Modella Woollens Ltd Faces Selling Pressure with 4.99% Decline Amidst Market Trends

Modella Woollens Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.99%, sharply contrasting with the Sensex's minor drop of just 0.08%. This marks a trend reversal for Modella Woollens, which had enjoyed seven consecutive days of gains prior to this downturn.
Over the past week, Modella Woollens has shown a slight increase of 0.59%, while the Sensex remained nearly flat with a 0.01% gain. However, the stock's performance over the last month reveals a decline of 0.87%, compared to the Sensex's 1.17% increase. More concerning is the three-month performance, where Modella Woollens has dropped 6.56%, while the Sensex has risen by 3.55%.

The stock opened today at Rs 68.4, hitting an intraday low of the same price, indicating a lack of trading range. Despite being above its 5-day, 100-day, and 200-day moving averages, it remains below its 20-day and 50-day moving averages. The erratic trading pattern, with two days of inactivity in the last 20 days, may also contribute to the current selling pressure.