Open Interest and Volume Dynamics
On 10 Feb 2026, Blue Star’s open interest in futures and options contracts rose sharply by 2,169 contracts, a 14.3% increase from the previous day’s 15,164 contracts to 17,333. This substantial rise in OI was accompanied by a robust volume of 29,877 contracts traded, indicating strong participation in the derivatives market. The futures value stood at ₹21,225.50 lakhs, while the options segment exhibited an impressive notional value of approximately ₹1,729.11 crores, culminating in a total derivatives value of ₹238.38 crores.
This spike in open interest, coupled with elevated volumes, often reflects fresh capital entering the market or existing participants increasing their exposure. In Blue Star’s case, the data suggests that investors are positioning for a directional move, likely bullish given the concurrent price action and technical signals.
Price Performance and Technical Strength
Blue Star has outperformed its sector by 1.21% on the day, registering a 0.72% gain compared to the Electronics & Appliances sector’s decline of 0.40%. The stock has been on a three-day winning streak, delivering a cumulative return of 4.94%. Intraday, it touched a high of ₹1,995.50, up 3.02%, reinforcing the positive momentum.
Technically, Blue Star is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a strong uptrend. This alignment of moving averages often attracts momentum traders and institutional investors, further supporting the bullish narrative.
Investor Participation and Liquidity
Investor interest has surged notably, with delivery volumes on 9 Feb reaching 8.9 lakh shares, a staggering 188.21% increase over the five-day average delivery volume. This rise in delivery volume indicates genuine buying interest rather than speculative trading, as investors are opting to take physical delivery of shares.
Liquidity remains ample, with the stock’s average traded value supporting trade sizes up to ₹3.19 crores based on 2% of the five-day average traded value. Such liquidity ensures that institutional investors can enter or exit positions without significant price impact, enhancing the stock’s attractiveness.
Momentum building strong! This Mid Cap from NBFC is on our MomentumNow radar. Other investors are catching on – will you join?
- - Building momentum strength
- - Investor interest growing
- - Limited time advantage
Market Positioning and Directional Bets
The surge in open interest alongside rising prices and volumes suggests that market participants are increasingly bullish on Blue Star. The derivatives data implies that traders are building long positions, anticipating further upside in the stock price. This is corroborated by the stock’s Mojo Score of 55.0 and an upgraded Mojo Grade from Sell to Hold as of 30 Jan 2026, reflecting improved fundamentals and market sentiment.
Despite the Hold rating, the upgrade from Sell indicates a positive shift in the company’s outlook, possibly driven by better-than-expected earnings, favourable sectoral trends, or strategic initiatives within the Electronics & Appliances industry. The market cap of ₹40,115.45 crores places Blue Star firmly in the mid-cap category, attracting a blend of growth and value investors.
Investors should note that while the open interest increase is a bullish indicator, the Mojo Grade remains cautious, suggesting that the stock may still face volatility or require confirmation from upcoming quarterly results or macroeconomic developments.
Sector and Benchmark Comparison
Blue Star’s outperformance relative to the Electronics & Appliances sector and the Sensex (which gained 0.37% on the same day) highlights its relative strength. The sector has been under pressure recently due to supply chain disruptions and inflationary concerns, but Blue Star’s resilience points to effective management and strong demand for its products.
Investors tracking sectoral rotation may find Blue Star an attractive candidate for portfolio inclusion, especially given its rising investor participation and technical momentum.
Considering Blue Star Ltd.? Wait! SwitchER has found potentially better options in Electronics & Appliances and beyond. Compare this mid-cap with top-rated alternatives now!
- - Better options discovered
- - Electronics & Appliances + beyond scope
- - Top-rated alternatives ready
Outlook and Investor Takeaways
Blue Star Ltd.’s recent surge in open interest and volume, combined with its technical strength and improved Mojo Grade, paints a cautiously optimistic picture for investors. The stock’s ability to maintain gains above key moving averages and the strong delivery volumes suggest that the current rally is supported by genuine investor conviction rather than speculative froth.
However, investors should remain vigilant to broader market conditions and sector-specific risks, including raw material price fluctuations and regulatory changes. The Hold rating implies that while the stock has upside potential, it may not yet be a definitive buy for all investor profiles.
For traders, the derivatives market activity signals an opportunity to capitalise on momentum, but risk management remains paramount given the mid-cap nature of the stock and potential volatility.
In summary, Blue Star Ltd. is demonstrating signs of renewed investor interest and positive market positioning, making it a stock to watch closely in the coming weeks.
Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →
