Cupid Breweries Faces Intense Selling Pressure Amid Significant Price Declines

Cupid Breweries & Distilleries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline, losing 4.98% in a single day, while the Sensex remained unchanged. Over the past week, Cupid Breweries has seen a steep drop of 18.50%, compared to a modest gain of 0.63% for the Sensex. The trend continues with a monthly decline of 24.66%, contrasting sharply with the Sensex's 7.21% increase.
This microcap stock has been on a downward trajectory for the last eight consecutive days, accumulating a total loss of 25.04% during this period. Today, it opened with a gap down of 4.61% and reached an intraday low of Rs 89.65. The stock has traded within a narrow range of just Rs 0.35, indicating limited volatility.

Despite its year-to-date performance showing a gain of 38.54%, which outpaces the Sensex's 3.40%, the recent trends suggest a shift in market sentiment. The stock's current performance is below its sector average by 5.17%, and it is trading below several short-term moving averages, although it remains above the 200-day moving average. These factors may be contributing to the ongoing selling pressure.