BSE 100 stocks that hit all-time high

Following the benchmark indices, S&P BSE 100 index too tumbled to close down by 0.6 per cent. However, three stocks listed on BSE 100 category hit 52-week high levels including Bajaj Finserv, Bajaj Finance and Page Industries. The index opened on a positive note, traded up for the first half an hour, but tumbled gradually thereafter to close in the red zone.

Bajaj Finserv, the holding company of Bajaj Finance, hit 52-week or all-time high for the second trading day in a row on Monday at 6,290. However, the stock could not sustain due to weak market conditions and closed marginally down at 0.2 per cent. The stock has created a reversal Doji at peak levels and if conformed in the next session, would correct in the coming sessions. However, reasonable volumes and 14-period RSI quoting at 65 suggests some more upside after this breather.

Bajaj Finance too hit all-time high level but sustained near the peaks and gained 2.3 per cent by the end of the day. The stock had given a resistance breakout near 1,975 levels and thereafter it has been trading with a positive rally followed by consolidation. Hence after 7 days of consolidation, this is the second day that the stock is surging up and may continue with the rally for some more time.

Meanwhile, the expensive stock of Page Industries had given horizontal trendline breakout at 25,300 levels and has surged to hit a all-time high at almost 28,600. The stock gained 4.6 per cent in Monday’s trade. Though 14-period RSI is trading in the over-bought zone, the stock has not yet given any reversal.