Kavveri Defence & Wireless Technologies Faces 4.97% Decline Amid Significant Selling Pressure Today
Kavveri Defence & Wireless Technologies Ltd is experiencing significant selling pressure, with a notable decline of 4.97% today and a staggering 22.54% drop over the past week. Despite its impressive long-term performance, the stock has faced six consecutive days of losses, reflecting a shift in market sentiment.
Kavveri Defence & Wireless Technologies Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.97% in just one day, contrasting sharply with the Sensex, which has gained 0.18%. Over the past week, Kavveri has seen a staggering drop of 22.54%, while the Sensex has risen by 1.16%. This marks the sixth consecutive day of losses for the stock, which has plummeted by 26.4% during this period.Despite its recent struggles, Kavveri Defence & Wireless Technologies has shown impressive long-term performance, with a remarkable 126.43% increase over the past year and an astounding 6137.57% rise over the last five years. However, the current selling trend may be attributed to various factors, including market sentiment and potential profit-taking after a strong rally earlier in the year.
The stock opened at Rs 112.9 today, hitting an intraday low of the same price, and has been trading within this range. While it remains above its 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day and 20-day moving averages, indicating a shift in momentum.
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