Short-Term Price Movement and Market Sentiment
Simplex Castings has experienced a consecutive three-day decline, losing 8.04% in returns during this period. The stock underperformed its sector by 5.81% on the day, touching an intraday low of ₹456.6, which represents an 8.43% drop from recent levels. The weighted average price indicates that a greater volume of shares traded near the day’s low, suggesting selling pressure. Additionally, the stock’s price currently sits above its 100-day and 200-day moving averages but remains below the shorter-term 5-day, 20-day, and 50-day averages, signalling some near-term weakness despite longer-term support levels.
Investor participation has also waned, with delivery volumes on 26 Dec falling by nearly 49% compared to the five-day ...
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