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 12 days, resulting in a total loss of 21.48%. In today's trading session, the stock fell by 1.99%, underperforming the Sensex, which decreased by only 0.23%.
Over the past week, Rajasthan Tube Manufacturing Co has seen a notable decline of 9.60%, while the Sensex has dropped by 0.89%. The stock's performance over the last month is also concerning, with a decrease of 9.21%, contrasting sharply with the Sensex's gain of 1.06%. Despite a remarkable performance in the longer term, including a staggering 1276.92% increase over the past year, the recent trend indicates a shift in market sentiment.

The stock is currently trading below its 5-day, 20-day, and 50-day moving averages, although it remains above the 100-day and 200-day moving averages. This shift may reflect underlying concerns within the microcap iron and steel sector, contributing to the ongoing selling pressure.