Phoenix Mills Sees Surge in Open Interest Amid Mixed Trading Signals
Phoenix Mills Ltd. has seen a significant rise in open interest, reaching 10,002 contracts, alongside a trading volume of 8,367 contracts. Despite a recent decline in price performance and reduced investor participation, the stock remains liquid, indicating notable changes in trading activity.
Phoenix Mills Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 10,002 contracts, up from the previous figure of 8,981, marking a change of 1,021 contracts or an increase of 11.37%. The trading volume for the day reached 8,367 contracts, contributing to a futures value of approximately Rs 19,674.46 lakhs.In terms of price performance, Phoenix Mills has underperformed its sector by 1.55%, with a 1D return of -0.43%. This decline comes after a three-day streak of gains, indicating a potential trend reversal. The stock's moving averages show it is currently above the 5-day, 20-day, and 50-day averages, yet below the 100-day and 200-day averages, suggesting mixed signals in its short to medium-term performance.
Additionally, investor participation has seen a decline, with delivery volume dropping by 82.26% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of up to Rs 2.25 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for Phoenix Mills Ltd.
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