Simple: They keep surprising by making new highs. And that's why market participants keep buying them on every dip.
Here's a classic example:
BPCL stock broke out to NEW HIGH in 2014, along with Nifty. It was a leadership stock and just watch what BPCL has done since then.
Fundamentals were already in place
If $63-64 is long term resistance for Brent, then HPCL and BPCL has much more upside in coming weeks and months.
— Deepak Singh (@smarket) April 22, 2015
Price Action followed
Just see what stock has done right now - another fresh high
Do you want to Learn Science of Stock Price Action with more Live case studies covering Indian and Global stocks - www.smarketpremium.com
— Deepak Singh (@smarket) January 27, 2017
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers