Reliance Home Finance Faces Intense Selling Pressure Amidst Ongoing Price Declines

Reliance Home Finance Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with its stock price down by 1.93% in a single day, contrasting sharply with the Sensex, which has gained 0.15% during the same period. This marks the 13th consecutive day of losses for Reliance Home Finance, resulting in a total decline of 22.32% over this timeframe.
In terms of weekly performance, the stock has dropped 9.24%, while the Sensex has risen by 2.04%. Despite a strong performance over the past month, where the stock increased by 19.65%, the recent trend indicates a reversal. Over the last three months, Reliance Home Finance has shown impressive growth of 89.13%, significantly outperforming the Sensex's 10.14% increase.

The stock's current price is above its 50-day, 100-day, and 200-day moving averages, yet it is below its 5-day and 20-day moving averages, indicating a potential shift in momentum. The ongoing selling pressure may be attributed to various market factors, including investor sentiment and broader economic conditions affecting the housing finance sector.