Open Interest and Volume Dynamics
On 22 January 2026, Shriram Finance's open interest in derivatives rose sharply by 21.51%, increasing from 88,562 contracts to 107,615 contracts. This represents an addition of 19,053 contracts, a substantial increase that indicates fresh positions being established in the futures and options market. The volume for the day stood at 172,969 contracts, reflecting heightened trading activity compared to recent averages.
The futures segment alone accounted for a value of approximately ₹3,75,608 lakhs, while the options segment's notional value was significantly higher at ₹1,07,955.96 crores. The combined derivatives turnover reached ₹3,92,281 lakhs, underscoring the stock's liquidity and attractiveness to market participants.
Price and Technical Context
Shriram Finance closed the day at ₹1,004, just 2.4% shy of its 52-week high of ₹1,025.60. The stock outperformed its NBFC sector peers by 1.01% on the day, while the sector itself declined by 1.46% and the Sensex fell 0.77%. This relative strength is further supported by the stock trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a sustained uptrend.
Investor participation has also been on the rise, with delivery volumes reaching 47.91 lakh shares on 22 January, marking a 12.17% increase over the five-day average delivery volume. This suggests that long-term investors are accumulating shares, reinforcing the bullish technical setup.
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Market Positioning and Directional Bets
The sharp increase in open interest, coupled with rising volumes, suggests that traders are positioning for a potential upward move in Shriram Finance’s stock price. The futures market activity indicates fresh long positions being built, while options data points to increased call option buying, a classic sign of bullish sentiment.
Given the stock’s proximity to its 52-week high and its outperformance relative to the NBFC sector, market participants appear confident in the company’s near-term prospects. The underlying value of ₹1,004 supports this view, as it remains well above key moving averages, providing technical support for further gains.
However, the slight day change of -0.06% indicates some profit booking or consolidation at current levels, which is typical after a strong run-up. Investors should watch for sustained volume and OI growth to confirm the continuation of the bullish trend.
Fundamental and Market Cap Insights
Shriram Finance is classified as a Large Cap company with a market capitalisation of ₹1,89,381.21 crores, reflecting its significant presence in the NBFC sector. The company’s Mojo Score stands at 72.0, with a recent upgrade from Hold to Buy on 15 December 2025, signalling improved fundamentals and positive outlook from MarketsMOJO analysts.
The Market Cap Grade of 1 further underscores the stock’s strong market standing and liquidity, making it a preferred choice for institutional and retail investors seeking exposure to the NBFC space.
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Implications for Investors
The surge in open interest and volume in Shriram Finance’s derivatives market is a clear indicator of increased investor interest and confidence. For traders, this presents opportunities to capitalise on the momentum, especially given the stock’s technical strength and sector outperformance.
Long-term investors may view the rising delivery volumes and upgraded Mojo Grade as validation of the company’s growth prospects and financial health. However, caution is warranted as the stock approaches its 52-week high, where profit-taking and volatility can increase.
Monitoring the evolution of open interest alongside price action will be crucial in assessing whether the current bullish positioning sustains or if a correction is imminent. Investors should also consider broader sectoral trends and macroeconomic factors impacting NBFCs before making allocation decisions.
Conclusion
Shriram Finance Ltd’s recent open interest surge in derivatives, combined with strong volume and technical indicators, points to a bullish market stance. The stock’s proximity to its 52-week high and outperformance relative to the NBFC sector reinforce positive sentiment. With a solid market cap and upgraded Mojo Grade, Shriram Finance remains an attractive proposition for investors seeking exposure to the NBFC space, provided they remain vigilant to market dynamics and potential volatility near resistance levels.
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