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Bullish Surge: Piramal Enterprises, GAIL Among Top 5 Stocks with Strong Open Interest Growth

In Tuesday’s trading session, five stocks showed a significant increase in open interest, suggesting a likelihood of bullish momentum.

When a stock’s price rises along with an increase in open interest, it indicates a buildup of long positions. This signal is more reliable when accompanied by higher trading volume.

Piramal Enterprises saw its stock price rise by 3.62%, with open interest increasing by 0.92%.

Manappuram Finance surged by 3.07%, accompanied by a 4.49% increase in open interest.

GNFC experienced a 2.9% rise in stock price, coupled with a 1.5% increase in open interest.

GAIL’s stock price increased by 2.81%, with open interest rising by 1.9%.

Astral’s stock price gained 2.67%, while open interest saw a notable increase of 3.85%.

Traders should consider additional factors to make informed decisions, such as the stock’s proximity to its 52-week high and any bullish crossovers with moving averages. Additionally, monitoring unusual buildup of long positions in out-of-the-money call options can provide further insights into potential market movements.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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