Manipal Finance Corporation Faces Intense Selling Pressure Amid Significant Price Declines

Manipal Finance Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive days of losses, with a notable decline of 4.94% in just one day, contrasting sharply with the Sensex's minor drop of 0.11%. Over the past week, the stock has plummeted by 9.68%, while the Sensex has gained 0.92%.
In the last month, Manipal Finance Corporation's performance has deteriorated by 28.79%, compared to a 1.51% increase in the Sensex. The three-month performance reveals a staggering decline of 38.29%, while the Sensex remains relatively stable with a 0.16% increase. Despite a strong year-to-date performance of 64.34%, the stock's recent trends indicate a troubling shift.

Contributing factors to this selling pressure may include erratic trading patterns, as the stock did not trade on two days out of the last 20. Additionally, while the stock is above its 200-day moving average, it remains below its 5-day, 20-day, 50-day, and 100-day moving averages, suggesting a potential shift in market sentiment. Overall, the stock's performance relative to the Sensex highlights a concerning trend for investors in Manipal Finance Corporation.