At multi-year highs: These 3 stocks witness 5-year swing high breakout

In the Nifty200 pack, we have collated a list of three stocks that witnessed a 5-year swing high at the close on April 16, 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.



Last 5-Year High: Rs 5575.5 | LTP: Rs 5615.5 Last 5-Year High: Rs 1992.

2 | LTP: Rs 2000.8 Last 5-Year High: Rs 1820 | LTP: Rs 1822.6.