Surge in Open Interest Signals Increased Trading Activity for IREDA Stock
Indian Renewable Energy Development Agency Ltd (IREDA) has seen a significant rise in open interest, reaching 18,975 contracts, alongside a trading volume of 10,179 contracts. The stock is priced at Rs 170, showing mixed performance relative to its moving averages and a notable decline in delivery volume.
Indian Renewable Energy Development Agency Ltd (IREDA) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 18,975 contracts, up from the previous 16,995 contracts, marking a change of 1,980 contracts or an 11.65% increase. The trading volume for the day reached 10,179 contracts, contributing to a futures value of approximately Rs 21,319.17 lakhs.In terms of price performance, IREDA's stock is currently valued at Rs 170. The stock's performance today aligns closely with its sector, showing a slight decline of 0.02%, while the sector overall decreased by 0.31%. Notably, the stock is trading higher than its 5-day and 100-day moving averages, although it remains below its 20-day, 50-day, and 200-day moving averages.
Despite a significant drop in delivery volume, which fell by 68.98% compared to the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 4.55 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest indicates a shift in market dynamics for IREDA, warranting attention from market participants.
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