Surge in Open Interest Signals Shift in Market Dynamics for Supreme Industries
Supreme Industries Ltd has seen a notable rise in open interest, reaching 16,265 contracts, alongside a trading volume of 11,507 contracts, indicating increased activity in the derivatives market. The stock closed 4.2% above its 52-week low, with a decline in delivery volume compared to recent averages.
Supreme Industries Ltd, a prominent player in the plastic products sector, has experienced a significant increase in open interest today. The latest open interest stands at 16,265 contracts, reflecting a rise of 2,811 contracts or 20.89% from the previous open interest of 13,454. This surge in open interest comes alongside a trading volume of 11,507 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Supreme Industries closed the day 4.2% away from its 52-week low of Rs 3,281, having touched an intraday low of Rs 3,401, which represents a decline of 2.65%. The stock has underperformed its sector by 2%, marking a trend reversal after four consecutive days of gains. The weighted average price suggests that more volume was traded closer to the low price of the day.
Additionally, the stock's delivery volume has seen a decline of 30.23% compared to the five-day average, indicating a drop in investor participation. Despite this, the liquidity remains adequate for trades sized at Rs 1.28 crore, based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Supreme Industries, reflecting current trading conditions without making future predictions.
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