Eicher Motors Sees Significant Open Interest Surge Amidst Price Volatility

Eicher Motors Ltd, a prominent player in the Automobile Two & Three Wheelers industry, has experienced a significant increase in open interest today. The latest open interest stands at 29,354 contracts, reflecting a rise of 3,475 contracts or 13.43% from the previous open interest of 25,879. This uptick comes alongside a trading volume of 18,737 contracts, indicating active market participation.
In terms of price performance, Eicher Motors has faced challenges recently, with the stock declining for four consecutive days, resulting in a total drop of 4.15%. Today, the stock reached an intraday low of Rs 5,517.5, marking a decrease of 2.35%. Despite these setbacks, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.

Investor participation has shown signs of decline, with delivery volume falling by 12.93% compared to the 5-day average. Nevertheless, the stock maintains sufficient liquidity for trades, with a market cap of Rs 1,52,640.85 crore. Overall, the notable increase in open interest highlights a shift in market dynamics for Eicher Motors, amidst a backdrop of recent price volatility.