Nidhi Granites Faces Intense Selling Pressure Amidst Consecutive Losses and Profit-Taking 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. In terms of performance, Nidhi Granites has underperformed relative to the Sensex today, recording a flat performance of 0.00% compared to the Sensex's gain of 0.35%.
Over the past week, the stock has seen a decline of 7.25%, while the Sensex has increased by 0.78%. The one-month performance reflects a notable rise of 26.14% for Nidhi Granites, significantly outpacing the Sensex's 1.42% increase. However, the recent selling pressure may be attributed to profit-taking after a remarkable year-to-date performance of 37.29%, compared to the Sensex's 3.65%.

Despite the current selling activity, Nidhi Granites has reached a new 52-week and all-time high of Rs. 309.05 today. The stock continues to trade above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong long-term trend, even amidst the recent volatility.