The Outperformers

March 3, 2021

We debuted a new scan recently- The Outperformers.

The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.

The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.

Here is the list of The Outperformers that we sorted by way of relative strength. These stocks have been selected on the basis of inter-, and intra- sectoral performances. So while these belong to the sectors that are outperforming the market, these stocks are also outperforming their peers within the same sector.

Click on chart to enlarge view.

In our last post, we looked at Hindalco and Tata Motors.

Let's see what's popped up this week.

As metals continue to shine, another name that's attempting to move past its all-time highs is JSW Steel. The price is attempting to break out of a three-year base at the level of 412. Remember this is the same level in 2018 where mid-, and small-caps started correcting. A move beyond this previous high is a strong indication of the inherent strength in the stock.

We are bullish above the level of 412, with a target near 590.

Next up, we have Mindtree from the IT sector. While other names in the same sector have witnessed a correction, Mindtree has been displaying resistance by consolidating and moving back above the support of 1,660. Notice the minor resistance at the stock's all-time high. It is crucial for the price to move past the 1,800 point. We are bullish above this level with a target near 2,260.

On a relative basis too, Mindtree is among the stronger names as evidenced by the scan above.