The Outperformers

April 28, 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 JSW Steel.

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

Over the past two months, we've watched the market consolidate, whereby a new set of sectors have taken the lead. IT has been one such sector that has generated good returns and continues to display strength. Let's pick one such stock from the IT sector.

Wipro has been gaining from strength to strength, while other heavyweights within the same sector have been consolidating for longer. The price has moved past the minor resistance of 450 and seems ready to participate in the extension of this rally.

We're noticing inherent strength developing in this stock as the indicator slides into bullish momentum territory again.

We are bullish above the risk management level of 450 with a target near 586.