Surge in Open Interest Signals Shift in Market Dynamics for Supreme Industries Ltd.
Supreme Industries Ltd has seen a notable rise in open interest, reaching 20,497 contracts, alongside a trading volume of 29,839 contracts. Despite a slight decline in stock price, the increase in open interest suggests heightened market activity and a shift in investor dynamics within the plastic products sector.
Supreme Industries Ltd, a prominent player in the plastic products sector, has experienced a significant increase in open interest today. The latest open interest stands at 20,497 contracts, reflecting a rise of 3,399 contracts or 19.88% from the previous open interest of 17,098. This surge in open interest coincides with a trading volume of 29,839 contracts, indicating active participation in the market.In terms of price performance, Supreme Industries has shown a slight decline of 0.43% today, aligning closely with the sector's performance, which saw a 0.55% drop. The stock reached an intraday high of Rs 3,625.3, marking a 2.82% increase, while it also touched a low of Rs 3,436, down by 2.55%. The weighted average price suggests that more volume was traded near the lower end of the price range.
Despite the recent fluctuations, the stock remains above its 5-day and 20-day moving averages, although it is currently below the 50-day, 100-day, and 200-day moving averages. Notably, delivery volume has decreased by 27.57% compared to the 5-day average, indicating a decline in investor participation. Overall, the increase in open interest highlights a notable shift in market dynamics for Supreme Industries.
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