Unitech Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Unitech Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive days of losses, with a notable decline of 4.92% in its one-day performance, starkly contrasting with the Sensex's decline of just 1.10%. Over the past week, Unitech's performance has also been negative, down 2.21%, while the Sensex has gained 0.47%.
In the longer term, Unitech's performance reveals a troubling trend. Over the past three months, the stock has plummeted by 34.08%, while the Sensex has risen by 3.59%. Year-to-date, Unitech is down 32.42%, compared to a modest 1.01% increase in the Sensex. The one-year performance is particularly concerning, with Unitech down 46.13% against the Sensex's 6.17% gain.

The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The broader construction and real estate sector has also faced challenges, with a decline of 3.4%, potentially contributing to the selling pressure on Unitech.