Gretex Corporate Services Faces Intense Selling Pressure Amid Significant Price Declines

Gretex Corporate Services Ltd is currently facing significant selling pressure, with today's trading session showing only sellers. The stock has experienced a notable decline of 4.97%, contrasting sharply with the Sensex, which has gained 0.53% today. This marks a continuation of a downward trend, as Gretex has recorded consecutive losses over the past week, with a total decline of 4.25%, while the Sensex fell only 1.11% during the same period.
Over the past month, Gretex's performance has been more favorable, showing an increase of 11.99%, compared to the Sensex's 4.41% rise. However, the longer-term view reveals a troubling picture, with a staggering 33.42% drop over the last three months, while the Sensex has only decreased by 4.40%. Year-to-date, Gretex has declined by 33.38%, significantly underperforming the Sensex's modest 2.19% loss.

Today's trading has been characterized by erratic activity, with the stock opening at Rs 515 and reaching an intraday low of the same price, indicating a lack of upward movement. Additionally, Gretex is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, further highlighting the prevailing selling pressure in the market.