Nidhi Granites Faces Intense Selling Pressure Amidst Ongoing 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 experienced eight consecutive days of losses, highlighting a troubling trend for investors. Despite a slight performance uptick of 1.28% today, it stands in stark contrast to the Sensex, which has seen a marginal decline of 0.06%.
Over the past week, Nidhi Granites has remained stagnant with a performance of 0.00%, while the Sensex has dipped by 0.27%. In the longer term, the stock's performance has been mixed; it has gained 17.74% over the past three months, outperforming the Sensex's 14.01% increase. However, year-to-date, Nidhi Granites has declined by 22.61%, while the Sensex has risen by 6.71%.

The stock opened at 174.2 today and has traded at this price without significant fluctuations. It is currently above its 5-day, 50-day, 100-day, and 200-day moving averages, but below the 20-day moving average. This erratic trading pattern, coupled with the absence of trades on two days out of the last 20, may contribute to the ongoing selling pressure.