Recent Price Movement and Market Context
The stock opened sharply lower by 2% on 20 January and remained at this level throughout the trading session, touching an intraday low of ₹797.90. This decline forms part of a broader 12-day losing streak, during which the stock has fallen by 21.79%. Such a persistent downtrend contrasts with the broader metal-ferrous sector, which itself declined by 2.39% on the day, indicating sector-wide pressures but also underperformance by Mahamaya Steel relative to its peers.
Volatility was exceptionally high, with an intraday volatility measure exceeding 35,000%, signalling significant price swings within the session. The stock’s price currently trades below its short-term moving averages (5-day, 20-day, and 50-day) but remains above the...
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