Candour Techtex Ltd Faces Intense Selling Pressure Amid Consecutive Losses

Candour Techtex Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company, operating in the textile machinery sector, has experienced consecutive losses over the past two days, totaling a decline of 6.03%. Today, the stock fell by 4.99%, significantly underperforming the Sensex, which decreased by only 0.93%.
In the past week, Candour Techtex has seen a 5.69% drop, contrasting sharply with the Sensex's gain of 2.44%. Over the last month, the stock has declined by 1.79%, while the Sensex has risen by 3.60%. Despite a strong performance over the past year, where the stock surged by 125.75% compared to the Sensex's 6.65%, the year-to-date performance shows a decline of 10.68% against the Sensex's minor drop of 1.09%.

The stock opened today with a gain of 3.95%, reaching an intraday high of Rs 98.7, but quickly fell to a low of Rs 90.21. Notably, while the stock remains above its 200-day moving average, it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages, indicating a potential shift in market sentiment.