Recent Price Movement and Market Context
Panchmahal Steel’s share price has been on a downward trajectory over the past three days, cumulatively losing 8.36% in value. On 03-Dec, the stock opened with a gap down of 2.12%, signalling immediate selling pressure from the outset of trading. Throughout the day, the stock touched an intraday low of ₹293, representing a 7.48% decline from the previous close. The weighted average price for the day suggests that a larger volume of shares exchanged hands closer to the lower price levels, indicating sustained bearish sentiment among investors.
Despite this short-term weakness, the stock remains well above its longer-term moving averages, including the 50-day, 100-day, and 200-day averages. However, it is currently trading below i...
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