Recent Price Movement and Market Context
The stock has been on a downward trajectory for the past three consecutive days, cumulatively losing 6.77% in that period. On the day in question, Patanjali Foods touched an intraday low of ₹521.05, representing a 6.22% decline from previous levels. Notably, the weighted average price indicates that a larger volume of shares traded closer to the day’s low, signalling selling pressure. The stock is also trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, which typically suggests a bearish technical outlook.
In comparison to the broader market, Patanjali Foods has underperformed significantly. Over the past week, the stock declined by 6.78%, while the Sensex fell only 0.53%. T...
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