Shares of Tata Group's #Trent Ltd. are the worst performers on the Nifty 50 index for the month of January so far. They are also among the worst performers on the benchmark index in Wednesday's trading session.

Incidentally, Trent was the best performing stock on the Nifty 50 index in 2024 with gains of over 133%.

For the month of January, Trent, which became a part of the Nifty 50 in September last year, is the worst performing stock on the index. Shares of the Tata Group enterprise have declined 21% so far this month.

With today's drop, Trent shares have slipped below their 200-Day Moving Average (DMA), which is now placed at levels of ₹6,120. Its Relative Strength Index (RSI) has also declined to 25, which means the stock is now in "oversold" territories. An RSI reading below 30 indicates that the stock is "oversold."

The stock now has also corrected 33% from its all-time high level of ₹8,345, which it had hit on October 14 last year.
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#Trent