Neo Infracon Ltd Faces Selling Pressure, Stock Declines 5.00% Amid Ongoing Losses

Neo Infracon Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past three days, resulting in a total loss of 14.23%. Today, Neo Infracon's stock price fell by 5.00%, underperforming the Sensex, which gained 0.17% during the same period.
In terms of weekly performance, Neo Infracon has dropped 7.97%, while the Sensex has decreased by only 1.95%. Over the past month, however, the stock has shown a positive return of 17.80%, contrasting with the Sensex's modest gain of 0.87%. Despite this recent volatility, Neo Infracon has performed well over longer time frames, with a remarkable 95.25% increase over the past year.

The stock opened today with a gap down of 4.91% and reached an intraday low of Rs 45.26. It has traded within a narrow range of just Rs 0.04. While the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day moving average. This combination of factors may be contributing to the heightened selling activity observed in Neo Infracon Ltd.