In the NSE large-cap pack, four stocks witnessed a 5-year swing high at the close on January 1, indicating bullishness in the counters, according to technical scan data from stockedge.com.
A 5-year swing high represents the highest price a stock has reached within a five-year timeframe and acts as an important resistance level. While such moves are viewed as bullish, they are distinct from a 5-year breakout, which requires a decisive move beyond long-standing resistance.