Crestchem Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Crestchem Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past nine days, resulting in a total loss of 16.58% during this period. Today, Crestchem's stock opened with a gap down of 2%, reaching an intraday low of Rs 210.8, and has since traded at this price without any notable range.
In terms of performance relative to the Sensex, Crestchem has underperformed significantly. Over the past day, the stock fell by 2.00%, while the Sensex gained 0.44%. The one-week performance shows a decline of 9.57% for Crestchem compared to a 1.68% increase in the Sensex. Although the stock had a strong performance over the past month, gaining 24.18%, its three-month performance reflects a decline of 18.33%, contrasting with the Sensex's slight drop of 1.36%.

Crestchem's current trading position is below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The ongoing selling pressure may be attributed to various market factors, including investor sentiment and broader economic conditions affecting the chemicals industry.