Nidhi Granites Ltd Faces Selling Pressure with 1.99% Decline Amid Profit-Taking Activity

Nidhi Granites Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced a decline of 1.99%, underperforming the Sensex, which fell by 0.48%. This marks a notable trend as Nidhi Granites has now recorded consecutive losses after a six-day streak of gains.
Despite today's downturn, Nidhi Granites has demonstrated impressive performance over longer periods. Over the past week, the stock has gained 7.09%, and in the last month, it has surged by 26.34%. Year-to-date, the stock has increased by 103.04%, significantly outperforming the Sensex's 7.97% gain. Over the past year, Nidhi Granites has skyrocketed by 193.55%, while the Sensex has only risen by 5.45%.

The stock is currently trading just 4.51% below its 52-week high of Rs 480.75. It opened at Rs 460 today and has remained at this price point, indicating a lack of volatility. Additionally, Nidhi Granites is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong overall trend despite the recent selling activity.