Surge in Open Interest Signals Shift in Market Dynamics for Macrotech Developers
Macrotech Developers Ltd has seen a notable rise in open interest, reaching 22,642 contracts, alongside a trading volume of 16,020 contracts. The stock has outperformed its sector and is trading above key moving averages, although investor participation has decreased significantly in terms of delivery volume.
Macrotech Developers Ltd (symbol: LODHA), a prominent player in the construction and real estate sector, has experienced a significant increase in open interest today. The latest open interest stands at 22,642 contracts, reflecting a rise of 2,602 contracts or 12.98% from the previous open interest of 20,040. The trading volume for the day reached 16,020 contracts, contributing to a total futures value of approximately Rs 29,630.81 lakhs.In terms of price performance, Macrotech Developers has outperformed its sector by 0.8%, with the stock gaining 6.97% over the past two days. Today, it reached an intraday high of Rs 1,339.90, marking a 3.6% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is noteworthy that investor participation has declined, with delivery volume dropping by 63.24% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 3.57 crore, based on 2% of the 5-day average traded value. Overall, the surge in open interest highlights a notable shift in market dynamics for Macrotech Developers.
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