Reliance Power Faces Intense Selling Pressure Amid Significant Price Declines

Reliance Power Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.99% in a single day, underperforming the Sensex, which fell by just 0.09%. This marks the sixth consecutive day of losses for Reliance Power, accumulating a total decline of 23.42% over this period.
In terms of broader performance, Reliance Power has seen a staggering 19.39% drop over the past week and a substantial 34.87% decline in the last month, contrasting sharply with the Sensex's modest losses of 1.04% and 3.35%, respectively. Despite a strong performance over the longer term, including a 227.45% increase over three years, the recent trend indicates a significant downturn.

The stock opened with a gap down of 4.9% today and reached an intraday low of Rs 43.06. Additionally, Reliance Power is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, further highlighting the prevailing bearish sentiment. The combination of these factors suggests a challenging environment for the stock amid ongoing selling activity.