Rajoo Engineers Faces Intense Selling Pressure Amid Continued Price Declines

Rajoo Engineers Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced a notable decline of 4.98%, sharply contrasting with the Sensex's minor drop of 0.16%. This marks a continuation of a downward trend, as Rajoo Engineers has recorded consecutive days of losses following a brief period of gains.
Over the past week, the stock has performed well with a 13.01% increase, but this is overshadowed by its 3-month performance, which shows a decline of 9.54%. Year-to-date, Rajoo Engineers has plummeted by 42.06%, while the Sensex has gained 5.50%. The stock's performance over the last year is particularly concerning, with a drop of 26.15% compared to the Sensex's modest increase of 2.14%.

Today's trading saw the stock reach an intraday low of Rs 137.1, reflecting a 4.49% decrease. Despite being above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average, indicating a potential trend reversal. The selling pressure may be attributed to broader market sentiments and specific challenges within the industrial manufacturing sector.