Minaxi Textiles Faces Intense Selling Pressure Amid Continued Price Declines

Minaxi Textiles Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The garment and apparel microcap has recorded a notable decline of 4.83% in its one-day performance, starkly contrasting with the Sensex, which has only dipped by 0.21%. This trend of losses is not isolated, as Minaxi Textiles has experienced consecutive days of declines, with a weekly performance down by 7.94% compared to the Sensex's 0.93% drop. Over the past month, the stock has fallen by 5.29%, while the Sensex has shown a modest decline of 0.86%. Year-to-date, Minaxi Textiles has underperformed significantly, with a loss of 12.44% against the Sensex's gain of 4.46%. The stock's performance over the past year reveals a decline of 17.92%, while the Sensex has increased by 6.02%. Contributing factors to this selling pressure may include the stock's consistent underperformance relative to key moving averages, as it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This trend indicates a lack of bullish momentum, further exacerbating the selling activity in the market.