Elitecon International Ltd Faces Selling Pressure with 4.99% Decline, Marking Eighth Day of Losses

Elitecon International Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with its stock price down by 4.99% in a single day, contrasting sharply with the Sensex, which has only dipped by 0.24%. This marks the eighth consecutive day of losses for Elitecon International, resulting in a staggering 28.7% decline over this period.
Over the past week, the stock has plummeted by 18.25%, while the Sensex has gained 1.04%. The one-month performance reveals a 22.02% drop for Elitecon International, compared to a modest increase of 0.95% for the Sensex. In the last three months, the stock has seen a drastic decline of 63.22%, while the Sensex has risen by 4.27%.

Despite a remarkable one-year performance of 2025.04%, the recent trends indicate a troubling trajectory. The stock opened today at Rs 121.85, hitting an intraday low of the same price, and has been trading within this range. The stock's moving averages suggest it is currently lower than the 5-day, 20-day, 50-day, and 100-day averages, although it remains above the 200-day moving average. These factors collectively contribute to the ongoing selling pressure faced by Elitecon International Ltd.