Rajasthan Tube Manufacturing Faces Intense Selling Pressure Amid Significant Price Declines

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 13 days, resulting in a total loss of 23.04% during this period. Today's performance reflects a decrease of 1.99%, notably underperforming the Sensex, which fell by only 0.64%.
In the past week, Rajasthan Tube Manufacturing Co has seen a decline of 9.59%, while the Sensex decreased by 0.93%. Over the last month, the stock has dropped 12.75%, contrasting sharply with the Sensex's modest gain of 0.36%. Despite a remarkable performance over the longer term, including a staggering 1229.09% increase over the past year, the recent trend indicates a shift in market sentiment.

The stock's current price is higher than its 100-day and 200-day moving averages but lower than its 5-day, 20-day, and 50-day moving averages, suggesting a potential shift in momentum. The unusual selling activity may be attributed to various factors, including market volatility and investor sentiment, impacting the microcap iron and steel sector.