Cholamandalam Investment Sees Surge in Open Interest Amid Price Decline
Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) has seen a significant rise in open interest, reaching 30,689 contracts, alongside a trading volume of 34,103 contracts. Despite recent price declines, the stock remains above its long-term moving averages, indicating active market engagement amid evolving dynamics.
Cholamandalam Investment & Finance Company Ltd (CHOLAFIN), a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 30,689 contracts, marking a notable rise of 7,226 contracts or 30.8% from the previous open interest of 23,463. The trading volume for the day reached 34,103 contracts, reflecting active market participation.In terms of price performance, Cholamandalam has underperformed its sector, with a decline of 4.22% today. The stock has been on a downward trend, losing 10.01% over the past six days. It touched an intraday low of Rs 1,497.2, down 4.41% from the previous close. The weighted average price indicates that more volume was traded closer to this low price.
Despite the recent challenges, the stock remains above its 100-day and 200-day moving averages, although it is currently below its 5-day, 20-day, and 50-day moving averages. The liquidity remains adequate for trading, with a delivery volume of 4.6 lakh shares, although this represents a decline of 43.23% compared to the 5-day average. Overall, the increase in open interest amidst a challenging price environment highlights the evolving dynamics surrounding Cholamandalam Investment & Finance Company.
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