Surge in Open Interest Signals Shifting Investor Sentiment for Prestige Estates Projects
Prestige Estates Projects Ltd has seen a notable rise in open interest, reaching 16,589 contracts, alongside a trading volume of 6,301 contracts. The stock achieved an intraday high of Rs 1,660.9, while maintaining strong liquidity, indicating active market participation and shifting investor sentiment in the realty sector.
Prestige Estates Projects Ltd, a prominent player in the realty sector, has experienced a significant increase in open interest today. The latest open interest stands at 16,589 contracts, reflecting a rise of 1,907 contracts or 12.99% from the previous open interest of 14,682. This uptick in open interest comes alongside a trading volume of 6,301 contracts, indicating active participation in the market.In terms of price performance, Prestige Estates Projects reached an intraday high of Rs 1,660.9, marking a gain of 2.11%. The stock's current underlying value is reported at Rs 1,625. Notably, the stock is trading above its 100-day and 200-day moving averages, although it remains below its 5-day, 20-day, and 50-day moving averages.
Despite a slight decline in stock performance, with a 1D return of -0.15%, the liquidity remains robust, allowing for a trade size of Rs 3.04 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Prestige Estates Projects, reflecting changing investor sentiment within the realty sector.
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