In the NSE list of stocks with a market capitalisation of over Rs 1,000 crore, six counters hit their 5-year swing highs at the close on October 23, signalling bullish momentum, according to data from StockEdge’s technical scan.
A 5-year swing high marks the highest price a stock has reached within a five-year period. This level often acts as a key resistance zone where prices have previously struggled to break through. Reaching this point is typically viewed as a bullish signal, suggesting potential for further upside. However, it differs from a 5-year breakout, which occurs when the stock decisively surpasses that resistance level.
Stocks hitting 5-year swing highs: