Manipal Finance Corporation Faces Intense Selling Pressure Amid Notable Price Declines

Manipal Finance Corporation Ltd is currently facing significant selling pressure, with today's trading session showing only sellers. The stock has recorded a notable decline of 4.99%, underperforming the Sensex, which has gained 0.29%. This marks a continuation of a downward trend, as the stock has experienced consecutive losses over the past week, with a total decline of 4.99%, and a more substantial drop of 7.97% over the past month.
In terms of performance relative to the Sensex, Manipal Finance Corporation has shown impressive gains over the past year, up 245.11%, but the recent selling activity raises concerns. Year-to-date, the stock is still up 166.43%, significantly outperforming the Sensex's 5.49% increase. However, the stock's erratic trading pattern, having not traded on five out of the last 20 days, may be contributing to the current selling pressure.

Today's trading opened with a gap down at Rs 19.05, which also marked the day's low. The stock has remained at this price level throughout the session. While it is trading above its 50-day, 100-day, and 200-day moving averages, it is below its 5-day and 20-day moving averages, indicating a shift in momentum.