Short-Term Price Movement and Sector Influence
Magadh Sugar & Energy Ltd’s stock price surged by ₹22.15, or 5.17%, on 03-Feb, reaching an intraday high of ₹450.6. This gain outpaced the sugar sector’s 2.5% rise, indicating a stronger relative performance. The stock also outperformed its sector by 2.68% on the day, signalling renewed investor interest after two consecutive days of declines. The upward movement was supported by the stock trading above its 5-day moving average, although it remained below longer-term averages such as the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting that while short-term momentum is positive, the broader trend remains cautious.
However, the weighted average price indicates that more volume was traded near the lower e...
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