Neo Infracon Ltd Faces Selling Pressure, Declines 1.46% After Seven Days of Gains

Neo Infracon Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a decline of 1.46% in its stock price, contrasting with the Sensex, which has fallen by only 0.46%. This marks a notable shift after a streak of seven consecutive days of gains, indicating a potential trend reversal.
Over the past week, Neo Infracon has outperformed the Sensex with a gain of 18.48%, but the recent downturn highlights a shift in market sentiment. In the last month, the stock has surged by 34.30%, and over the past year, it has shown an impressive increase of 112.68%. However, the year-to-date performance stands at 0.00%, underperforming the Sensex's 3.39% gain.

The stock recently hit a new 52-week high of Rs.54.99, but today’s performance has underperformed its sector by 0.61%. The selling pressure may be attributed to profit-taking after a strong rally, as the stock remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.