Supreme Industries Sees 31.82% Surge in Open Interest to 22,335 Contracts
Supreme Industries Ltd has seen a notable rise in open interest, reaching 22,335 contracts, a 31.82% increase from the previous figure. This surge coincides with a trading volume of 49,811 contracts, indicating increased activity in the derivatives market, despite the stock trading below key moving averages.
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. This surge in open interest comes alongside a trading volume of 49,811 contracts, indicating heightened activity in the derivatives market.In terms of performance, Supreme Industries has outperformed its sector by 0.6%, with a one-day return of 0.45%. However, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a potential trend of declining momentum. Additionally, the delivery volume has seen a significant drop of 43.97% compared to the 5-day average, with a total delivery volume of 3.3 lakh shares recorded on October 30.
The liquidity of the stock remains adequate, with a trading capacity of Rs 7.72 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest reflects a shift in market dynamics for Supreme Industries, warranting attention from market participants.
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