Lakhotia Polyesters Faces Sustained Selling Pressure, Declines 4.98% Amid Nine-Day Losing Streak

Lakhotia Polyesters (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.98% in just one day, contrasting sharply with the Sensex, which has gained 0.23% during the same period. This marks the ninth consecutive day of losses for Lakhotia Polyesters, resulting in a staggering total decline of 36.89% over this timeframe.
In terms of weekly performance, the stock has plummeted 18.50%, while the Sensex has seen a modest increase of 0.64%. Despite a strong performance over the past month, where the stock rose by 7.55%, the recent trend indicates a shift in market sentiment. Over the last three months, Lakhotia Polyesters has shown impressive growth of 167.55%, but this has not shielded it from the current selling wave.

The stock opened today at Rs 111.65, hitting an intraday low of the same price, and has traded within this range throughout the day. 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 potential shift in momentum. The stock's performance relative to the Sensex highlights a concerning trend for investors in this microcap garment and apparel company.