Relic Technologies Ltd Faces Significant Selling Pressure with 4.99% Decline Amid Ongoing Losses

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 consecutive days of losses, marking a trend reversal after two days of gains. Today, the stock opened with a notable gap down, reflecting a loss of 4.99%, and reached an intraday low of Rs 79.73.
In terms of performance relative to the Sensex, Relic Technologies has underperformed across various time frames. Over the past day, the stock declined by 4.99%, while the Sensex saw a modest gain of 0.12%. Over the past week, the stock fell by 0.33%, compared to a 1.27% increase in the Sensex. The one-month performance shows a decline of 3.35% for Relic Technologies against a 2.95% rise in the Sensex.

Despite its impressive long-term performance, with a 459.51% increase over the past year, the recent selling pressure may be attributed to market corrections or shifts in investor sentiment. The stock's current price is higher than its 5-day, 100-day, and 200-day moving averages, but lower than its 20-day and 50-day moving averages, indicating mixed signals in its short-term trend.