Short-Term Price Movement and Market Reaction
Relic Technologies opened the trading session with a gap down of 4.75%, signalling immediate selling pressure from the outset. Throughout the day, the stock traded within a narrow range of just ₹0.38, ultimately touching an intraday low of ₹77. This limited price fluctuation suggests a consolidation phase following the initial sharp decline. The stock underperformed its sector by 4.5% on the day, indicating that the weakness was more pronounced relative to its peers.
Adding to the complexity, the stock’s current price sits above its 200-day moving average, a traditional indicator of long-term strength, but remains below its shorter-term moving averages including the 5-day, 20-day, 50-day, and 100-day averages. This technica...
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