The Outperformers

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.

Industrial Manufacturing stocks are moving out of their ranges again. We're here to take advantage of one such stock.

Cummins India has had a pretty phenomenal recovery from lower levels of 280. Currently, the stock just broke out above its resistance of 1,050. A lot of stocks are now resuming their prior trend. Cummins has been in a sideways range for close to a year. And we finally have a breakout at hand!

The indicator too is moving into bullish territory, supporting this price move and breakout. With this move, we're looking at a six-year base breakout. In this market, base breakouts and smiley faces are the way to go!

We are bullish above the risk management level of 1,050 with a target close to 1,245. A move above 1,245 could take the stock higher towards 1,845. But for that, we have to wait for the confirmation signal!

This bottom-up scan helps us identify the stocks that are on the move as sectors continue to shuffle between strength and weakness.

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team