Optiemus Infracom Faces Intense Selling Pressure Amid Significant Price Declines

Optiemus Infracom Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 5.13%, sharply contrasting with the Sensex's modest drop of 0.24%. This marks a trend reversal after five consecutive days of gains, indicating a shift in market sentiment.
Over the past week, Optiemus Infracom has outperformed the Sensex with a gain of 6.12%, but its longer-term performance reveals a concerning trend. The stock has lost 12.18% over the past month and a staggering 40.76% in the last three months, while the Sensex has remained relatively stable. Year-to-date, the stock is down 38.56%, significantly underperforming the Sensex, which has only dipped 0.44%.

Today's trading saw the stock open with a gain of 3.46%, reaching an intraday high of Rs 469.8 before plummeting to a low of Rs 430.8. The high volatility of 6.66% indicates a turbulent trading environment. Additionally, while the stock is above its 5-day moving average, it remains below its 20, 50, 100, and 200-day moving averages, further highlighting the current selling pressure.