Nidhi Granites Faces Intense Selling Pressure Amid Continued Price Declines

Nidhi Granites Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has recorded a loss of 1.98% today, underperforming the Sensex, which has gained 0.19%. This marks a continuation of a downward trend, as Nidhi Granites has experienced consecutive days of losses, with a weekly performance also down by 1.98% compared to a slight decline of 0.22% in the Sensex.
Over the past month, Nidhi Granites has declined by 3.01%, while the Sensex has risen by 3.51%. Year-to-date, the stock has seen a significant drop of 24.14%, contrasting sharply with the Sensex's gain of 6.95%. Despite a strong performance over the longer term, including a remarkable 418.60% increase over three years, the recent trend indicates a shift in market sentiment.

The stock opened at 170.75 and has remained at this price throughout the trading day, reflecting erratic trading patterns, as it did not trade on two days out of the last 20. Additionally, while the stock's moving averages are higher than the 50-day, 100-day, and 200-day averages, it is currently lower than the 5-day and 20-day moving averages, suggesting a potential shift in momentum.