Recent Price Movement and Market Context
The stock has been under pressure for the past two days, registering an 8.38% loss over this short period. It opened the day with a gap down of 4.82%, signalling immediate bearish sentiment among investors. Intraday, the share touched a low of ₹158, reinforcing the downward momentum. This performance notably underperformed its sector, which itself declined by 2.06%, and the broader Sensex benchmark, which fell by only 1.69% over the past week. The stock’s weekly return of -11.33% starkly contrasts with the Sensex’s modest decline, highlighting its relative weakness.
Further compounding concerns is the fact that Wires & Fabriks is trading below all key moving averages – the 5-day, 20-day, 50-day, 100-day, and 200-day averages...
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