Saraswati Commercial Faces Intense Selling Pressure Amid Significant Price Declines

Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a consecutive decline over the past five days, resulting in a total loss of 9.61% during this period. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 12,185.6.
In terms of performance, Saraswati Commercial has underperformed relative to the Sensex, which has gained 0.61% today. Over the past week, the stock has dropped 7.76%, while the Sensex rose by 2.82%. Although the stock showed a strong performance over the past year with a gain of 117.42%, it has faced challenges recently, with a year-to-date decline of 37.85%, compared to the Sensex's modest drop of 2.85%.

The stock's current price is higher than its 20-day moving average but lower than its 5-day, 50-day, 100-day, and 200-day moving averages, indicating a potential shift in market sentiment. Factors contributing to the selling pressure may include broader market trends and investor sentiment within the finance/NBFC sector.