Jindal Steel Ltd. Sees 19.13% Surge in Open Interest, Reaching 46,330 Contracts
Jindal Steel Ltd., a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 46,330 contracts, marking a notable rise of 7,439 contracts or 19.13% from the previous open interest of 38,891. This surge coincides with a trading volume of 105,714 contracts, indicating robust market engagement.In terms of price performance, Jindal Steel is currently trading close to its 52-week high, just 2.6% away from 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 strong upward trend in its price trajectory.
However, it's worth noting a decline in investor participation, with delivery volume dropping by 38.25% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of approximately Rs 5.49 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest for Jindal Steel highlights a dynamic trading environment, reflecting the stock's current market position.
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