Nidhi Granites Faces Intense Selling Pressure Amidst Ongoing Losses and Market Concerns

Nidhi Granites Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of consecutive days of losses, raising concerns among market observers. Over the past week, Nidhi Granites has recorded a performance of -1.22%, while the Sensex has declined by 1.09%.
In the context of longer-term performance, Nidhi Granites has shown resilience, with a 1-month gain of 16.82% compared to the Sensex's 7.83%. However, year-to-date, the stock has underperformed with a decline of 26.25% against the Sensex's modest gain of 1.90%. Notably, the stock has demonstrated impressive growth over three and five years, with increases of 379.08% and 1392.13%, respectively, compared to the Sensex's 46.18% and 151.64%.

The current selling pressure may be attributed to various factors, including market sentiment and recent trading patterns. The stock has exhibited erratic trading, not trading on one day out of the last 20. Despite this, Nidhi Granites is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position.