Oil India Ltd. Sees 12.73% Surge in Open Interest, Reaching 15,447 Contracts
Oil India Ltd. has seen a significant rise in open interest, reaching 15,447 contracts, alongside a trading volume of 12,620 contracts, indicating increased market activity. The stock has shown resilience, trading above key moving averages, although delivery volume has decreased compared to recent averages.
Oil India Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 15,447 contracts, up from the previous 13,703 contracts, marking a change of 1,744 contracts or a 12.73% increase. The trading volume for the day reached 12,620 contracts, indicating robust engagement in the market.In terms of price performance, Oil India has shown resilience, gaining 2.52% over the last two days, with a current intraday high of Rs 449.5, representing a 3.11% increase. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.
Despite this upward movement, there has been a decline in delivery volume, which fell by 37.08% compared to the 5-day average, with a delivery volume of 4.06 lakh shares recorded on November 11. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 1.06 crore, based on 2% of the 5-day average traded value.
In summary, the increase in open interest for Oil India Ltd. highlights a significant shift in trading dynamics, while the stock's performance metrics indicate a stable position within the oil industry.
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