Kavveri Defence Faces Intense Selling Pressure Amid Significant Price Declines

Kavveri Defence & Wireless Technologies Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a consecutive decline over the past eight days, resulting in a total loss of 13.37% during this period. Today, Kavveri's performance is down by 1.98%, notably underperforming the Sensex, which has decreased by only 0.32%.
In the past week, Kavveri has seen a decline of 8.01%, while the Sensex has fallen by just 0.43%. Despite a strong performance over the past year, where the stock surged by 235.30% compared to the Sensex's 10.13%, its year-to-date performance has been disappointing, with a drop of 23.64% against the Sensex's gain of 4.14%.

The stock opened at 49.49 and has remained at this price, indicating a lack of upward movement. While it is trading above its 20-day, 50-day, and 200-day moving averages, it is below its 5-day and 100-day moving averages. This trend suggests a shift in market sentiment, contributing to the ongoing selling pressure.