Longview Tea Company Faces Intense Selling Pressure Amid Continued Price Declines

Longview Tea Company Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has recorded a notable decline of 3.98%, underperforming the Sensex, which has seen a slight increase of 0.09%. This marks a continuation of a downward trend, as Longview Tea has experienced consecutive days of losses, with a weekly performance of -0.91% compared to the Sensex's marginal decline of -0.03%.
Over the past month, Longview Tea's performance has been -2.00%, while the Sensex has gained 4.90%. The stock's year-to-date performance is particularly concerning, down 31.68% against the Sensex's positive return of 5.46%. Additionally, the stock has seen a significant drop of 23.30% over the past year, contrasting sharply with the Sensex's gain of 11.35%.

The stock opened today at Rs 33.75, marking a gap down from previous levels, and has since traded at this price, reaching an intraday low of Rs 33.75. Longview Tea's performance today underperformed its sector by 5.08%. The stock's moving averages indicate it is currently higher than the 50-day moving average but lower than the 5-day, 20-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.