Salguti Industries Faces Intense Selling Pressure Amid Significant Price Declines

Salguti Industries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with its stock price down 4.98% in just one day, contrasting sharply with the Sensex, which has gained 0.25%. Over the past week, Salguti Industries has lost 18.51%, while the Sensex has risen by 1.89%. This trend continues over longer periods, with the stock down 36.44% in the last month and 48.18% over the past three months, significantly underperforming the Sensex, which has gained 8.19% during the same timeframe.
Today, Salguti Industries hit a new 52-week low of Rs. 23.86, reflecting a consistent downward trajectory, as the stock has now fallen for four consecutive days. The stock opened with a gap down of 4.98% and has not shown any range, trading consistently at this low price. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The erratic trading pattern, with the stock not trading on one day out of the last 20, may also contribute to the current selling pressure.