In the Nifty50 pack, four stocks witnessed a 5-year swing high at the close on January 2, indicating bullishness in the counters, according to technical scan data from StockEdge.
A 5-year swing high marks the highest price a stock has reached over the past five years and serves as an important resistance level. While such moves are viewed as bullish, they differ from a 5-year breakout, which requires a decisive move beyond long-standing resistance.