In the NSE list of stocks with a market cap over Rs 1,000 crore, six stocks closed at 5-year swing highs on July 4, indicating bullish momentum in these counters, according to technical scan data from StockEdge.com.
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 point where the price has historically struggled to break through. Hitting this level may signal bullish sentiment and the potential for further upward movement. However, it differs from a 5-year breakout, which occurs when the stock surpasses a well-established resistance that has held for five years or more.
Stocks hitting 5-year swing highs on July 4:
