Onix Solar Energy Faces Intense Selling Pressure Amidst Significant Price Declines

Onix Solar Energy Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive days of losses, with a notable decline of 6.91% in its one-day performance, starkly contrasting with the Sensex, which saw a marginal increase of 0.02%. Over the past week, Onix Solar Energy has dropped 5.60%, while the Sensex gained 0.23%.
In the last month, the stock has plummeted by 22.55%, compared to a 3.73% rise in the Sensex. The three-month performance reveals a staggering decline of 39.04% for Onix Solar Energy, against a 4.61% increase in the Sensex. Despite a remarkable one-year performance of 315.76%, the recent trend indicates a reversal after two days of gains, with the stock hitting an intraday low of Rs 245.2, down 5.33%.

The stock's performance today underperformed its sector by 4.64%, and while it remains above the 200-day moving average, it is below the 5-day, 20-day, 50-day, and 100-day moving averages. This combination of factors suggests a challenging environment for Onix Solar Energy amidst broader market trends.