Godrej Properties Sees Sharp Open Interest Surge Amid Bearish Momentum

Open Interest and Volume Dynamics

On 22 January 2026, Godrej Properties (NSE: GODREJPROP) recorded an open interest (OI) of 98,221 contracts in its derivatives segment, marking an 18.31% increase from the previous day’s 83,021 contracts. This rise of 15,200 contracts is notable given the backdrop of a declining stock price, which closed near its 52-week low at ₹1,603, down 2.52% intraday and underperforming the Realty sector by 1.11%.

Volume data corroborates this heightened activity, with futures volume reaching 73,402 contracts. The futures value traded stood at approximately ₹1,15,631 lakhs, while options turnover was substantially higher at ₹22,569 crores, reflecting intense speculative interest. The combined derivatives turnover was ₹1,18,889 lakhs, underscoring the stock’s liquidity and active participation among traders.

The weighted average price of traded contracts skewed towards the day’s low, indicating that the bulk of trading occurred near the lower price range, a bearish signal suggesting that sellers dominated the session.

Technical and Price Performance Overview

Godrej Properties has been on a downward trajectory for four consecutive sessions, shedding 14.35% over this period. The stock is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a strong bearish trend. The recent spike in delivery volume to 13.62 lakh shares on 21 January, a 118.98% increase over the five-day average, indicates rising investor participation, albeit on the sell side given the price action.

Liquidity remains robust, with the stock capable of handling trade sizes up to ₹6.28 crore based on 2% of the five-day average traded value, making it attractive for institutional and retail traders alike.

Market Positioning and Sentiment Analysis

The surge in open interest amid falling prices typically suggests that new short positions are being initiated or existing shorts are being added to, reflecting bearish market sentiment. The increase in futures volume alongside rising OI supports this interpretation, as traders appear to be positioning for further downside.

Godrej Properties’ Mojo Score currently stands at 3.0, with a Strong Sell grade upgraded from Sell on 3 November 2025, reflecting deteriorating fundamentals and technical outlook. The market cap grade is 2, indicating mid-cap status with moderate liquidity and volatility characteristics.

Comparatively, the Realty sector has been relatively stable, with a 1-day return of -0.10%, while the Sensex gained 0.48% on the same day, highlighting the stock’s underperformance within its sector and the broader market.

Implications for Investors and Traders

The combination of a fresh 52-week low, sustained volume and open interest expansion, and negative price momentum suggests that market participants are increasingly bearish on Godrej Properties. This environment may attract short sellers and traders seeking to capitalise on further declines.

However, the rising delivery volumes indicate that some investors are still actively participating in the stock, possibly accumulating at lower levels or engaging in hedging strategies. This mixed behaviour warrants cautious monitoring of subsequent sessions for confirmation of trend continuation or potential reversal.

Given the current technical and derivatives market signals, investors should exercise prudence and consider risk management strategies when dealing with Godrej Properties shares or derivatives.

Outlook and Conclusion

Godrej Properties Ltd’s recent derivatives activity reveals a clear shift in market positioning towards bearish bets, as evidenced by the 18.31% jump in open interest and heavy volume near the day’s lows. The stock’s technical indicators remain weak, with prices below all major moving averages and a consistent downtrend over the past four sessions.

While the increased delivery volumes suggest some investor interest at these levels, the overall sentiment remains negative, supported by the Strong Sell Mojo Grade and underperformance relative to the Realty sector and broader market indices.

Investors and traders should closely monitor open interest trends and price action in the coming days to gauge whether the bearish momentum sustains or if a reversal emerges. Until then, cautious positioning and risk management remain paramount for those exposed to Godrej Properties.

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