Supreme Industries Sees 11.85% Surge in Open Interest Amid Increased Trading Activity

Supreme Industries Ltd, a mid-cap player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 21,929 contracts, reflecting a rise of 2,323 contracts or 11.85% from the previous open interest of 19,606. This uptick comes alongside a trading volume of 14,542 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Supreme Industries has underperformed its sector by 1.15%, with the stock falling after three consecutive days of gains. It reached an intraday low of Rs 3,803, marking a decline of 2.84%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Additionally, the delivery volume has decreased significantly, with a reported 64,400 shares delivered on November 12, down 34.43% compared to the 5-day average. The liquidity remains adequate for trades up to Rs 1.33 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Supreme Industries, amidst a backdrop of declining stock performance.