At multi-year highs: These 6 stocks witness 5-year swing high breakout

In the NSE list of stocks with a market cap over Rs 1000 crore, six stocks witnessed a 5-year swing high at the close on July 7, 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 768.5 | LTP: Rs 821.6

Last 5-Year High: Rs 1210.25 | LTP: Rs 1289.75

Last 5-Year High: Rs 267.55 | LTP: Rs 279.06

Last 5-Year High: Rs 168.2 | LTP: Rs 170.61

Last 5-Year High: Rs 1843.3 | LTP: Rs 1860.1

Last 5-Year High: Rs 7600.5 | LTP: Rs 7616