Surge in Open Interest Signals Increased Trading Activity for Macrotech Developers
Macrotech Developers Ltd has seen a notable rise in open interest, reaching 25,558 contracts, alongside a trading volume of 36,216 contracts today. The stock has outperformed its sector and is trading above key moving averages, despite a significant drop in delivery volume compared to recent averages.
Macrotech Developers Ltd, a prominent player in the realty sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 25,558 contracts, marking a rise of 3,129 contracts or 13.95% from the previous open interest of 22,429. The trading volume for the day reached 36,216 contracts, contributing to a total futures value of approximately Rs 70,568 lakhs.In terms of price performance, Macrotech Developers has outperformed its sector by 2.2%, with the stock gaining 5.4% over the last four days. Today, it reached an intraday high of Rs 1,469.9, reflecting a 4.04% 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 delivery volume has decreased significantly, with a reported delivery volume of 1.93 lakhs on May 23, down by 62.53% compared to the 5-day average. Despite this decline in investor participation, the stock remains liquid enough for trades of Rs 2.83 crore based on 2% of the 5-day average traded value. Overall, the surge in open interest alongside the stock's recent performance highlights a dynamic trading environment for Macrotech Developers.
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