Aveer Foods Faces Significant Selling Pressure Amid Notable Price Decline

Aveer Foods Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.92%, contrasting sharply with the Sensex, which has gained 0.46%. This marks a trend reversal for Aveer Foods, which had enjoyed five consecutive days of gains prior to today’s downturn.
Over the past week, Aveer Foods has performed well, up 9.54%, and has shown impressive growth over the past month and year, with increases of 11.83% and 54.50%, respectively. However, today’s performance underperformed the sector by 5.07%. The stock opened with a gap up of 5%, reaching an intraday high of Rs 828.6, but quickly fell to a low of Rs 749.7, indicating high volatility with an intraday fluctuation of 5%.

Despite the current selling pressure, Aveer Foods remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong overall trend in the longer term. The recent selling activity may be attributed to profit-taking after a strong rally, as well as market sentiment shifts.