Surge in Open Interest for Supreme Industries Signals Increased Market Engagement and Activity
Supreme Industries Ltd has seen a significant rise in open interest, reaching 21,053 contracts, alongside a trading volume of 56,830 contracts. The stock has outperformed its sector and demonstrated a consistent upward trend, trading above multiple moving averages and experiencing a notable increase in delivery volume.
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 21,053 contracts, reflecting a notable rise of 4,756 contracts or 29.18% from the previous open interest of 16,297. This surge in open interest coincides with a trading volume of 56,830 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Supreme Industries has outperformed its sector by 1.27%, with the stock gaining 2.56% today. Over the past three days, the stock has shown a consistent upward trend, accumulating a total return of 9.04%. The stock reached an intraday high of Rs 4,739, marking a 3.99% increase during the trading session.
Additionally, Supreme Industries is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish momentum. The delivery volume has also seen a remarkable increase of 160.9% compared to the 5-day average, further highlighting the stock's liquidity and active trading environment.
In summary, the notable rise in open interest for Supreme Industries reflects increased market engagement, aligning with its recent price performance and overall market position.
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