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 its stock price down 4.99% in a single day, contrasting sharply with the Sensex, which has only dipped by 0.07%. Over the past week, Onix Solar Energy has lost 22.57%, while the Sensex has gained 0.56%. The trend continues, as the stock has now fallen for six consecutive days, resulting in a total decline of 27.95% during this period.
In terms of broader performance, Onix Solar Energy has seen a staggering 32.37% drop over the past month and a 58.91% decline over the last three months. Despite a remarkable 200.87% increase over the past year, the year-to-date performance shows a decline of 19.10%, while the Sensex has risen by 3.26%.

The stock opened today at Rs 186.6, marking a gap down, and reached an intraday low of the same price. It is currently trading below its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains above the 200-day moving average. These trends indicate a challenging environment for Onix Solar Energy, with potential contributing factors to the selling pressure warranting further investigation.