MCX India, BGR Energy and 2 other stocks that witnessed 5-year swing high breakout

In the NSE list of stocks with a market capitalization over Rs 1,000 crore, four stocks witnessed a 5-year swing high at the close on October 14, indicating bullishness in these 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 352.35 | LTP: Rs 369.96

Last 5-Year High: Rs 394.65 | LTP: Rs 410.45

Last 5-Year High: Rs 9115 | LTP: Rs 9397.5

Last 5-Year High: Rs 686.75 | LTP: Rs 690.4