Recent Price Movement and Market Performance
On 01-Dec, Sri Nachammai Cotton Mills Ltd’s share price closed at ₹29.96, down ₹1.51 or 4.8% from the previous close. Intraday, the stock touched a low of ₹29.35, marking a fresh 52-week low and signalling sustained selling pressure. The weighted average price indicates that a larger volume of shares traded closer to the day’s low, underscoring bearish momentum. Furthermore, the stock underperformed its sector by 3.64% on the day, reflecting relative weakness within its industry peers.
Technical indicators also paint a grim picture. The stock is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — suggesting a persistent downtrend. This technical weakness is compounded by a sharp decline in i...
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