Reliance Infrastructure Faces Intense Selling Pressure Amid Consecutive Losses

Reliance Infrastructure Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses, falling 9.74% over the last two days, including a sharp decline of 5.00% today alone. In comparison, the Sensex has only decreased by 0.29% today, highlighting the underperformance of Reliance Infrastructure relative to the broader market.
Over the past week, the stock has dropped 12.45%, while the Sensex has gained 0.23%. This trend continues over the month, with Reliance Infrastructure down 15.34% compared to a slight decline of 0.98% in the Sensex. Despite a strong performance over the longer term, including a 78.48% increase over the past year, the recent downturn raises questions about potential contributing factors to the selling pressure.

The stock opened at Rs 342.05 today, marking a gap down and reaching an intraday low of Rs 342.05. It has traded within this range throughout the day. While the stock remains above its 100-day and 200-day moving averages, it is currently below its 5-day, 20-day, and 50-day moving averages, indicating a shift in momentum.