Short-Term Price Movement and Market Reaction
The stock’s fall on 08-Dec was marked by an intraday low of ₹441.75, representing a 6.47% dip from previous levels. This decline significantly underperformed its sector by 3.76% and the broader Sensex benchmark, which showed a marginal negative movement of just 0.63% over the past week. Over the last week, Poonawalla Fincorp’s stock has dropped by 7.94%, a stark contrast to the Sensex’s relatively stable performance.
Despite the recent downward trend, the stock remains well above its 200-day moving average, indicating that the longer-term technical outlook is still positive. However, it currently trades below its 5-day, 20-day, 50-day, and 100-day moving averages, signalling short-term weakness. The weighted average price f...
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