Mega Corporation Faces Significant Selling Pressure Amidst Recent Price Decline

Mega Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a decline of 2.74% in its stock price, contrasting sharply with the Sensex, which has only dipped by 0.11%. This marks a trend reversal for Mega Corporation, which had enjoyed six consecutive days of gains prior to this downturn.
Over the past week, Mega Corporation's performance has been relatively strong, up 11.37%, while the Sensex has decreased by 0.31%. However, the year-to-date performance reveals a stark contrast, with Mega Corporation down 29.53% compared to the Sensex's gain of 6.66%.

In terms of longer-term performance, Mega Corporation has shown impressive growth, with a 3-year increase of 113.51% and a staggering 1242.09% over five years. Despite this, the recent selling pressure could be attributed to various factors, including market sentiment and potential profit-taking after a strong rally. The stock remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position for this microcap non-banking financial company.