The Outperformers

October 7, 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 Mindtree .

Let's take a look at this week's scan selection.

This week we're taking a look at the Energy sector that has gained strength again post the breakout.

Keeping that in mind, we have Tata Power here today, displaying a similar strength. As can be seen from the image below, the price broke out of a massive base of 14 years! With this breakout, the price is now trading above the 2008 highs.

It is important to remember that 2008 is a crucial market peak. A move above this level is a big positive! Energy has only now picked up pace, and if this chart is to go by, Tata Power has a new leg of the market rally to be a part of!

The indicator is strongly positioned in the bullish momentum territory. With all these factors acting as a tail wind, Tata Power could be an important name to track in the weeks and months ahead.

We are bullish above the level of 163, with a target near 246. A move below 163, and all bets are off the table!