Garnet Construction Faces Intense Selling Pressure Amid Significant Stock Losses

Garnet Construction Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past two days, resulting in a total decline of 9.76%. Today, it opened with a notable loss of 4.98%, reaching an intraday low of Rs 37.
In terms of performance relative to the Sensex, Garnet Construction has underperformed, with a decline of 4.98% compared to the Sensex's drop of 0.82%. Despite a strong performance over the past month, where it gained 29.82%, the recent trend indicates a shift in market sentiment. Over the last week, the stock has still managed to outperform the Sensex, gaining 8.76%, but the current selling pressure raises concerns.

The stock's moving averages indicate that while it remains above the 20, 50, 100, and 200-day moving averages, it is currently below the 5-day moving average, suggesting a potential short-term weakness. Factors contributing to the selling pressure may include market volatility and investor sentiment shifts, particularly in the realty sector.