Strong Intraday Performance and Sector Momentum
The stock opened with a notable gap up of 9.84%, quickly reaching an intraday high of ₹105.6, marking a 10.74% increase. This surge outpaced the textile sector’s gain of 8.25% on the same day, indicating strong relative momentum. The stock’s price currently trades above its 5-day and 20-day moving averages, signalling short-term bullishness, although it remains below longer-term averages such as the 50-day, 100-day, and 200-day, suggesting some resistance ahead.
Investor enthusiasm today was somewhat tempered by a decline in delivery volume, which fell by 41.78% compared to the five-day average, indicating that while the price rose sharply, actual investor participation in terms of shares delivered was subdued. Neverthele...
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