Onix Solar Energy Faces Intense Selling Pressure Amid Consecutive Losses

Onix Solar Energy Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past three days, resulting in a total decline of 13.26%. Today, the stock fell by 3.33%, underperforming the Sensex, which saw a slight increase of 0.07%.
In the past week, Onix Solar Energy has dropped 9.71%, while the Sensex decreased by only 0.71%. Over the last month, the stock has plummeted by 35.75%, contrasting sharply with the Sensex's minor decline of 0.48%. Despite a strong performance over the longer term, including a remarkable 224.62% increase over the past year, the recent trend indicates a troubling shift.

The stock's price summary reveals that it touched an intraday low of Rs 313, marking a 7.67% decline. Additionally, while the stock remains above its 200-day moving average, it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages. This combination of factors suggests a challenging environment for Onix Solar Energy as it navigates through this period of heightened selling activity.