volatility, touching an intraday high of ₹3,525.7, up 2.72%, before retreating to an intraday low of ₹3,342.85, down 2.6%. The weighted average price indicates that a larger volume of shares traded closer to the lower end of the day’s range, signalling selling pressure. This price behaviour occurred against the backdrop of the broader Automobiles - Passenger Cars sector, which itself declined by 2.27%, suggesting that sector-wide weakness contributed to the stock’s fall.
Moreover, the stock’s moving averages reveal a nuanced technical picture. While the price remains above the 200-day moving average, it is trading below the shorter-term 5-day, 20-day, 50-day, and 100-day mo...
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