Recent Price Movement and Market Context
The stock has been on a losing streak for the past four days, shedding 5.38% during this period. Today’s decline of ₹7.7 per share represents a 2.4% drop, with the intraday low touching ₹312, indicating persistent selling pressure. Notably, the weighted average price suggests that a larger volume of shares traded closer to the day’s low, signalling bearish sentiment among investors. Furthermore, Mishra Dhatu Nigam is trading below all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—highlighting a sustained negative momentum.
Investor participation has also waned, with delivery volumes on 02 Dec falling by 42.9% compared to the five-day average, suggesting reduced conviction among shareholders. Despite the stock’s...
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