Surge in Open Interest for Supreme Industries Signals Increased Market Activity
Supreme Industries Ltd has seen a notable rise in open interest, reaching 21,311 contracts, alongside a trading volume of 23,386 contracts. Despite a decline in price, the stock remains above several moving averages, indicating active market engagement and ongoing developments within the company amidst fluctuating market conditions.
Supreme Industries Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 21,311 contracts, marking a notable rise of 3,400 contracts or 18.98% from the previous open interest of 17,911. This surge in open interest coincides with a trading volume of 23,386 contracts, reflecting active market engagement.In terms of price performance, Supreme Industries has shown a day’s low of Rs 4,265.9, representing a decline of 4.48%. Despite this drop, 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. Additionally, the stock's delivery volume has decreased by 3.75% compared to the 5-day average, indicating a slight decline in investor participation.
With a market capitalization of Rs 55,927.39 crore, Supreme Industries continues to maintain a solid position within its industry. The increase in open interest suggests a heightened level of trading activity, which may reflect various market dynamics at play. Overall, the developments today highlight the stock's ongoing activity in a fluctuating market environment.
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