Recent Price Movement and Market Context
The stock hit a fresh 52-week low of ₹374.5 during intraday trading, signalling persistent selling pressure. It underperformed its sector by 2.72% on the day, with the weighted average price indicating that a larger volume of shares traded closer to the day’s low. This suggests that sellers dominated the session, pushing prices downward. Furthermore, Saregama India is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, which is a technical indication of a bearish trend.
Investor participation has also waned, with delivery volumes on 20 Nov falling by nearly 39% compared to the five-day average. This decline in active buying interest compounds the downward pressure ...
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