Surge in Open Interest Signals Increased Trading Activity for Godrej Consumer Products
Godrej Consumer Products Ltd has seen a notable rise in open interest, indicating increased trading activity, with current contracts at 29,906. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined significantly in terms of delivery volume.
Godrej Consumer Products Ltd (GODREJCP) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 29,906 contracts, up from the previous 25,420, marking a change of 4,486 contracts or a 17.65% increase. The trading volume for the day reached 48,002 contracts, indicating robust participation in the market.In terms of price performance, Godrej Consumer has outperformed its sector by 2.82%, with the stock gaining 6.33% over the last two days. Today, it opened with a gain of 2.71% and reached an intraday high of Rs 1,264, reflecting a 5.96% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite this positive momentum, there has been a notable decline in investor participation, with delivery volume dropping by 53.67% compared to the 5-day average. The liquidity remains adequate, allowing for trades up to Rs 1.59 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Godrej Consumer Products.
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