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 declined by 1.70%, contrasting sharply with the Sensex, which has gained 1.51% during the same period.
In the broader context, Nidhi Granites has experienced a notable performance over the last month, rising by 13.46%, outpacing the Sensex's 8.92% increase. However, the year-to-date performance reveals a stark decline of 26.97%, while the Sensex has risen by 4.76%.

The stock's erratic trading pattern is evident, as it did not trade on one day out of the last 20. Despite being above the 20-day, 50-day, 100-day, and 200-day moving averages, it remains below the 5-day moving average, indicating potential volatility. The microcap company, operating in the Mining & Minerals sector, has shown impressive long-term growth, with a 374.46% increase over three years and a staggering 1377.75% rise over five years. However, the current selling pressure raises questions about the sustainability of this performance.