Surge in Open Interest Signals Increased Activity for UltraTech Cement Stock
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 81,243 contracts, alongside a trading volume of 58,874 contracts. The stock is close to its 52-week high and is trading above several moving averages, despite a significant drop in delivery volume compared to recent averages.
UltraTech Cement Ltd (symbol: ULTRACEMCO) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 81,243 contracts, marking a rise of 7,977 contracts or 10.89% from the previous open interest of 73,266. The trading volume for the day reached 58,874 contracts, contributing to a futures value of approximately Rs 119,927.20 lakhs.In terms of price performance, UltraTech Cement is currently positioned just 2.21% away from its 52-week high of Rs 12,930. The stock has shown resilience, gaining 0.48% over the past two days, aligning with sector performance. It is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is slightly below the 5-day moving average.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 49.96% compared to the 5-day average. The stock remains liquid, with a trade size capacity of Rs 6.37 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for UltraTech Cement, underscoring the stock's current activity without delving into future implications.
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