Intraday Price Movements and Trading Dynamics
The stock opened with a gap up, registering an initial gain of 2.54%, reaching an intraday high of ₹98.80. However, this early optimism was short-lived as the price reversed sharply, touching a low of ₹91.33, a decline of 5.21% from the previous close. The weighted average price indicates that a greater volume of shares traded closer to the lower end of the day’s price range, signalling selling pressure as the session progressed.
This intraday volatility suggests that while there was some initial buying interest, sellers dominated the latter part of the day, pushing the price down significantly from its peak. The stock’s underperformance relative to its sector by 2.57% further emphasises the weakness in demand for Resonance...
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