Onix Solar Energy Faces Intense Selling Pressure Amid Significant Price Declines

Onix Solar Energy Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with a 5.00% drop in its share price, contrasting sharply with the Sensex, which has gained 0.32% on the same day. This marks the fourth consecutive day of losses for Onix Solar Energy, accumulating a total decline of 18.53% over this period.
In terms of weekly performance, the stock has fallen 14.46%, while over the past month, it has decreased by 17.31%. Despite a strong performance in the longer term, including a 64.39% increase over the past three months, the recent trend indicates a shift in market sentiment. The stock opened at Rs 382.05 today, hitting an intraday low of the same price, and has not shown any range of movement since.

Onix Solar Energy's performance has underperformed its sector by 5.74%, and while it remains above its 100-day and 200-day moving averages, it is currently below its 5-day, 20-day, and 50-day moving averages. These trends suggest a challenging environment for the stock amid ongoing selling activity.