Relicab Cable Manufacturing Faces Intense Selling Pressure Amid Ongoing Losses

Relicab Cable Manufacturing Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of losses, as the stock has experienced two consecutive days of declines. Despite today's performance of 1.48%, which outperformed the Sensex's decline of 0.71%, the stock has struggled over the past year, showing a loss of 7.33% compared to the Sensex's gain of 5.97%.
In the short term, Relicab has demonstrated resilience, with a 30.33% increase over the past month and a remarkable 96.69% rise over the last three months. However, the stock's long-term performance reveals a stark contrast, with a stagnant return over the past decade, while the Sensex has surged by 194.28%.

The stock has traded within a narrow range of Rs 0.48 today and remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The ongoing selling pressure may be attributed to broader market sentiments or specific company-related factors, but the exact reasons remain unclear.