Short-Term Price Movement and Market Outperformance
Tejas Networks has outperformed its sector by 1.6% on the day, marking its second consecutive day of gains with a cumulative return of 5.63% over this brief period. The stock touched an intraday high of ₹524.20, representing a 2.2% increase from its low of ₹502.60 earlier in the session. This volatility indicates active trading interest and a willingness among investors to buy into the stock at higher levels, at least in the short term.
Moreover, the stock’s current price is above its 5-day and 20-day moving averages, signalling some short-term momentum. However, it remains below longer-term averages such as the 50-day, 100-day, and 200-day moving averages, suggesting that the broader trend remains under pressure.
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