Ankit Metal & Power Faces Intense Selling Pressure Amid Significant Price Declines

Ankit Metal & Power 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 4.76% in its one-day performance, starkly contrasting with the Sensex, which gained 0.82% during the same period. Over the past week, Ankit Metal & Power has also underperformed, recording a 4.76% drop compared to the Sensex's 4.54% increase.
The stock's performance over the last three months reveals a staggering decline of 51.52%, while the Sensex has only dipped by 1.19%. Year-to-date, Ankit Metal & Power has plummeted by 49.04%, significantly underperforming the Sensex, which has seen a minor decline of 0.77%. Over the past three years, the stock has lost 74.71%, while the Sensex has appreciated by 34.62%.

Contributing factors to this selling pressure may include erratic trading patterns, as the stock did not trade on four out of the last 20 days, and a broader sector decline, with the Steel/Sponge Iron/Pig Iron industry falling by 5.36%. Additionally, the stock's moving averages indicate a concerning trend, being lower than the 50-day, 100-day, and 200-day averages, despite being higher than the 5-day and 20-day averages.