Three Indian stocks hit five-year swing high

Three stocks listed on the NSE have reached important price levels, according to recent data. These stocks, each with a market cap over Rs 10,000 crore, hit a five-year swing high as of March 19. This means they have reached their highest price in five years, which is a positive sign for investors. A five-year swing high often serves as a resistance point. This is where prices have previously struggled to rise further. The current swing high suggests that there could be more upward movement in these stocks. It is essential to understand that a swing high is not the same as a breakout. A breakout happens when a stock’s price exceeds a long-held resistance level. The closing prices and 200-day moving averages for the three stocks are as follows: - Stock 1: 200 DMA at Rs 2,334.8 and LTP at Rs 2,416.45 - Stock 2: 200 DMA at Rs 21,368.35 and LTP at Rs 21,430.05 - Stock 3: 200 DMA at Rs 1,977.9 and LTP at Rs 1,978.6 These figures highlight strong interest in these stocks, reflecting potential confidence among investors.