Recent Price Movement and Sector Influence
Shalimar Wires has experienced a consecutive two-day decline, losing approximately 4.61% over this short period. This recent downturn aligns closely with the broader Metal - Non Ferrous sector, which itself has contracted by 2.91% on the same day. The stock’s performance today is described as inline with its sector peers, indicating that the fall is not isolated but part of a wider sectoral correction or profit-taking phase.
Despite the short-term weakness, it is important to note that Shalimar Wires remains comfortably above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests that the stock’s longer-term trend remains intact and bullish, even as it f...
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