Saraswati Commercial Faces Intense Selling Pressure Amid Significant Price Declines

Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a consecutive decline over the past six days, resulting in a total loss of 11.41% during this period. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 11,941.90.
In terms of performance, Saraswati Commercial has underperformed the Sensex, which gained 0.43% today. Over the past week, the stock has dropped by 9.61%, while the Sensex rose by 3.85%. The three-month performance shows a stark decline of 32.15% for Saraswati Commercial, compared to a minor decrease of 1.75% for the Sensex. Year-to-date, the stock is down 39.09%, contrasting with the Sensex's decline of just 1.88%.

Several factors may be contributing to this selling pressure, including market sentiment and potential sector-specific challenges within the finance/NBFC industry. The stock's current price is above its 20-day moving average but below its 5-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the short to medium term.