Veritas (India) Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Jan 05 2024 03:35 PM IST
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Veritas (India) Ltd is experiencing notable selling pressure, marked by four consecutive days of losses totaling 6.22%. The stock has declined significantly over the past year, down 72.53%, and is currently trading near its 52-week low, below all major moving averages.
Veritas (India) Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced consecutive losses over the past four days, resulting in a total decline of 6.22% during this period. In today's performance, Veritas (India) Ltd fell by 1.99%, underperforming the Sensex, which declined by 1.02%.

Over the past week, the stock has dropped 4.35%, while the Sensex saw a smaller decrease of 2.14%. The longer-term performance reveals a troubling trend for Veritas, with a staggering 72.53% decline over the past year compared to the Sensex's gain of 8.82%. Year-to-date, the stock is down 55.77%, contrasting sharply with the Sensex's positive performance of 3.36%.

Currently, Veritas (India) is trading close to its 52-week low, just 3.69% away from Rs 369.25. The stock opened at Rs 383.4 today and has not shown any range in trading. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend.
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