Open Interest and Volume Dynamics
The latest data reveals that Marico’s futures open interest has expanded by 5,878 contracts, indicating fresh participation or increased exposure by traders. The volume for the day stood at 25,879 contracts, reflecting robust trading activity. The combined futures and options value reached approximately ₹13,426.75 crores, underscoring the stock’s liquidity and investor interest in the derivatives market.
Such a rise in OI alongside strong volume often signals that new positions are being established rather than existing ones being squared off. This can be interpreted as a sign of conviction among market participants regarding the stock’s near-term trajectory.
Price Action and Technical Context
Marico’s underlying price closed at ₹789, just 1.53% shy of its 52-week high of ₹800, demonstrating resilience and strength in the underlying equity. The stock is trading above all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – which is a bullish technical indicator. This alignment of moving averages suggests sustained upward momentum and positive investor sentiment.
Additionally, delivery volumes on 19 Feb rose by 12.38% to 9.22 lakh shares compared to the 5-day average, indicating rising investor participation in the cash market. This increase in delivery volume often reflects genuine buying interest rather than speculative trading.
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Market Positioning and Potential Directional Bets
The surge in open interest, combined with rising volumes and price strength, suggests that traders are positioning for a potential upside in Marico’s stock price. The futures value of ₹1,33,623.72 lakhs and options value exceeding ₹11,175.65 crores highlight the significant capital allocation towards this stock’s derivatives.
Given the stock’s current momentum and proximity to its 52-week high, market participants may be anticipating continued bullishness driven by favourable fundamentals or sectoral tailwinds in edible oils. The sector itself has shown steady performance, with Marico’s 1-day return at 0.90% closely tracking the sector’s 1.14% gain and outperforming the Sensex’s 0.62% rise.
However, the MarketsMOJO Mojo Score for Marico stands at 67.0 with a Hold grade, upgraded from Sell on 9 Dec 2025. This suggests that while the stock shows promise, investors should exercise caution and monitor developments closely. The market cap grade of 2 indicates a mid-cap status, which can entail higher volatility compared to large caps.
Liquidity and Trading Considerations
Marico’s liquidity remains adequate for sizeable trades, with the stock’s traded value supporting a trade size of approximately ₹2.17 crores based on 2% of the 5-day average traded value. This ensures that institutional and retail investors can enter or exit positions without significant price impact, an important factor for derivatives traders.
Moreover, the rising delivery volumes and sustained price above key moving averages reinforce the stock’s attractiveness for medium-term investors seeking exposure to the edible oil sector’s growth prospects.
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Sectoral and Broader Market Context
The edible oil sector has been witnessing steady demand growth, supported by rising consumption and favourable commodity price trends. Marico, as a prominent player, benefits from its diversified product portfolio and strong brand equity. The stock’s recent outperformance relative to the Sensex and sector peers reflects this positive backdrop.
Investors should note that while the derivatives market activity signals bullish positioning, external factors such as raw material price volatility, regulatory changes, and global commodity dynamics could influence near-term price movements.
Outlook and Investor Takeaways
Marico’s recent open interest surge and volume patterns indicate heightened market interest and potential directional bets favouring an upward move. The technical setup, with the stock trading above all major moving averages and near its 52-week high, supports this view.
However, the Hold rating from MarketsMOJO suggests a balanced approach, recommending investors to weigh the stock’s strengths against sector risks and valuation considerations. Monitoring open interest trends and delivery volumes in the coming sessions will be crucial to confirm sustained momentum.
Overall, Marico remains a key stock to watch within the edible oil sector, offering opportunities for investors with a medium-term horizon and a tolerance for mid-cap volatility.
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