BHEL Sees 10.99% Surge in Open Interest Amid Strong Trading Activity
Bharat Heavy Electricals Ltd. (BHEL) has seen a notable rise in open interest, reaching 45,896 contracts, alongside a trading volume of 48,365 contracts. The stock is nearing its 52-week high and has shown strong performance, trading above multiple moving averages, indicating robust market activity and bullish momentum.
Bharat Heavy Electricals Ltd. (BHEL) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 45,896 contracts, up from the previous 41,352, marking a change of 4,544 contracts or a 10.99% increase. The trading volume for the day reached 48,365 contracts, indicating robust participation in the market.In terms of price performance, BHEL is currently trading close to its 52-week high, just 3.5% away from Rs 272.1. The stock has outperformed its sector by 1.3% today and has shown a consistent upward trend, gaining 13.84% over the last five days. Notably, BHEL is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish momentum.
Additionally, the delivery volume on October 30 reached 1.7 crore shares, a remarkable increase of 356.99% compared to the 5-day average. With a market capitalization of Rs 91,515.59 crore, BHEL remains a liquid stock, suitable for trades around Rs 12.03 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and strong trading metrics highlight the current dynamics surrounding Bharat Heavy Electricals Ltd.
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