Chandrima Mercantiles Faces Intense Selling Pressure Amidst Ongoing Losses

Chandrima Mercantiles Ltd is currently facing significant selling pressure, with only sellers active in the market today. The stock has experienced a notable decline of 5.00%, sharply contrasting with the Sensex's modest drop of 0.32%. This marks a continuation of a troubling trend, as Chandrima Mercantiles has now recorded losses for 21 consecutive days, accumulating a staggering 50.49% decline during this period.
Over the past week, the stock has plummeted by 22.59%, while its performance over the last month reveals a staggering 53.40% decrease. In comparison, the Sensex has shown relative stability, with only a 1.78% decline in the same timeframe. Year-to-date, Chandrima Mercantiles has fallen by 41.00%, significantly underperforming the Sensex, which is down just 3.12%.

The stock opened today at Rs 49.78, reflecting a gap down of 5%, and has since remained at this price point, reaching an intraday low of Rs 49.78. While the stock's moving averages indicate it is above the 200-day average, it remains below the 5-day, 20-day, 50-day, and 100-day averages, further highlighting the current bearish sentiment surrounding the stock.