CESC Ltd Sees Surge in Open Interest Amid Mixed Performance Indicators
CESC Ltd has seen a notable rise in open interest, reaching 7,810 contracts, indicating increased trading activity. Despite this, the stock has underperformed compared to its sector and has experienced a trend reversal after five days of gains. It remains above key moving averages, suggesting a positive long-term outlook.
CESC Ltd, a prominent player in the power industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 7,810 contracts, up from the previous 6,937 contracts, marking a change of 873 contracts or a 12.58% increase. The trading volume for the day reached 4,002 contracts, indicating robust participation in the market.Despite this surge in open interest, CESC's stock has underperformed its sector, showing a 1D return of -0.69%, while the sector itself recorded a 1.24% gain. The stock has also seen a trend reversal, having fallen after five consecutive days of gains. However, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend.
In terms of liquidity, CESC is deemed liquid enough for a trade size of Rs 1.27 crore, based on 2% of the 5-day average traded value. The underlying value of the stock is currently at Rs 172. Overall, the notable increase in open interest highlights a shift in market dynamics for CESC Ltd, amidst a backdrop of mixed performance indicators.
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