Open Interest and Volume Dynamics
On 3 February 2026, 360 ONE WAM Ltd recorded an open interest (OI) of 8,212 contracts in its derivatives segment, marking a substantial increase of 777 contracts or 10.45% compared to the previous session’s 7,435. This rise in OI, coupled with a daily volume of 3,825 contracts, indicates fresh positions being established rather than existing ones being squared off. The futures segment alone accounted for a value of approximately ₹7,182.33 lakhs, while options contributed an overwhelming ₹15,072.19 crores, culminating in a total derivatives value of ₹7,469.02 lakhs. Such figures underscore heightened trading activity and liquidity in the stock’s derivatives market.
Price Performance and Market Positioning
360 ONE WAM Ltd’s underlying equity price closed at ₹1,168, having opened with a gap-up of 3.56% and touched an intraday high of ₹1,188.5, representing a 7.02% rise from the previous close. The stock has gained for two consecutive sessions, delivering a cumulative return of 6.06% during this period. Notably, it outperformed the Capital Markets sector, which advanced by 3.74%, and the Sensex, which rose 3.06% on the same day. The stock’s weighted average price suggests that a significant volume was traded closer to the lower end of the day’s price range, hinting at strong buying interest at support levels.
From a technical standpoint, 360 ONE WAM Ltd is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signalling a robust upward trend. This alignment of moving averages often attracts momentum traders and institutional investors, reinforcing bullish sentiment. However, delivery volumes have declined by 18.93% against the five-day average, with 7.55 lakh shares delivered on 2 February, suggesting some caution among long-term holders or profit-booking by retail investors.
Sectoral Context and Market Capitalisation
Operating within the Capital Markets industry, 360 ONE WAM Ltd is classified as a mid-cap company with a market capitalisation of ₹47,366.13 crores. The stock’s recent performance has been buoyed by positive sectoral momentum, with the Finance/NBFC sector gaining 3.74% on the day. Despite the sector’s broad-based rally, 360 ONE WAM Ltd’s outperformance by 1.57% relative to its peers highlights its growing appeal among investors seeking exposure to capital markets and asset management themes.
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Interpreting the Open Interest Surge
The 10.45% increase in open interest suggests that new positions are being initiated rather than closed out, which often precedes significant price moves. Given the concurrent price appreciation and volume expansion, it is likely that market participants are positioning for further upside in 360 ONE WAM Ltd. The futures and options data reveal substantial option premium accumulation, which may indicate hedging activity or directional bets on volatility and price movement.
Such a pattern is consistent with institutional investors or large traders increasing their exposure, possibly anticipating favourable developments in the capital markets sector or company-specific catalysts. The stock’s mojo score of 55.0 and a mojo grade of Hold, downgraded from Buy on 22 January 2026, reflect a cautious stance by analysts, balancing the recent momentum against valuation and broader market risks.
Liquidity and Trading Considerations
Liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting transactions up to ₹2.7 crores based on 2% of the five-day average traded value. This level of liquidity is attractive for institutional investors seeking to build or unwind positions without significant market impact. However, the decline in delivery volumes may warrant attention, as it could signal profit-taking or reduced conviction among long-term investors despite the short-term bullishness.
Outlook and Strategic Implications
Investors analysing 360 ONE WAM Ltd should weigh the positive technical signals and rising open interest against the recent downgrade in mojo grade and falling delivery participation. The stock’s outperformance relative to sector and benchmark indices, combined with strong derivatives activity, suggests a potential continuation of the upward trend in the near term. However, cautious monitoring of volume patterns and open interest changes is advisable to detect any early signs of reversal or profit-booking.
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Conclusion
The recent surge in open interest and volume in 360 ONE WAM Ltd’s derivatives market, coupled with strong price gains and sector outperformance, points to increased bullish positioning by market participants. While the mojo grade downgrade signals some caution, the technical and liquidity parameters remain favourable for continued momentum. Investors should remain vigilant to shifts in delivery volumes and open interest trends to optimise entry and exit points in this mid-cap capital markets stock.
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