New Light Apparels Ltd Faces Intense Selling Pressure Amid Consecutive Losses

New Light Apparels Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past five days, resulting in a substantial decline of 33.02%. In today's trading session, New Light Apparels Ltd fell by 4.85%, markedly underperforming the Sensex, which gained 0.20%. Over the past week, the stock has dropped 18.10%, while the Sensex has seen a modest increase of 0.70%.
Despite a strong performance over the past year, where the stock rose 64.26% compared to the Sensex's 9.92%, the recent trend indicates a troubling shift. The stock has underperformed its sector by 6.51% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Additionally, the stock did not trade on one day out of the last 20, indicating erratic trading behavior. These factors collectively contribute to the heightened selling pressure observed in New Light Apparels Ltd.