Surge in Open Interest Signals Shift in Trading Dynamics for Tech Mahindra
In terms of price performance, Tech Mahindra has outperformed its sector by 0.53%. However, the stock has seen a trend reversal after four consecutive days of gains, touching an intraday low of Rs 1,375, which represents a decline of 4.86%. The weighted average price suggests that more volume was traded closer to this low price point.
While the stock remains above its 5-day and 20-day moving averages, it is currently below the 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has decreased by 29.41% compared to the 5-day average, indicating a decline in investor participation. With a market capitalization of Rs 1,39,986 crore, Tech Mahindra continues to maintain a liquid trading environment, suitable for transactions of Rs 10.07 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in trading dynamics for Tech Mahindra.
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