I’m familiar with cases where the promoters were constantly selling just before the stock price skyrocketed! Many such cases actually if you just go back and look the hostory of a few stocks.
As Peter Lynch said ‘Promoters can sell due to a variety of reasons but they buy only for one reason, they know that the prices will go up’. So I don’t attach much importance promoters or FII/DII selling but to Promoters buying!!
In short prom selling is not as much a negative thing, in many cases (such as DroneAcharya also I believe for example) as promoters buying is a positive thing! my 2 cents
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