TCS, Pidilite, MCX, EID Parry: 42 stocks that are 10% away from 52-wk highs

Britannia has broken out of the consolidation range of Rs 3,400 to Rs 2,400 levels while Escorts witnesses buying above the resistance level of Rs 900.

With 127 stocks in Nifty500 index trading above the 200-day moving average (DMA), the positive momentum is likely to continue as Nifty50 moves towards 10,000 levels. Of 127 stocks, 15 have shown extreme bullishness hitting a new lifetime high in the recent sessions.

The list includes names such as Deepak Nitrite, which showed reversal at the 50-weekly moving average. Coromandel International has a double bottom formation on the monthly chart, while Dixon Technologies (India) and J B Chemicals and Pharmaceutical exhibited strong buying around 200-DMA.

Stocks that are 5 per cent away from their lifetime high include Britannia Industries, Escorts, Reliance Industries (RIL), Vaibhav Global Ltd, Torrent Power, and Muthoot Finance. Among these, Britannia has broken out of the consolidation range of Rs 3,400 to Rs 2,400 levels. Escorts witnesses buying above the resistance level of Rs 900. RIL has a gap-down range around Rs 1,560, which acts as the resistance level. Muthoot Finance should hold Rs 870 decisively for the next upside.

There are altogether 42 stocks, which are trading 10 per cent away from their respective 52-weeks high. Some of the prominent names are Multi Commodity Exchange of India (MCX), Tata Consumer Products, Tata Consultancy Services (TCS), Pidilite Industries, and EID-Parry (India).