Relicab Cable Faces Intense Selling Pressure Amid Significant Price Declines

Relicab Cable Manufacturing Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a dramatic decline of 19.54% in a single day, contrasting sharply with the Sensex, which has gained 0.21%. Over the past week, Relicab has lost 33.00%, while the Sensex has risen by 1.93%. The downward trend is evident over a longer period as well, with the stock down 40.86% in the last month and 52.31% over the past three months, compared to the Sensex's respective declines of only 0.63% and 4.74%.
Today, Relicab Cable hit a new 52-week low of Rs. 47.31, reflecting a significant underperformance against its sector, which has gained 2.65%. The stock has been on a consecutive losing streak for the last 10 days, accumulating a total loss of 41.52% during this period. Intraday volatility has been high, with a range of 12.52%. Additionally, Relicab is trading below all key moving averages, indicating a challenging market position.