Saraswati Commercial Faces Intense Selling Pressure Amid Ongoing Price Declines

Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has recorded a loss of 2.00%, underperforming the Sensex, which declined by just 0.25%. This marks a continuation of a downward trend, as Saraswati Commercial has experienced consecutive days of losses.
Over the past week, the stock has gained 5.82%, but this is overshadowed by its recent performance relative to the Sensex. In the last month, the stock surged by 27.53%, and over the past year, it has impressively increased by 211.20%. However, year-to-date, it has declined by 13.37%, contrasting sharply with the Sensex's gain of 4.75%.

Today, the stock opened with a gap down at Rs 16,983.7, reaching an intraday low of the same price, indicating a lack of upward movement. It is noteworthy that despite the current selling pressure, Saraswati Commercial is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock's performance today underperformed its sector by 1.47%, highlighting the prevailing bearish sentiment.