Surge in Open Interest for Cummins India Signals Increased Trading Activity Amid Price Declines
In terms of price performance, Cummins India opened the day with a loss of 4.09%, reaching an intraday low of Rs 2,711, which represents a decline of 7.8%. The stock has underperformed its sector, with a 1D return of -5.35%, compared to the Diesel Engines sector's decline of 4.33%. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging short-term trend.
Despite these challenges, there has been a rise in delivery volume, which increased by 39.45% against the 5-day average, indicating a shift in trading dynamics. Overall, the notable spurt in open interest for Cummins India highlights a period of increased trading activity amidst a backdrop of price declines.
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