Saraswati Commercial Faces Intense Selling Pressure Amidst Ongoing Price Declines

Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 2.00% in its one-day performance, contrasting sharply with the Sensex, which has gained 0.37%. Over the past week, Saraswati Commercial has lost 9.61%, while the Sensex has remained relatively stable with a 0.36% increase.
This trend of consecutive losses is alarming, as the stock has now fallen for 14 consecutive days, resulting in a total decline of 22.6% during this period. The stock opened today at Rs 13,414.15, reflecting a gap down of 2%, and reached an intraday low of the same price. Furthermore, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.

Despite a strong performance over the longer term, with a remarkable 398.23% increase over the past three years, the year-to-date performance shows a decline of 31.58%, contrasting with the Sensex's gain of 4.61%. The current selling pressure may be attributed to various market factors, including investor sentiment and broader economic conditions affecting the non-banking financial company sector.