Supreme Industries Sees Significant Surge in Open Interest, Indicating Market Dynamics Shift
Supreme Industries Ltd has reported a significant rise in open interest, reaching 15,334 contracts, alongside a trading volume of 8,987 contracts. The stock is currently trading above its 5-day moving averages but below longer-term averages, with a notable decline in investor participation reflected in delivery volume.
Supreme Industries Ltd, a prominent player in the plastic products industry, has experienced a notable increase in open interest today. The latest open interest stands at 15,334 contracts, reflecting a rise of 1,880 contracts or 13.97% from the previous open interest of 13,454. The trading volume for the day reached 8,987 contracts, contributing to a total futures value of approximately Rs 24,491.53 lakhs and an options value of Rs 1,508.63 crores, culminating in a total value of Rs 24,681.73 lakhs.In terms of price performance, Supreme Industries is currently trading 4.36% away from its 52-week low of Rs 3,281. The stock has underperformed its sector by 2.04% today, marking a trend reversal after four consecutive days of gains. The weighted average price indicates that more volume was traded closer to the low price, and while the stock is above its 5-day moving averages, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages.
Investor participation has seen a decline, with delivery volume dropping by 30.23% compared to the 5-day average. Despite these fluctuations, Supreme Industries maintains sufficient liquidity for trades sized at Rs 1.28 crore, reflecting its large-cap market status of Rs 43,567.68 crore. Overall, the increase in open interest highlights a significant shift in market dynamics for Supreme Industries.
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