Wipro Ltd. Sees Significant Open Interest Surge Amid Price Decline and Market Activity

Wipro Ltd., a prominent player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest today. The latest open interest stands at 51,191 contracts, reflecting a rise of 4,792 contracts or 10.33% from the previous open interest of 46,399. This uptick in open interest comes alongside a trading volume of 31,836 contracts, indicating active participation in the market.
In terms of price performance, Wipro's stock has been under pressure, having fallen consecutively for the last three days, resulting in a total decline of 4.04% during this period. Today, the stock reached an intraday low of Rs 257.8, representing a decrease of 2.74%. While the stock's performance is currently in line with the sector, which has seen a decline of 2.16%, it remains above its 50-day moving average but below the 5-day, 20-day, 100-day, and 200-day moving averages.

The liquidity of Wipro's stock remains robust, with a delivery volume of 31.26 lakh shares on July 10, although this figure has decreased by 19.55% compared to the 5-day average. Overall, the increase in open interest amid a challenging price environment highlights the ongoing dynamics in Wipro's trading activity.