Surge in Open Interest for Deepak Nitrite Signals Shift in Market Dynamics

Mar 28 2025 01:00 PM IST
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Deepak Nitrite Ltd. has seen a notable rise in open interest, reaching 7,870, alongside a trading volume of 4,753. The stock's total futures and options values are significant, while its recent price performance shows a decline over the past four days, despite an intraday high.
Deepak Nitrite Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 7,870, up from the previous OI of 7,060. This marks a change of 810, reflecting an 11.47% increase. The trading volume for the stock reached 4,753, indicating active market participation. The total futures value stands at Rs 5,644.36 lakhs, while the options value is notably high at Rs 2,379.45 crores, bringing the total value to Rs 6,090.06 lakhs.

In terms of price performance, Deepak Nitrite has underperformed its sector by 0.83%, continuing a downward trend with a 5.28% decline over the past four days. The stock reached an intraday high of Rs 2,048, representing a 2.86% increase during the trading session. While the stock is currently above its 20-day moving average, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has decreased by 23.97% compared to the 5-day average, indicating a decline in investor participation.

In summary, the notable rise in open interest for Deepak Nitrite Ltd. highlights a shift in market dynamics, despite the stock's recent performance challenges.
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