Supreme Industries Sees 31.82% Surge in Open Interest, Reaching 22,335 Contracts
Supreme Industries Ltd has seen a significant rise in open interest, reaching 22,335 contracts, alongside a trading volume of 49,811 contracts. The total futures and options value amounts to Rs 69,593.98 lakhs. However, the stock remains below key moving averages, indicating ongoing challenges in price performance.
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 22,335 contracts, marking a notable rise of 5,392 contracts or 31.82% from the previous open interest of 16,943 contracts. This surge is accompanied by a trading volume of 49,811 contracts, indicating active market participation.In terms of financial metrics, the total futures value is reported at Rs 65,719.71 lakhs, while the options value is substantially higher at Rs 27,920.13 crore, bringing the total value to Rs 69,593.98 lakhs. The underlying value of the stock is currently at Rs 3,814.
Despite the uptick in open interest, Supreme Industries is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a bearish trend in the short to medium term. Additionally, the stock's delivery volume has decreased by 27.65% compared to its 5-day average, suggesting a decline in investor participation.
In summary, the notable increase in open interest for Supreme Industries highlights a shift in market dynamics, while the stock continues to face challenges in terms of price performance and investor engagement.
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