The Outperformers

January 12, 2022

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 the chart to enlarge the view.

In our last post, we looked at Tech Mahindra.

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

Grasim has been showing strength off late and has now made it to the scan as well.

The price has now moved past the resistance at 1,865 and is showing strength for the next leg of the rally. Breaking out of a big base, the price achieved its target in mid-November last year and rolled over. Now we're seeing a recovery in the trend as well as momentum.

As can be seen in the indicator pane at the bottom of the chart, the RSI is in bullish momentum territory. Cement stocks are beginning to pick up the pace again and Grasim looks ready for another positive move.

We are bullish above the risk management level of 1,865 with a target near 2,780.