The Outperformers

August 25, 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 Tech Mahindra.

And in today's post, we're going to take a look at Tech Mahindra.

Confused? Well, our last target has been achieved since and it is now time to update the levels on this trade.

Among the stocks that are doing well in the current market, Tech Mahindra seems to be leading from the front.

The price has moved past the resistance of 1,365. This, along with a strong move coming through in the IT large caps, bodes well for the stock. Momentum is definitely not lacking so far in this sector. For that matter, we're witnessing leadership in the large caps as well. This adds to the narration of a positive move in TechM.

With the focus now on big names as well as IT, TechM stands out from a risk/reward perspective.

We are positive only as long as the price trades above the risk management level of 1,365. The target we're tracking is 1,990.