Neo Infracon Ltd Faces Selling Pressure with 1.89% Decline Amid 18.99% Loss Over Five Days

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 five days, resulting in a total loss of 18.99%. Today, the stock opened with a notable gap down of 4.89%, reflecting a day’s performance of -1.89%, which starkly contrasts with the Sensex's minimal decline of just 0.03%.
In terms of weekly performance, Neo Infracon has dropped 11.95%, while the Sensex has gained 0.67%. Despite a strong performance over the past month, where the stock rose by 20.96%, the recent trend indicates a reversal. Over the last three months, Neo Infracon has outperformed the Sensex with a gain of 52.24%, but the current selling pressure raises concerns.

The stock's intraday high reached Rs 47.2, while it fell to a low of Rs 42.75. Although it remains above the 50-day, 100-day, and 200-day moving averages, it is currently below the 5-day and 20-day moving averages. This trend suggests a shift in market sentiment, contributing to the ongoing selling activity.