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BSE NSE New High and Low Stock Prices, Stock Market Price Analysis

In stock market price analysis why are new highs and new lows important? For one, they give you an idea of the momentum of a stock. For example if a stock is able to hit new highs despite the markets being tepid, it is a clear indication of the inherent strength in the stock. Similarly, if the stock is touching new lows even when the market is buoyant, it is a clear indication of the stock showing larger problems and a distinct fundamental weakness. The news highs and new lows normally act as break out indications for the stock. If you take a considerably longer period like 1 year or 3 years then the stock requires a real effort to break the high. If the stock is able to break the old high with volumes then it is clear indication of a breakout. Once the new high break out is seen, then one can ratify the same with technicals. Similar argument can also be applied in the event of new lows.

BSE New High and low stock prices – The LKP Securities analysis…

The dedicated page on LKP website for highlighting the new highs and new lows has a variety of filters. Let us first understand why these multiple filters are important from stock market price analysis…

  • Firstly, we have the exchange level filters which will classify the new highs and new lows based on the exchange of listing. Normally, the new highs and new lows are seen more frequently on the BSE where there are a lot more listed stocks. In fact, the number of fresh stocks hitting new highs or new lows on the BSE is a very good indication of the strength of the market.
  • Secondly, there is the filter of new highs and new lows based on the time period considered. There are 1-week highs, 1-month highs and 1-year highs. Short period highs/lows can at best depict short term trends and may not be too indicative of breakouts. For breakouts, longer term high/lows are more relevant.
  • Thirdly, and more importantly, there are sectoral and thematic breakouts. By studying the concentration of new highs or new lows in particular sectors / themes, one can decipher if there is some underlying trend in specific sectors. Normally, it is seen that these new highs / new lows at a sectoral level can be a lead indicator of a larger trend to come.

How to apply the new high / new low data?

Remember, strength is associated with new highs and never with new lows. Hence new lows may turn out to be value traps more often than not. You need to factor that into your calculations. Also do not focus too much on short term trends and wait for affirmation from longer term trends. New high / new low analytics can be a starting point and not exactly a decision point. You can use these leads to drill down deeper into specific stories. That is the way to approach this data!

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