Relicab Cable Manufacturing Faces Intense Selling Pressure Amid Significant Price Declines

Relicab Cable Manufacturing Ltd is currently facing significant selling pressure, with today’s trading session showing only sellers. The stock has experienced a consecutive decline over the past seven days, resulting in a total loss of 11.41%. Today, it reported a performance drop of 1.99%, underperforming the Sensex, which fell by only 0.23%.
In the past week, Relicab Cable Manufacturing has seen a substantial decline of 9.58%, contrasting sharply with the Sensex's gain of 0.90%. Over the last month, however, the stock has managed a positive return of 3.90%, outperforming the Sensex's 2.61%. Despite this, the longer-term view reveals a year-to-date decline of 8.27%, while the Sensex has risen by 6.86%.

The stock opened at 84.16 and has remained at this price throughout the trading day. It is currently trading above its 50-day and 100-day moving averages but below its 5-day, 20-day, and 200-day moving averages. This trend indicates a potential shift in market sentiment, contributing to the ongoing selling pressure.