Relicab Cable Manufacturing Faces Intense Selling Pressure Amid Significant Price Declines

Relicab Cable Manufacturing Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a consecutive decline over the past six days, resulting in a total loss of approximately 9.61% during this period. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 85.87.
In terms of performance relative to the Sensex, Relicab Cable Manufacturing has underperformed across various time frames. Over the past day, the stock fell by 2.00%, while the Sensex gained 0.10%. In the past week, the stock's decline of 9.58% starkly contrasts with the Sensex's increase of 1.99%. Although the stock showed a positive performance of 7.34% over the past month, it has struggled over the longer term, with a year-to-date decline of 6.41% compared to the Sensex's gain of 7.10%.

Factors contributing to the selling pressure may include market sentiment and broader economic conditions affecting the microcap sector. The stock's current trading levels are above its 50-day and 100-day moving averages but below its 5-day, 20-day, and 200-day moving averages, indicating a potential shift in momentum.