Technical Momentum Shifts Amid Construction Sector Challenges
Technical Momentum and Price Action
The stock of Rites . closed at ₹245.20, marking a slight decline from the previous close of ₹247.25. The intraday range saw a high of ₹247.00 and a low of ₹243.50, positioning the current price closer to the lower end of its 52-week range, which spans from ₹192.30 to ₹316.15. This price behaviour suggests a cautious market sentiment, with the stock navigating a zone of consolidation after earlier volatility.
Over the past week, Rites . recorded a return of -2.87%, contrasting with the Sensex’s marginal movement of -0.06%. The one-month period shows a stock return of -0.69% against the Sensex’s 0.82%, while year-to-date figures reveal a more pronounced divergence: Rites . at -15.96%…
