Patanjali Foods Sees Surge in Open Interest Amid Increased Trading Activity
Patanjali Foods Ltd has seen a notable rise in open interest, reaching 11,904 contracts, alongside a trading volume of 12,762 contracts, indicating increased market activity. The stock has outperformed its sector and is trading above key moving averages, reflecting a strong upward trend in its price.
Patanjali Foods Ltd, a prominent player in the FMCG sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 11,904 contracts, up from the previous 9,769 contracts, marking a change of 2,135 contracts or a 21.85% increase. The trading volume for the day reached 12,762 contracts, indicating robust market engagement.In terms of price performance, Patanjali Foods has outperformed its sector by 3.25%, with the stock gaining 4.03% over the last two days. Today, it reached an intraday high of Rs 1,885, reflecting a 3.31% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
Additionally, the delivery volume recorded on April 2 was 317,000 shares, which is a slight increase of 0.12% compared to the 5-day average delivery volume. With a market capitalization of Rs 67,841.28 crore, Patanjali Foods remains a liquid stock, suitable for trades of up to Rs 2.5 crore based on its average traded value. Overall, the notable rise in open interest and positive price movements underscore the stock's current market dynamics.
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