Nakoda Group Faces Intensified Selling Pressure Amid Continued Price Declines

Nakoda Group of Industries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of consecutive days of losses, reflecting a challenging market environment for the microcap FMCG company. Over the past week, Nakoda Group has declined by 1.50%, while the benchmark Sensex has only dipped by 0.21%.
In a broader context, the stock's performance has been notably poor, with a 1-month decline of 5.49% compared to a 1.62% gain in the Sensex. Over the last year, Nakoda Group has seen a staggering drop of 33.50%, contrasting sharply with the Sensex's modest increase of 4.45%. Year-to-date, the stock is down 35.35%, while the Sensex has risen by 6.89%.

The stock is currently trading close to its 52-week low, just 2.25% away from Rs 28.25. Additionally, Nakoda Group is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. These factors collectively contribute to the ongoing selling pressure observed in the stock.