The Outperformers

December 15, 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 Power Grid Corp.

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

The Industrial Manufacturing sector is a mixed bag with certain stocks performing well in the current market conditions.

Bharat Electronics Limited has been moving sideways for a while post its move above the resistance of 194. Going by the current move, the stock looks like it's getting ready for the next leg of the rally.

On a relative basis, the stock is displaying strength as the price bounces back from the crucial level of 194. The price consolidating above the level of 194 is positive because this would mean that the stock is sustaining above an important Fibonacci extension. This is always a good sign.

The price has respected its long-term support at 194, which was a big base breakout.

We are bullish above the level of 194, with a target close to 278. A move below 194, and we'd prefer to exit the stock.