Soni Medicare Ltd Faces Intense Selling Pressure Amidst Extended Price Declines

Soni Medicare 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 falling by 1.99% in a single day, compared to a modest drop of 0.19% in the Sensex. This marks the continuation of a troubling trend, as Soni Medicare has now recorded losses for 18 consecutive days, resulting in a total decline of 30.17% during this period.
Over the past week, the stock has decreased by 9.56%, while the Sensex has only slipped by 0.30%. The one-month performance reveals a stark contrast, with Soni Medicare down 19.18%, while the Sensex has gained 1.54%. Despite a strong performance earlier in the year, with a 143.31% increase over the past year compared to the Sensex's 10.27%, the recent downturn raises concerns.

The stock opened at 59.66 and has remained at this price level, indicating a lack of upward momentum. While Soni Medicare's moving averages show it is above the 100-day and 200-day averages, it is below the 5-day, 20-day, and 50-day averages, suggesting a shift in market sentiment. The combination of these factors contributes to the ongoing selling pressure faced by Soni Medicare Ltd.