Kalyan Jewellers Sees Surge in Open Interest Amid Price Decline and Active Trading

Kalyan Jewellers India Ltd, a prominent player in the Diamond & Gold Jewellery industry, has experienced a notable increase in open interest today. The latest open interest stands at 35,116 contracts, reflecting a rise of 3,778 contracts or 12.06% from the previous open interest of 31,338. The trading volume for the day reached 22,648 contracts, indicating active participation in the market.
In terms of price performance, Kalyan Jewellers has underperformed its sector by 2.33%, with the stock recording a decline of 6.12% over the past two days. The stock touched an intraday low of Rs 434.5, down 3.53% from the previous close. It is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Despite the recent challenges, there has been a rise in delivery volume, which reached 20.91 lakh shares on March 6, up by 5.45% compared to the 5-day average. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 8.44 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amid a declining price trend highlights the current dynamics surrounding Kalyan Jewellers in the market.