Nidhi Granites Faces Significant Selling Pressure Amidst Notable Price Declines

Nidhi Granites Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a decline of 1.75%, underperforming the Sensex, which fell by 0.93%. This marks a trend reversal for Nidhi Granites, as it has seen three consecutive days of gains prior to this downturn.
Over the past week, Nidhi Granites has managed a gain of 1.72%, contrasting with the Sensex's decline of 1.53%. However, the stock's performance over the longer term remains noteworthy, with a 51.46% increase over the past three months and a remarkable 437.59% rise over the last three years. Despite these gains, the year-to-date performance shows a decline of 21.37%, while the Sensex has increased by 3.58% during the same period.

The stock opened at 177 today and has traded at this price without a defined range. Additionally, it is currently above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position. The selling pressure may be influenced by various factors, including market sentiment and broader economic conditions affecting the miscellaneous industry.