Zota Health, Fortis Healthcare, and 2 other stocks witness 5-year swing high breakout

In the NSE list of stocks with a market cap over Rs 1,000 crore, four stocks witnessed a 5-year swing high at the close on August 12, 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 267.8 | LTP: Rs 290.62

Last 5-Year High: Rs 1,305 | LTP: Rs 1,332.5

Last 5-Year High: Rs 663.8 | LTP: Rs 671.35

​Last 5-Year High: Rs 923 | LTP: Rs 931.65