Surge in Open Interest Signals Shift in Market Dynamics for Supreme Industries
Supreme Industries Ltd has seen a notable rise in open interest, reaching 15,257 contracts, alongside a trading volume of 25,736 contracts, indicating increased activity in the derivatives market. Despite a slight underperformance compared to its sector, the stock remains above key moving averages, suggesting a positive trend.
Supreme Industries Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 15,257 contracts, reflecting a notable rise of 4,023 contracts or 35.81% from the previous open interest of 11,234 contracts. This surge coincides with a trading volume of 25,736 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Supreme Industries has underperformed its sector by 0.38%, with the stock reaching an intraday high of Rs 4,648.4, marking a 2.35% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in the short to medium term. However, it is worth noting that delivery volume has decreased significantly, with a 51.54% drop compared to the 5-day average.
With a market capitalization of Rs 57,854 crore, Supreme Industries continues to maintain a liquid trading environment, suitable for transactions around Rs 2.18 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Supreme Industries, reflecting changing investor sentiment and trading behavior.
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