Jindal Steel Ltd. Sees 19.13% Surge in Open Interest, Reaching 46,330 Contracts
Jindal Steel Ltd. has seen a notable rise in open interest, reaching 46,330, alongside a trading volume of 105,714, indicating increased market activity. The stock is currently trading near its 52-week high and remains above key moving averages, despite a decline in delivery volume.
Jindal Steel Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 46,330, up from the previous figure of 38,891, marking a change of 7,439, or a 19.13% increase. This surge comes alongside a trading volume of 105,714, indicating heightened market engagement.In terms of price performance, Jindal Steel is currently trading at Rs 1,074, just 3.01% away from its 52-week high of Rs 1,097.7. The stock has shown resilience, gaining after two consecutive days of decline. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.
However, there has been a decline in investor participation, with delivery volume dropping by 38.25% compared to the 5-day average. Despite this, the stock remains liquid, with a trade size of Rs 5.49 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest for Jindal Steel Ltd. highlights a shift in market dynamics, warranting attention from market participants.
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