Supreme Industries Sees 31.82% Surge in Open Interest Amid Market Dynamics
Supreme Industries Ltd has seen a significant rise in open interest, reaching 22,335 contracts, alongside a trading volume of 49,811 contracts. Despite outperforming its sector slightly, the stock is trading below key moving averages, and its delivery volume has decreased, indicating reduced investor participation.
Supreme Industries Ltd, a mid-cap player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 22,335 contracts, marking a notable rise of 5,392 contracts or 31.82% from the previous OI of 16,943. This surge in OI coincides with a trading volume of 49,811 contracts, indicating heightened activity in the stock.In terms of performance, Supreme Industries has outperformed its sector by 0.38%. However, it 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. The stock's delivery volume on October 29 was recorded at 373,000 shares, reflecting a decline of 27.65% compared to the 5-day average delivery volume, indicating a drop in investor participation.
The total futures value is approximately Rs 65,719.71 lakhs, while the options value is significantly higher at Rs 27,920.13 crores, bringing the total value to around Rs 69,593.98 lakhs. The underlying value of the stock is noted at Rs 3,814.
In summary, the notable increase in open interest for Supreme Industries highlights a shift in market dynamics, although the stock continues to face challenges in terms of moving averages and investor participation.
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