Candour Techtex Faces Intense Selling Pressure Amid Consecutive Losses and Declining Stock Performance

Candour Techtex Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past three days, with a total decline of 8.78%. Today, the stock fell by 4.70%, contrasting sharply with the Sensex, which gained 1.09%. Over the past week, Candour Techtex has lost 12.85%, while the Sensex declined by only 1.10%.
In the month, the stock has dropped 22.24%, compared to the Sensex's 5.74% decrease. Despite a strong performance over the past year, where it rose by 66.56%, the year-to-date performance shows a decline of 20.74%, against the Sensex's 5.58% drop.

The stock opened with a gain of 3.57% today, reaching an intraday high of Rs 87, but quickly fell to a low of Rs 80.05. Notably, while Candour Techtex's performance is currently underwhelming, the broader Textile - Machinery sector has gained 3.38%. The stock's moving averages indicate it is above the 200-day average but below the shorter-term averages, suggesting a shift in momentum.