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 company has recorded consecutive days of losses, with a notable decline of 5.00% in its one-day performance, contrasting sharply with the Sensex's modest gain of 0.14%. Over the past week, Reliance Power has seen a steep drop of 14.99%, while the Sensex fell by just 1.54%.
In the last month, the stock has plummeted by 23.90%, compared to a 2.58% decline in the Sensex. Despite a strong performance over the longer term, including a 70.67% increase over the past year, the recent trend indicates a shift in market sentiment.

The stock's price summary reveals that it underperformed its sector by 5.11% today, hitting an intraday low of Rs 53.42. While Reliance Power remains above its 100-day and 200-day moving averages, it is currently below its 5-day, 20-day, and 50-day moving averages. This divergence may indicate a shift in investor confidence, contributing to the ongoing selling pressure.