Megri Soft Ltd Faces Intense Selling Pressure Amid Significant Price Declines
Megri Soft Ltd is experiencing notable selling pressure, with consecutive losses and a significant decline in stock performance over various time frames. The stock is currently trading below multiple moving averages, indicating a bearish trend, while the broader market, represented by the Sensex, shows positive gains.
Megri Soft Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive days of losses, with a decline of 4.97% in today's trading session alone. Over the past week, Megri Soft has seen a slight decrease of 0.65%, while its performance over the last month has dropped by 7.70%. In stark contrast, the Sensex has shown positive movement, gaining 1.55% today and 2.81% over the past week.The stock's performance relative to the Sensex highlights a troubling trend, as Megri Soft has underperformed significantly across various time frames. Year-to-date, the stock is down 31.17%, compared to the Sensex's gain of 5.70%. Additionally, the stock has fallen 21.88% over the past three months, while the Sensex has risen by 8.76%.
Today's trading saw Megri Soft open with a gain of 2.19%, reaching an intraday high of Rs 139.95, but quickly fell to a low of Rs 130.25. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The performance today has underperformed its sector by 6.1%, further emphasizing the selling pressure faced by Megri Soft Ltd.
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