At multi-year highs: These 8 stocks witness 5-year swing high breakout

In the NSE list of stocks with a market cap of over Rs 1000 crore, eight stocks witnessed a 5-year swing high at the close on July 2, 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 842.75 | LTP: Rs 976.2

Last 5-Year High: Rs 229.28 | LTP: Rs 240.74

Last 5-Year High: Rs 156.14 | LTP: Rs 160.95

Last 5-Year High: Rs 164.25 | LTP: Rs 165.79

Last 5-Year High: Rs 750 | LTP: Rs 756.75

Last 5-Year High: Rs 12339 | LTP: Rs 12436

Last 5-Year High: Rs 1112.7 | LTP: Rs 1121

Last 5-Year High: Rs 3251.8 | LTP: Rs 3255.6