Recent Price Movement and Market Context
Mangalam Cement’s share price opened sharply lower on 08-Dec, with a gap down of 4.6%, signalling immediate selling pressure from the outset of trading. The stock touched an intraday low of ₹746.80, reflecting a sustained bearish tone throughout the day. This decline contributed to a two-day losing streak, during which the stock has shed 5.16% of its value. Notably, the weighted average price indicates that a larger volume of shares traded closer to the day’s low, suggesting that sellers dominated the session.
Despite this short-term weakness, the stock remains above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning implies that the longer-term trend is still ...
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