Recent Price Movement and Market Context
The stock’s decline on 03-Dec was marked by an intraday low of Rs 302.25, representing a 4.02% drop from previous levels. Trading volumes were concentrated near this low price, indicating selling pressure. Notably, Senco Gold’s share price is currently below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a bearish technical outlook. Investor participation has also waned, with delivery volumes on 02-Dec falling by 5.81% compared to the five-day average, suggesting reduced conviction among buyers.
Underperformance Against Benchmarks
Over the past week, Senco Gold’s shares have declined by 2.21%, underperforming the Sensex’s modest 0.59% gain. The one-...
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