Recent Price Movement and Sector Context
Shivalik Bimetal has been under pressure for several sessions, recording a consecutive four-day fall that has eroded approximately 7.37% of its value during this period. The stock’s intraday low touched ₹435.7, marking a 3.58% decline on the day. This performance aligns closely with the broader Steel, Sponge Iron, and Pig Iron sector, which itself declined by 2.61% on the same day, indicating that sector-wide factors are contributing to the stock’s weakness.
Further technical indicators reinforce the bearish sentiment. The stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Such positioning typically signals sustained downward momentum and may deter short-term inves...
Read More









