Sadhana Nitro Chem Faces Intense Selling Pressure Amidst Significant Price Declines

Sadhana Nitro Chem Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past 21 days, resulting in a staggering loss of 65.6% during this period. Today, the stock fell by 4.94%, sharply contrasting with the Sensex, which only declined by 0.21%.
Over the past week, Sadhana Nitro Chem has seen a decline of 22.28%, while the Sensex managed a slight gain of 0.15%. The stock's performance over the last month is particularly concerning, with a drop of 67.32% compared to the Sensex's modest increase of 1.32%. Year-to-date, Sadhana Nitro Chem has plummeted by 84.26%, while the Sensex has risen by 6.90%.

The stock has reached a new 52-week low of Rs. 6.35 today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The ongoing selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the commodity chemicals sector.