Short-Term Price Movement and Market Reaction
Megasoft’s shares opened the day with a positive gap, rising 3.37% initially and reaching an intraday high of ₹196.90, up 4.43%. However, the momentum could not be sustained, and the stock ultimately slid to an intraday low of ₹183, marking a 2.94% decline from the previous close. The weighted average price indicates that a larger volume of shares traded closer to the lower end of the day’s price range, suggesting selling pressure intensified as the session progressed.
This price action reflects a degree of volatility and profit-taking after a strong rally, with the stock underperforming its sector by 1.99% on the day. Notably, Megasoft has been on a downward trajectory for three consecutive days, losing 8.07% over this per...
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