Reliance Chemotex Industries Faces Heavy Selling Pressure with Year-to-Date Loss of 28.10%

Reliance Chemotex Industries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of losses, as the company has experienced a decline over consecutive days. In the past week, Reliance Chemotex has dropped by 1.58%, while the benchmark Sensex has decreased by 1.26%. Over the past month, the stock has fallen by 2.20%, contrasting sharply with the Sensex's gain of 1.16%.
The performance of Reliance Chemotex over longer periods reveals a troubling trend. The stock has lost 28.07% over the past year, compared to a 4.20% increase in the Sensex. Year-to-date, it has declined by 28.10%, while the Sensex has risen by 6.07%. Over three years, Reliance Chemotex has seen a decrease of 20.54%, significantly underperforming the Sensex's 35.46% gain.

Currently, the stock is trading close to its 52-week low, just 4% away from Rs 146.51. Additionally, it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. The erratic trading pattern, with the stock not trading on one day out of the last 20, may also contribute to the heightened selling activity.