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In the NSE list of stocks with a market cap of over Rs 10,000 crore, we have collated a list of four stocks that witnessed a 5-year swing high at the close on June 21, suggesting bullishness in counters, according to stockedge.com's technical scan data.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock. However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years or longer.
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In the NSE large-cap pack, eight stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on October 3, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
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Benchmark BSE Sensex plunges 1,769 points amid West Asia conflict, hitting a three-week low. Key stocks in focus include Godrej Properties, Angel One, and ITC. Technical analysts suggest Godrej in a no-trade zone, bullish prospects for Angel One, and cautious optimism for ITC.
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News and Media
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