Short-Term Price Movement Driven by Sectoral Strength
Texmaco Rail’s price appreciation on 26-Dec was largely in line with the broader railway sector, which gained 4.64% on the same day. The stock touched an intraday high of ₹142.95, marking a 6.6% increase during trading hours. This surge was supported by the stock trading above its 5-day, 20-day, 50-day, and 100-day moving averages, signalling short-term bullishness. However, it remains below its 200-day moving average, indicating that longer-term trends may still be under pressure.
Despite this positive price action, the weighted average price suggests that more volume was traded closer to the day’s low, hinting at some resistance to higher prices. Additionally, delivery volumes have declined by 17.9% compared to th...
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