BSE 500 stocks that hit all-time highs

The Indian stock markets are off their lows and have given gradual upside where the benchmark indices have succeeded in breaching their immediate previous resistances. When the major indices were striving for fresh buying after the short covering at the end of last month, there were few stocks which can be called as defensives which continued upsurge even in cautious market conditions and hit their all-time high levels.

Considering Monday’s trade, from BSE 500 A category stocks, there were 8 stocks which beat their all-time high levels. Amongst, IndusInd Bank is the only benchmark Sensex stock. The stock has surged almost constantly since 1,586 levels and looks exhausted at higher levels and consolidates.

Other two are the FMCG giants, which in itself is a defensive sector. Britannia witnessed a range bound movement until it broke out of the multiple resistance at 4,925-4,950 levels and has been gradually moving up since then. Nestle India is moving up continuously after a trendline breakout near 7900 on March 27.

Of the two auto-based stocks listed on the index, tyre major MRF is back on track after struggling to break 74,000-74,500 levels since June 2017. Escorts on the other hand has been trading with gradual higher tops higher bottoms, notwithstanding doldrums in the sector.

Other three stocks are, Pidilite Industries which has been following its prolonged consolidation followed by a positive rally. SRF, which is in uptrend since March 2014 and the last is India Bulls Ventures, which witnessed its third sharp weekly upside after it gave a trendline or a Pennant pattern breakout on weekly at 285.