Delton Cables Faces Intense Selling Pressure Amid Consecutive Losses and Price Declines

Delton Cables 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, resulting in a total decline of 12.27%. Today, the stock fell by 5.73%, significantly underperforming the Sensex, which decreased by only 0.91%. In terms of weekly performance, Delton Cables has dropped 10.74%, while the Sensex has remained relatively stable with a decline of just 0.17%. Over the past month, the stock has decreased by 2.15%, again underperforming the Sensex, which saw a minimal drop of 0.08%. The stock's performance over a longer timeframe reveals a stark contrast; while it has gained 47.34% over the past year, it has faced a year-to-date decline of 36.49%, compared to the Sensex's gain of 4.50%. Delton Cables is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock reached an intraday low of Rs 669.35 today, reflecting the ongoing selling pressure in the market.