Valiant Communications Faces Selling Pressure with 2% Decline, Marking Second Day of Losses

Valiant Communications Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past two days, resulting in a total decline of 3.96%. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 773.15.
In terms of performance, Valiant Communications has underperformed the sector by 1.32% today. Over the past week, the stock has declined by 0.86%, while the Sensex has dropped by 1.38%. However, on a longer-term basis, Valiant has shown remarkable growth, with a 95.89% increase over the past year compared to the Sensex's 4.07%.

Despite its strong performance in the past, the current selling pressure may be attributed to various factors, including market sentiment and potential profit-taking after substantial gains. The stock remains above its 50-day, 100-day, and 200-day moving averages, but is currently below its 5-day and 20-day moving averages, indicating a shift in short-term momentum.