UNOMINDA ENTRY AT CMP 1063. TARGET 1077, SL 1056. (INTRA-DAY TRADE)

UNOMINDA ENTRY AT CMP 1063. TARGET 1077, SL 1056. (INTRA-DAY TRADE)

The stock is trading in an upward trend with a higher high and higher low style. The stock was in a consolidation phase since last few sessions between Rs.1069-1035. Today, it has given an up-move upto 1076 and then dropped to Rs.1058 but it held the support level of Rs.1055 and hence looks attractive with favourable risk-reward with retesting today’s high level of Rs.1077.

Uno Minda Ltd has seen a notable rise in open interest, reaching 7,315 contracts, alongside a trading volume of 4,185 contracts, indicating heightened market activity. Despite a slight decline in price performance, the stock remains above key moving averages, suggesting a strong market position.

Uno Minda Ltd, a prominent player in the Auto Components & Equipment industry, has experienced a significant increase in open interest today. The latest open interest stands at 7,315 contracts, reflecting a rise of 923 contracts or 14.44% from the previous open interest of 6,392. The trading volume for the day reached 4,185 contracts, indicating active participation in the market.

In terms of price performance, Uno Minda has underperformed its sector by 0.92%, with a slight decline of 0.25% in its one-day return. The stock has been on a downward trend for the past two days, accumulating a total loss of 0.57% during this period. Despite this, the stock touched an intraday high of Rs 1,078.7, marking a 2.15% increase at its peak.

Additionally, Uno Minda is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust position in the market. The liquidity remains favorable, with a delivery volume of 315,000 shares on June 23, which is 26.61% higher than the 5-day average. Overall, the notable rise in open interest highlights a shift in market dynamics for Uno Minda, reflecting increased trading activity.