Surge in Open Interest for Torrent Power Indicates Increased Market Activity Amid Price Decline
In terms of price performance, Torrent Power has been under pressure, having recorded a decline of 2.31% over the past two days. Today, the stock reached an intraday high of Rs 1,471.7, marking a 3.33% increase at its peak. However, it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.
Additionally, the stock's delivery volume has decreased by 14.1% compared to the 5-day average, indicating a drop in investor participation. Despite these challenges, the liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 1.63 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst a declining price trend highlights a complex market scenario for Torrent Power.
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