Patanjali Foods Sees Surge in Open Interest Amidst Market Activity Shift

Patanjali Foods Ltd, a prominent player in the edible oil industry, has experienced a significant increase in open interest today. The latest open interest stands at 27,801 contracts, marking a rise of 3,006 contracts or 12.12% from the previous open interest of 24,795. This uptick in open interest coincides with a trading volume of 10,182 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Patanjali Foods has underperformed its sector by 2.12%, with the stock experiencing a decline after four consecutive days of gains. The stock reached an intraday low of Rs 1,691.2, reflecting a drop of 3.75%. Currently, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Despite the recent price decline, there has been a notable increase in delivery volume, which rose by 32.98% compared to the 5-day average, reaching 414,000 shares. The liquidity of Patanjali Foods remains robust, with a trade size of Rs 2.23 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Patanjali Foods, reflecting evolving investor sentiment.