Surge in Open Interest Signals Increased Market Activity for Solar Industries India Ltd
Solar Industries India Ltd has seen a substantial rise in open interest, reaching 34,723, alongside a trading volume of 127,162. The stock achieved a new all-time high of Rs 16,050, demonstrating strong bullish momentum, despite a decline in investor participation and delivery volume.
Solar Industries India Ltd (symbol: SOLARINDS) has experienced a significant increase in open interest today, with the latest open interest reported at 34,723, up from the previous 27,318. This marks a change of 7,405, or 27.11%. The trading volume for the day stands at 127,162, indicating robust activity in the market.In terms of price performance, Solar Industries reached a new 52-week and all-time high of Rs 16,050, reflecting a 4.67% increase during the trading session. The stock has outperformed its sector by 1.86% and has shown a consistent upward trend, gaining 17.41% over the past four days. Currently, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish momentum.
Despite this positive performance, there has been a noted decline in investor participation, with delivery volume dropping by 30.41% compared to the 5-day average. The liquidity remains adequate, with a trade size of Rs 6.47 crore based on 2% of the 5-day average traded value.
In summary, Solar Industries India Ltd is witnessing notable activity in open interest and price performance, reflecting its strong position in the Other Chemical products industry.
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