Max Healthcare Sees Surge in Open Interest Amidst Market Activity and Price Decline
Max Healthcare Institute Ltd has seen a notable rise in open interest, reaching 41,420 contracts, alongside a trading volume of 38,109 contracts. Despite this activity, the stock has underperformed its sector and experienced a decline over the past three days, while remaining above its 200-day moving average.
Max Healthcare Institute Ltd (MAXHEALTH) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 41,420 contracts, up from the previous 36,220 contracts, marking a change of 5,200 contracts or a 14.36% increase. The trading volume for the day reached 38,109 contracts, indicating robust participation in the market.In terms of price performance, Max Healthcare has underperformed its sector by 2%, with the stock recording a 1D return of -2.95%. Over the past three days, the stock has seen a consecutive decline, totaling a drop of 5.35%. The intraday low was noted at Rs 1,180.2, reflecting a decrease of 3.37% from the previous close.
Despite these challenges, the stock remains above its 200-day moving average, although it is trading below its 5-day, 20-day, 50-day, and 100-day moving averages. Additionally, liquidity appears sufficient for trades, with a delivery volume of 8.25 lakh shares on August 25, which has decreased by 39.27% compared to the 5-day average.
In summary, the increase in open interest for Max Healthcare Institute highlights a shift in market dynamics, even as the stock faces downward pressure in its recent performance.
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