The Outperformers

October 22, 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 Tata Power.

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

With sector rotation in full swing, we're seeing some interesting setups develop in the Financial Services sector.

So in this post, we will highlight a financial services stock.

ICICI Bank has made it to the scan selection this time around. We saw a breakout come through with last week's closing. This breakout has come after the price consolidated at the same level for close to three months. What we're looking at right now is a follow-through of that breakout.

With this move above the 161.8% Fibonacci retracement, we have a new set of levels to track.

We are bullish ICICI Bank above the risk management level of 723 with a target near 1,005.