These 33 stocks on Nifty500 index have hit record highs; more gains likely

Stocks hitting a 52-week high or new all-time high early in the year tend to have more legs for an upside for the rest of the year.

Whenever any stock conquers major price levels, the robust momentum is ascertained to have gained maximum strength from market participants point of view. This scenario depicts a further price push in the same direction with a significant addition in volumes.

The broad major levels are 52-week high or all-time high. And whenever stock claims new levels, they are looked as a strong candidate for further upside. Likewise, stocks hitting a fresh 52-week low or all-time low are viewed to be towards further decline.



Currently, the year 2022 has started with sparkling responses as 33 stocks have claimed fresh 52-weeks high, in just seven trading sessions so far. Few of the prominent stocks, among these are - Adani Green Energy Ltd, Elgi Equipments Ltd, Affle (India) Ltd, Greaves Cotton Ltd, Asian Paints Ltd , RHI Magnesita india Ltd and SRF Ltd - all hitting new all-time highs.

Traders and investors consider these stocks as breakout stocks and are ready to enter fresh trades from a short to medium term prespective. One can expect a positive upside that could range from 10-15 per cent on an immediate basis with overall structure predicting bigger bullish sentiment.

Here is the list of stocks showing such breakouts: -

Source: spidersoftware