Inox Wind Sees Significant Open Interest Surge Amidst Challenging Market Conditions

Inox Wind Ltd, a prominent player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 22,563 contracts, marking a notable rise of 4,631 contracts or 25.83% from the previous open interest of 17,932. This surge in open interest coincides with a trading volume of 32,507 contracts, indicating heightened activity in the stock.
Despite this uptick in open interest, Inox Wind's stock performance has underperformed relative to its sector, with a 1D return of -4.61%, compared to a sector return of -0.17%. The stock reached an intraday high of Rs 201, reflecting a gain of 3.08%, while it also touched a low of Rs 185.55, representing a decline of 4.85%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

In terms of moving averages, the stock is currently above the 20-day, 50-day, and 100-day averages but below the 5-day and 200-day averages. Additionally, the stock's liquidity remains robust, with a delivery volume of 99.41 lacs on May 30, which has surged by 201.11% against the 5-day average delivery volume. Overall, the increase in open interest highlights a notable shift in trading dynamics for Inox Wind Ltd, amidst a challenging market environment.