Delton Cables Faces Intense Selling Pressure Amid Significant Price Declines
Delton Cables Ltd is experiencing notable selling pressure, with the stock declining over consecutive days and significantly underperforming the Sensex. Recent trends show substantial losses over various time frames, while the stock remains below key moving averages, indicating a bearish outlook amid recent volatility.
Delton Cables Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past three days, resulting in a total decline of 9.12%. Today, Delton Cables fell by 4.66%, significantly underperforming the Sensex, which decreased by only 0.63%. Over the past week, the stock has dropped 8.92%, while the Sensex has gained 2.76%. This trend continues over the month, with Delton Cables down 9.76% compared to the Sensex's rise of 3.92%. In the last three months, the stock has plummeted by 38.05%, contrasting sharply with the Sensex's modest decline of 1.20%.
Despite a strong performance over the longer term, with a 1,136.39% increase over three years, the recent year-to-date performance shows a decline of 36.65%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The day's trading saw an intraday high of Rs 723.65 and a low of Rs 671.20, reflecting the volatility in the stock's performance.
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