Surge in Open Interest Signals Increased Activity for Kalyan Jewellers Amid Price Decline

Kalyan Jewellers India Ltd, a prominent player in the Gems, Jewellery and Watches industry, has experienced a notable increase in open interest today. The latest open interest stands at 57,399 contracts, reflecting a rise of 5,603 contracts or 10.82% from the previous open interest of 51,796. This surge comes alongside a trading volume of 34,150 contracts, indicating active participation in the derivatives market.
In terms of price performance, Kalyan Jewellers has underperformed its sector by 3.18%, with the stock recording a 1-day return of -3.03%. Over the past two days, the stock has seen a consecutive decline, totaling a drop of 5.47%. The stock reached an intraday low of Rs 503.8, down 3.15% from the previous close. Notably, Kalyan Jewellers is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.

Despite a decline in delivery volume, which has fallen by 26.69% against the 5-day average, the stock remains liquid enough for trades sized at Rs 9.72 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst a challenging price environment highlights the current dynamics surrounding Kalyan Jewellers.