In the case case if mrf it is a pure case of sentiment being...

In the case case if mrf it is a pure case of sentiment being affected by the following factors:
Speculative nature of mrf
Lack of clarity as unable to provide in classical mining templates i.e. no jorc and future projections
Graphite sentiment has diminished in the ST
Market is risk averse and does not provide as much reward for potential
More trading on volatility that investment on hope these days
Imo the market is waiting for mrf's firt production....... it's success in this will determine the integrity of Management and it's projects. In the meantime we trade with the spikes and remain prepared for the volatility.
Once value based investors take a position, only then will gains be made. Very rare will these positions involve large gaps as no insto wants to buy at premium prices. They will cap as long as possible and use ta to accumulate.