Soni Medicare Faces Intense Selling Pressure Amidst Significant 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 down by 2.00% in a single day, compared to a lesser drop of 0.70% in the Sensex. Over the past week, Soni Medicare has lost 8.17%, while the Sensex has decreased by only 1.30%. The trend continues with a staggering 35.77% decline over the past month, contrasting sharply with the Sensex's minimal change of 0.03%.
This microcap hospital company has now seen consecutive losses for 21 days, resulting in a total decline of 33.13% during this period. Today's trading saw the stock hit an intraday low of Rs 49.54, reflecting a narrow trading range of just Rs 0.01. Despite a strong performance over the longer term, including an 84.10% increase over the past year, the recent downturn raises questions about potential contributing factors to the selling pressure. The stock is currently trading above its 200-day moving average but below its shorter-term moving averages, indicating a shift in market sentiment.