Surge in Open Interest Signals Increased Activity for Solar Industries India Ltd
Solar Industries India Ltd has seen a notable rise in open interest, reaching 26,616 contracts, alongside a trading volume of 32,106 contracts. The stock achieved a new all-time high of Rs. 15,280 and demonstrated increased delivery volume, reflecting heightened market activity and strong liquidity.
Solar Industries India Ltd, a prominent player in the Other Chemical products sector, has experienced a significant increase in open interest today. The latest open interest stands at 26,616 contracts, reflecting a rise of 3,992 contracts or 17.64% from the previous open interest of 22,624. This surge in open interest coincides with a trading volume of 32,106 contracts, indicating heightened activity in the stock.In terms of price performance, Solar Industries reached a new 52-week and all-time high of Rs. 15,280 today, outperforming its sector by 0.97%. Despite this achievement, the stock has shown a trend reversal, having fallen after two consecutive days of gains. Notably, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in the short to medium term.
Additionally, the stock has seen a notable increase in delivery volume, with 1.79 lakh shares delivered on May 22, marking a 33.56% rise against the 5-day average delivery volume. With a market capitalization of Rs 1,36,712.38 crore, Solar Industries remains a liquid stock, suitable for trades of up to Rs 4.16 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and robust trading metrics highlight the stock's active market presence.
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