Ashok Leyland Sees Significant Surge in Open Interest Amid Increased Trading Activity
Ashok Leyland Ltd. has seen a notable increase in open interest, reaching 33,995, alongside a trading volume of 53,235. The stock has gained 1.52% over two days, currently trading above several moving averages, despite a decline in delivery volume. This indicates heightened market activity and changing dynamics.
Ashok Leyland Ltd., a prominent player in the mid-cap automobile sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 33,995, reflecting a rise of 5,964 from the previous OI of 28,031, marking a percentage change of 21.28%. This uptick in OI coincides with a trading volume of 53,235, indicating heightened activity in the stock.In terms of price performance, Ashok Leyland has shown resilience, gaining 1.52% over the past two days, with a current stock price reaching an intraday high of Rs 124, which represents a 3.57% increase. The stock is currently trading above its 5-day, 100-day, and 200-day moving averages, although it remains below its 20-day and 50-day moving averages.
Despite a decline in delivery volume, which has fallen by 46.88% compared to the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 2.17 crore, based on 2% of the 5-day average traded value. Overall, the notable rise in open interest for Ashok Leyland underscores a shift in market dynamics, reflecting the stock's current trading landscape.
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