Ajanta Pharma, Coal India, Graphite India, Jindal Stainless (JSL) and IDBI Bank are the 5 stocks from the Nifty 500 seen trading with a bullish momentum based on the following technical parameters.
A technical scan on the Nifty 500 stocks trading above the higher-end of the Bollinger Bands on the daily chart at current levels on Monday highlights the above-mentioned 5 stocks.
Technically, Bollinger Bands consists of three bands – the upper, lower and middle band. The upper and lower band suggests a likely trading band for the particular stock or index based on the standard deviations (volatility) in recent days. Whereas, the middle band is often the 20-day moving average.
The Bollinger Bands are one of the most commonly used technical indicators that help in measuring market volatility and identifying potential breakouts. The distance between the upper and lower Bands changes as per the volatility – in times of higher volatility the Bollinger Bands expand, and vice versa when the volatility is lower.
In general, stocks trading above the upper Bollinger Band are considered as either overbought or with strong bullish momentum. In case of the latter, other key momentum oscillators like the Relative Strength Index (RSI) and the Moving Average Convergence-Divergence (MACD) need to be favourably placed, and the price action should be backed by higher volume.
Thus, these 5 stocks – Ajanta Pharma, Coal India, Graphite India, Jindal Stainless (JSL) and IDBI Bank – are seen trading above the higher-end of the Bollinger Bands, backed by strong volume in recent days and favourably placed momentum oscillators – RSI, MACD.
Here’s a look at these 5 stock charts:
Ajanta Pharma
Current Market Price: ₹2,964
Ajanta Pharma has rallied over 12 per cent since the stock first broke above the higher-end of the Bollinger Bands on December 24, 2025. The upper band now stands at ₹2,935, shows the daily chart.
Coal India
Current Market Price: ₹426.50
The stock has gained 7.5 per cent in the last two weeks after the stock registered its first strong close above the higher-end of the Bollinger Bands on December 23, 2025. The upper band now stands at ₹421.
Graphite India
Current Market Price: ₹666.50
The stock has rallied nearly 19 per cent post the breakout above the upper band of the Bollinger Band on December 22, 2025. The stock today was seen testing the higher-end at ₹663.
JSL
Current Market Price: ₹864.50
The stock is seen quoting above the higher-end of the Bollinger Bands for the fifth straight trading session backed by strong trading volume on the NSE, shows the daily chart.
IDBI Bank
Current Market Price: ₹112.60
The stock has soared 13 per cent in the last two days on the back of a multi-fold jump in volume. The upper Bollinger Band stands at ₹110.70.
