Key Events This Week
5 Jan: Sharp open interest surge amid mixed market signals
5 Jan: Technical momentum shifts signal bullish outlook
7 Jan: Significant open interest surge amid positive momentum
7 Jan: Technical momentum shifts amid mixed signals
8 Jan: Significant open interest surge amid rising market activity
5 January: Open Interest Surges Amid Mixed Price Action
On 5 January, 360 ONE WAM Ltd saw a notable 24.24% increase in open interest in its derivatives segment, rising from 6,488 to 8,061 contracts. This surge was accompanied by a futures volume of 5,636 contracts and a combined futures and options notional value exceeding ₹9,547 crores, signalling robust trading activity. Despite this, the stock price closed marginally higher at Rs.1,198.95, up just 0.03%, underperforming the Sensex’s 0.18% decline.
The divergence between rising derivatives activity and subdued price movement suggests a complex market stance, with traders possibly hedging or positioning for volatility rather than a clear directional move. The stock remained above all key moving averages, indicating a medium- to long-term bullish trend, though delivery volumes declined, hinting at reduced investor conviction in the cash segment.
5 January: Technical Momentum Signals Bullish Outlook
Technical indicators on the same day reflected a shift towards a bullish momentum. The stock closed at Rs.1,198.60, marking a 1.68% gain from the previous close, and traded near its 52-week high of Rs.1,317.25. Daily moving averages supported a bullish stance, with the price above the 50-day and 200-day averages. However, monthly MACD and KST oscillators showed mild bearishness, suggesting caution for longer-term investors.
RSI and Bollinger Bands indicated strength without overbought conditions, while volume-based On-Balance Volume (OBV) was mildly bullish on weekly charts but neutral monthly. These mixed signals highlight a cautiously optimistic technical outlook, with the stock poised for potential near-term gains but requiring vigilance for sustained momentum.
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7 January: Renewed Open Interest Surge and Positive Price Reversal
On 7 January, the stock experienced another significant open interest increase of 13.58%, with contracts rising to 9,680. Trading volume was robust at 6,353 contracts, and the combined derivatives value reached approximately ₹14,057 crores. The stock price rebounded by 0.59% to Rs.1,188, outperforming the Capital Markets sector’s 0.50% decline and the Sensex’s 0.30% fall.
Technically, the price remained above the 20-day to 200-day moving averages but dipped slightly below the 5-day average, indicating short-term consolidation. Delivery volumes declined by 4.69%, suggesting that short-term traders and derivatives players were driving the price action rather than long-term investors. The Mojo Score improved to 71.0 with a Buy grade, reflecting enhanced market confidence.
7 January: Technical Momentum Moderates Amid Mixed Signals
Despite the positive price reversal, technical momentum showed signs of moderation. The stock closed at Rs.1,186.80, down 1.01% from the previous close, with intraday volatility within a narrow range. The overall trend shifted from strongly bullish to mildly bullish, supported by bullish weekly MACD but mildly bearish monthly MACD and KST indicators.
RSI remained neutral on weekly and monthly charts, while Bollinger Bands suggested a mildly bullish outlook. Daily moving averages continued to support a positive stance, but On-Balance Volume lacked a clear trend, indicating limited volume confirmation. The stock’s long-term returns remained impressive, though recent short-term volatility and a 5.85% decline over the past year contrasted with the Sensex’s gains.
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8 January: Open Interest and Delivery Volumes Surge Amid Slight Price Dip
On 8 January, open interest rose by 12.68% to 9,348 contracts, supported by a trading volume of 18,356 contracts. The futures segment alone accounted for ₹30,297.46 lakhs in value, while options notional value reached an extraordinary ₹8,161.33 crores, culminating in a total derivatives turnover of ₹32,999.21 lakhs. Delivery volumes surged dramatically to 7.54 lakh shares, a 309.8% increase over the five-day average, signalling strong investor conviction.
Despite this, the stock price declined marginally by 0.29% to Rs.1,187, trading below the 5-day moving average but comfortably above longer-term averages. The capital markets sector and Sensex both declined by over 0.8%, making 360 ONE WAM Ltd’s relative resilience notable. The Mojo Grade remained at Buy with a score of 71.0, reflecting positive analyst sentiment amid cautious market conditions.
Daily Price Comparison: 5 to 9 January 2026
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-05 | Rs.1,198.95 | +0.03% | 37,730.95 | -0.18% |
| 2026-01-06 | Rs.1,187.00 | -1.00% | 37,657.70 | -0.19% |
| 2026-01-07 | Rs.1,193.15 | +0.52% | 37,669.63 | +0.03% |
| 2026-01-08 | Rs.1,180.75 | -1.04% | 37,137.33 | -1.41% |
| 2026-01-09 | Rs.1,140.80 | -3.38% | 36,807.62 | -0.89% |
Key Takeaways
Heightened Derivatives Activity: The week was marked by multiple significant surges in open interest and trading volumes, indicating active positioning by traders and investors. The large notional values in futures and options suggest both speculative and hedging strategies at play.
Mixed Price and Technical Signals: Despite strong derivatives activity, the stock’s price declined 4.82% over the week, underperforming the Sensex. Technical indicators showed a shift from strongly bullish to mildly bullish momentum, with mixed signals across daily, weekly, and monthly timeframes.
Investor Participation Dynamics: Delivery volumes fluctuated, with a notable spike on 8 January signalling renewed investor conviction. However, declines on other days suggest short-term traders and derivatives players were more active than long-term holders.
Relative Resilience Amid Sector Weakness: The stock outperformed the capital markets sector and Sensex on certain days, highlighting selective strength despite a broadly cautious market environment.
Mojo Score and Rating Upgrade: The upgrade to a Mojo Score of 71.0 and a Buy grade reflects improved confidence in the stock’s fundamentals and technical outlook, though caution remains warranted given recent volatility and mixed momentum.
Conclusion
360 ONE WAM Ltd’s week was characterised by active derivatives market participation and nuanced technical momentum shifts amid a challenging broader market. While the stock’s price declined more sharply than the Sensex, the sustained open interest growth and delivery volume spikes indicate evolving investor strategies and potential for future directional moves.
Technical indicators suggest a cautiously optimistic near-term outlook, supported by strong medium- and long-term moving averages but tempered by mixed momentum oscillators and volume confirmation. The Mojo Score upgrade to Buy underscores improved sentiment, yet the recent price weakness and sector headwinds counsel vigilance.
Investors and traders should monitor open interest trends, delivery volumes, and key technical levels closely in the coming weeks to better gauge the sustainability of momentum and potential catalysts within the capital markets sector.
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