Recent Price Movement and Market Context
The stock has been on a downward trajectory, losing value for two consecutive days and falling 1.76% over this period. It currently trades just 0.92% above its 52-week low of ₹1,040.25, signalling significant weakness. Compared to its sector peers, Mahanagar Gas underperformed by 1.73% on the day, further highlighting investor caution. Additionally, the stock is trading below all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—indicating a bearish technical outlook.
Investor participation has also waned, with delivery volumes on 13 Jan dropping by 13.08% against the five-day average, suggesting reduced enthusiasm among shareholders. Despite this, liquidity remains adequate for trades up to ₹0.81 crore, ensuring t...
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