Ramco Cements Sees Significant Open Interest Surge Amid Increased Trading Activity
The Ramco Cements Ltd has seen a notable rise in open interest, reaching 12,641 contracts, alongside a trading volume of 11,705 contracts. The stock has gained 1.25% today and is trading above multiple moving averages, indicating a positive trend reversal after recent declines. Delivery volume has also increased significantly.
The Ramco Cements Ltd, a prominent player in the cement industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 12,641 contracts, reflecting a rise of 1,356 contracts or 12.02% from the previous OI of 11,285. This uptick in OI comes alongside a trading volume of 11,705 contracts, indicating heightened activity in the stock.In terms of price performance, The Ramco Cements has shown resilience, gaining 1.25% today, which is in line with the sector's performance of 1.28%. The stock reached an intraday high of Rs 1,011, marking a 3.51% increase. Notably, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend reversal after two consecutive days of decline.
Additionally, the stock's delivery volume has increased by 6.74% compared to its 5-day average, with a total delivery volume of 264,000 shares. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 0.71 crore, based on 2% of the 5-day average traded value. Overall, the developments surrounding The Ramco Cements reflect a notable shift in market dynamics without indicating future price movements.
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