Surge in Open Interest Signals Increased Trading Activity for Rail Vikas Nigam Ltd
Rail Vikas Nigam Ltd (RVNL) has seen a notable rise in open interest, reaching 4,464 contracts, alongside a trading volume of 4,269 contracts. Despite a decline in delivery volume, the stock remains liquid and is trading above several moving averages, reflecting active market participation.
Rail Vikas Nigam Ltd (RVNL), a prominent player in the construction industry, has experienced a significant increase in open interest today. The latest open interest stands at 4,464 contracts, marking a notable rise of 1,085 contracts or 32.11% from the previous open interest of 3,379. This surge in open interest coincides with a trading volume of 4,269 contracts, indicating active participation in the market.In terms of price performance, Rail Vikas Nigam has shown resilience, gaining 0.73% over the last two days. Currently, the stock is trading inline with its sector, with a 1D return of 0.17%, compared to a sector return of 0.35% and a Sensex return of -0.29%. The stock's price is above its 20-day, 50-day, and 100-day moving averages, although it remains below the 5-day and 200-day moving averages.
Despite a decline in delivery volume, which fell by 35.28% against the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 8.74 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest reflects heightened activity in Rail Vikas Nigam's trading environment, underscoring the stock's current market dynamics.
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