Chambal Fertilisers Sees Surge in Open Interest Amid Market Challenges
Chambal Fertilisers & Chemicals Ltd has seen a notable rise in open interest, reaching 24,542 contracts, alongside a trading volume of 24,439 contracts. Despite underperforming its sector and experiencing a decline in stock price, the company maintains adequate liquidity for trading activities.
Chambal Fertilisers & Chemicals Ltd (CHAMBLFERT) has experienced a significant increase in open interest today, marking a notable shift in trading activity. The latest open interest stands at 24,542 contracts, up from the previous 16,837 contracts, reflecting a change of 7,705 contracts or 45.76%. This surge in open interest coincides with a trading volume of 24,439 contracts, indicating heightened market engagement.In terms of price performance, Chambal Fertilisers underperformed its sector by 3.67%, with the stock reaching an intraday low of Rs 551.35, representing a decline of 5.9%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock remains above its 200-day moving average, it is currently below the 5-day, 20-day, 50-day, and 100-day moving averages.
The fertilizer sector overall has seen a decline of 2.07%, and investor participation appears to be waning, with delivery volume dropping by 36.14% compared to the 5-day average. Despite these challenges, the stock maintains sufficient liquidity for trades up to Rs 3.42 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest for Chambal Fertilisers highlights a shift in trading dynamics amid a challenging market environment.
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