Neo Infracon Ltd Faces Significant Selling Pressure with 4.98% Decline Amid Ongoing Losses

Neo Infracon Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past two days, with a total decline of 9.7%. Today, the stock opened with a gap down of 4.98%, reaching an intraday low of Rs 39.86.
In terms of performance, Neo Infracon has underperformed the broader market, with a 1-day decline of 4.98% compared to the Sensex's modest gain of 0.31%. Over the past week, the stock has dropped 11.42%, while the Sensex has risen by 1.47%. Despite a strong performance over the past three years, where Neo Infracon gained 178.74% against the Sensex's 41.22%, recent trends indicate a shift in market sentiment.

The stock's current performance is also notable when considering its moving averages; it remains above the 50-day, 100-day, and 200-day moving averages but is below the 5-day and 20-day averages. This divergence may suggest a weakening short-term trend, contributing to the ongoing selling pressure.