Mahalaxmi Fabric Mills Faces Intense Selling Pressure Amid Significant Price Declines
Mahalaxmi Fabric Mills Ltd is experiencing notable selling pressure, with the stock declining significantly over various time frames. It has fallen 6.65% in the past week and 11.70% in the last month, contrasting sharply with the positive performance of the Sensex during the same periods.
Mahalaxmi Fabric Mills Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses, falling 4.98% in just one day, and a total decline of 5.29% over the last two days. This trend is starkly contrasted with the performance of the Sensex, which has gained 0.70% today.Over the past week, Mahalaxmi Fabric Mills has dropped 6.65%, while the Sensex has risen by 2.43%. The stock's performance over the last month reflects a decline of 11.70%, compared to a modest 1.41% increase in the Sensex. Year-to-date, the stock has plummeted by 40.57%, in stark contrast to the Sensex's gain of 6.65%.
The stock opened with a loss of 4.95% today and reached an intraday low of Rs 29.36. It has been trading in a narrow range of just Rs 0.01 and is currently below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. These factors indicate a challenging environment for Mahalaxmi Fabric Mills, contributing to the ongoing selling pressure.
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