Recent Price Movement and Market Context
The stock’s decline on 09-Jan contrasts with its broader recent gains. Over the last month, Narmada Gelatines has appreciated by 5.23%, outperforming the Sensex, which declined by 1.29% in the same period. Year-to-date, the stock has risen 4.29%, while the benchmark index has fallen 1.93%. However, the immediate price action reveals a short-term correction, with the stock losing 7.9% over the past three days. This suggests that investors may be taking profits or reacting to near-term factors despite the stock’s longer-term strength.
The intraday low of Rs 360.05 on 09-Jan, representing a 3.6% drop, indicates that selling pressure was concentrated near the day’s lows. The weighted average price also shows that a greater volume of...
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