Tata Elxsi Sees Surge in Open Interest Amidst Declining Stock Performance
Tata Elxsi Ltd. has seen a significant rise in open interest, reaching 44,017 contracts, alongside a trading volume of 31,774 contracts. Despite this increase, the stock has underperformed its sector, experiencing a decline over the past three days and trading below key moving averages.
Tata Elxsi Ltd., a mid-cap player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 44,017 contracts, reflecting a rise of 4,984 contracts or 12.77% from the previous OI of 39,033. This uptick in OI comes alongside a trading volume of 31,774 contracts, indicating heightened activity in the stock.Despite this increase in open interest, Tata Elxsi has underperformed its sector, showing a decline of 3.4% today. The stock has faced consecutive losses over the past three days, with a total drop of 3.58% during this period. Currently, Tata Elxsi is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 54.87k on August 22, which has increased by 63.41% compared to its 5-day average. The total futures value is approximately Rs 87,937.54 lakhs, while the options value is significantly higher at Rs 9,231,174.60 lakhs. Overall, the increase in open interest highlights a shift in market dynamics for Tata Elxsi, amidst a backdrop of declining stock performance.
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