Nidhi Granites Faces Increased Selling Pressure Amidst Ongoing Price Declines

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, as the stock has underperformed relative to the broader market. Over the past week, Nidhi Granites has declined by 1.69%, while the Sensex has gained 1.89%.
In the short term, the stock's performance has been mixed; it has shown a notable increase of 9.91% over the past month, yet it has struggled year-to-date, down 22.61% compared to the Sensex's 7.45% gain. Despite impressive long-term growth, including a staggering 429.08% increase over three years, recent trading activity indicates a shift in market sentiment.

The price summary reveals that Nidhi Granites has underperformed its sector by 1.27% today and has exhibited erratic trading patterns, not trading on one day out of the last 20. While the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day moving average, suggesting a potential shift in momentum. These factors may contribute to the ongoing selling pressure observed in the market.