Supreme Industries is an acknowledged leader of India's plastics industry based in Mumbai, India.

The street has been disappointed with its quarterly results despite the company posting a decent growth in sales and profit. Just after the announcement of the results the stock price went down from Rs 470 down to 393 but since then the stock has regained some of its lost glory. In the recent days the delivery volume indicates that the stock is being accumulated by 'informed' investors. In the past two weeks the average delivery volume has exceeded 90% which informs us something is happening to the stock. Investors may buy the stock at current level keeping a strict stop loss of Rs 385 for a target of Rs 465 or so.

Coming back to the markets, as informed in our earlier newsletters, only when the Nifty closes above 6264 it could have an easy up move. Right now it faces hurdles at every level and crossing the 6150 would only confirm the bulls mood.