Relic Technologies Faces Intense Selling Pressure Amid Notable Stock Price Decline

Relic Technologies Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company, classified as a microcap in the Non-Banking Financial Company (NBFC) sector, has experienced a notable decline of 5.00% in its stock price, contrasting sharply with the Sensex, which has only dipped by 0.31%. This marks a trend reversal for Relic Technologies, which had enjoyed four consecutive days of gains prior to this downturn.
Over the past week, the stock has outperformed the Sensex with a gain of 5.72%, but its one-month performance reveals a decline of 1.44%, while the Sensex has risen by 1.38%. In the longer term, Relic Technologies has shown impressive growth, with a staggering 382.87% increase over the past year compared to the Sensex's modest 2.14% rise.

Today's trading saw the stock reach an intraday high of Rs 79.99, before falling to a low of Rs 73. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position. The selling pressure may be influenced by various market dynamics, including profit-taking after substantial gains and broader market sentiment.