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HAL Share Price: The Finance Minister has approved Hindustan Aeronautics Limited's upgrade to Maharatna CPSE status, granting it increased operational and financial autonomy. This milestone boosts HAL's role in India's industrial growth, reflecting its strong financial performance with a turnover of Rs 28,162 crore and a net profit of Rs 7,595 crore for FY 2023-24.
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In the Nifty500 pack, we have collated a list of five stocks that witnessed a 5-year swing high at the close on October 11, 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 list of stocks, four stocks with a market cap of over Rs 10,000 crore , close prices crossed above their 200 DMA (Daily Moving Averages) on October 11, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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