Torrent Power Ltd. Sees 36.32% Surge in Open Interest to 24,294 Contracts
Torrent Power Ltd. has seen a notable rise in open interest, reaching 24,294 contracts, alongside a trading volume of 41,685 contracts, indicating active market engagement. Despite a decline in stock price and delivery volume, the stock remains above its 50-day moving averages, reflecting a dynamic trading environment.
Torrent Power Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 24,294 contracts, up from the previous OI of 17,821 contracts. This marks a notable change of 6,473 contracts, reflecting a percentage increase of 36.32%. The trading volume for the day stands at 41,685 contracts, indicating active participation in the market.In terms of price performance, Torrent Power's stock has underperformed its sector by 3.66%, with a current price of Rs 1,291. The stock reached an intraday low of Rs 1,280.8, representing a decline of 4.19%. Despite this downturn, the stock remains above its 50-day moving averages, although it is trading lower than its 5-day, 20-day, 100-day, and 200-day moving averages.
Additionally, there has been a decrease in delivery volume, which fell by 20.72% compared to the 5-day average, with a total delivery volume of 2.28 lakh shares on November 11. The liquidity remains adequate for a trade size of Rs 1.26 crore, based on 2% of the 5-day average traded value.
Overall, the increase in open interest alongside the stock's recent price movements highlights a dynamic trading environment for Torrent Power Ltd.
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