The Outperformers

April 7, 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 Cummins India.

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

Energy has been in the focus of late and today we have one such stock representing the same group.

Power Grid has been consistently moving higher slowly and silently. Owing to this move, we're looking at the price trading at its all-time highs as we speak. New highs, as we know are indicative of a bullish trend.

With the close last week, the price moved past its minor supply zone of 215. Above this level, the stock is good to go to its next target. You can't see it here, but the 200-day moving average is also sloping upwards (obviously-new highs). The breakout in the week gone by came on the back of a strong bullish candlestick.

This is not one of those stocks that zooms away before you know it. This is more of a 'slow is smooth and smooth is fast' kinda stock.

We are bullish above the risk management level of 215, with a target close to 265.