Delton Cables Faces Intense Selling Pressure Amid Consecutive Losses and Declining Stock Performance
Delton Cables Ltd is experiencing significant selling pressure, with the stock declining for eight consecutive days and a total drop of 15.15%. It has underperformed the Sensex, showing a year-to-date decline of 42.35%. The stock is trading below multiple moving averages, indicating a bearish trend.
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 eight days, resulting in a total decline of 15.15% during this period. In terms of daily performance, Delton Cables is down 2.00%, notably underperforming the Sensex, which has seen a slight increase of 0.03%.Over the past week, Delton Cables has dropped 9.10%, while the Sensex has gained 0.24%. The stock's performance over the last month reflects a decline of 7.24%, contrasting with the Sensex's positive return of 3.74%. More strikingly, year-to-date, Delton Cables has plummeted 42.35%, while the Sensex has risen by 2.78%.
The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has been trading in a narrow range of Rs 1, further highlighting the lack of buying interest. These factors collectively contribute to the ongoing selling pressure faced by Delton Cables Ltd.
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