The Outperformers

February 9, 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 chart to enlarge view.

In our last post, we looked at State Bank Of India.

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

Cholamandalam Investment and Finance has made it through our scan this week. The price is now making a new all-time high and has been displaying strength in this segment. The Financial Services sector as a whole is yet to make an impact, but we're seeing certain names pop up like this one.

The price is moving out of a minor base formation that has been in place since last quarter. We saw the price breakout above its resistance of 667 and close at the day high. This is a strong bullish move when the price closes at the high of the day. With the momentum catching up to this trend, the price is expected to move higher up towards its next target.

We are bullish above the risk management level of 667 with a target close to 790.