Supreme Engineering Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Supreme Engineering Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has recorded consecutive days of losses, with a notable decline of 5.33% in its one-day performance, starkly contrasting with the Sensex's minor drop of 0.23%. Over the past week, Supreme Engineering has also underperformed, with a total decline of 5.33%, while the Sensex fell by just 1.12%.
The stock's performance over the past month reveals a staggering drop of 23.66%, compared to the Sensex's decline of 3.31%. This trend continues over longer periods, with a year-to-date performance of -47.01% against the Sensex's gain of 4.02%. The stock has hit a new 52-week low of Rs. 1.42 today, indicating a challenging market position.

Several factors may be contributing to this selling pressure, including erratic trading patterns, as the stock did not trade on four out of the last 20 days. Additionally, Supreme Engineering is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, further highlighting its current struggles in the iron and steel products sector.