63 Moons Technologies Faces Intense Selling Pressure Amid Consecutive Losses

May 23 2025 10:40 AM IST
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63 Moons Technologies Ltd is experiencing notable selling pressure, with the stock declining over the past two days. It opened lower today, marking a significant drop. Despite strong annual performance, year-to-date results show a decline, contrasting with the broader market's gains. Current trends suggest a shift in momentum.
63 Moons Technologies Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past two days, resulting in a total decline of 9.74%. Today, it opened with a notable gap down, falling 5% to touch an intraday low of Rs 783.25.

In terms of performance, 63 Moons Technologies has underperformed the broader market, with a 1-day decline of 5.00% compared to the Sensex's modest gain of 0.64%. Over the past week, the stock has decreased by 4.28%, while the Sensex has only dipped by 1.04%. Despite a strong performance over the past year, where the stock rose by 86.91% against the Sensex's 8.03%, the year-to-date performance shows a decline of 13.34%, contrasting sharply with the Sensex's gain of 4.27%.

The current selling pressure may be attributed to various factors, including market sentiment and potential profit-taking after a strong rally in previous months. The stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, but is currently below its 5-day moving average, indicating a shift in momentum.
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