The Outperformers

April 21, 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 Power Grid Corporation of India.

Since the market sentiment hasn't changed drastically since the last post, Energy continues to dominate the strong parts of the market. So today, we have another name from the same sector. The leader of them all - Reliance Industries!

Reliance showed up recently in our Trade of the Week post, and it's making its way to the Outperformers scan now.

Reliance Industries is displaying strength on an absolute and relative basis. The price is hovering close to its breakout level. We are observing this price action for now. But we're interested and bullish only and only above the level of 2,750.

So what are the levels we're tracking?

In the event that the price moves above the risk management level of 2,750, the next target to track would be 3,105.

So what do we do now?

Until we get a confirmed breakout, this is a waiting game. All we can do is watch and observe.