Rajasthan Tube Manufacturing Co Faces 4.99% Decline Amid Significant Selling Pressure and Losses

Rajasthan Tube Manufacturing Co Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past four days, resulting in a total loss of approximately 10.69% during this period. Today's performance reflects a drop of 4.99%, starkly contrasting with the Sensex, which has gained 0.25%.
Over the past week, Rajasthan Tube Manufacturing Co has underperformed the broader market, with a weekly decline of 10.64% compared to the Sensex's increase of 1.77%. The stock's performance over the last month also reveals a downward trend, with a loss of 8.53% against the Sensex's gain of 3.24%.

Despite a remarkable one-year performance of 1066.61%, the recent selling pressure may be attributed to various factors, including market sentiment and potential profit-taking after substantial gains. The stock opened today with a gain of 2.53%, reaching an intraday high of Rs 40.5, but quickly fell to a low of Rs 37.53. Notably, 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, indicating a shift in momentum.