Saraswati Commercial Faces Intense Selling Pressure Amidst Consecutive Losses

Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has been on a downward trend, experiencing consecutive losses for the past nine days, resulting in a total decline of 14.37% during this period. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 14,839.8.
In terms of performance, Saraswati Commercial has underperformed relative to the Sensex, which has only seen a minor decline of 0.24% today. Over the past week, the stock has dropped 9.60%, while the Sensex has decreased by just 0.35%. The one-month performance shows a stark contrast, with Saraswati Commercial down 11.40%, compared to a 1.49% increase in the Sensex.

Despite a strong performance over the longer term, including a remarkable 501.84% increase over three years, the stock's year-to-date performance is concerning, showing a decline of 24.31% against the Sensex's gain of 4.22%. The stock's current price is higher than its 50-day moving average but lower than its 5-day, 20-day, 100-day, and 200-day moving averages, indicating a potential shift in market sentiment.