Reliance Chemotex Industries Faces Intensified Selling Pressure Amid Ongoing Losses

Reliance Chemotex Industries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of consecutive days of losses, reflecting a challenging market environment for the microcap textile company. Over the past week, Reliance Chemotex has declined by 7.33%, while the benchmark Sensex has only fallen by 0.58%.
In a broader context, the stock has experienced a notable downturn over the past month, down 17.24%, compared to the Sensex's decline of 1.78%. The three-month performance reveals a 21.34% drop for Reliance Chemotex, significantly underperforming the Sensex, which has decreased by just 2.42%. Year-to-date, the stock has lost 21.28%, while the Sensex has shown a modest decline of 3.12%.

Currently, Reliance Chemotex is trading 4.2% away from its 52-week low of Rs 159.98 and is underperforming its sector by 0.46%. The stock is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. These factors collectively contribute to the heightened selling pressure observed in the stock.