The Outperformers

May 19, 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 Reliance Industries

A new 52-week high is a scarce sight in the current market environment. We got that in ITC. This year relative to the Nifty 500, it's up by 40% for the first time since 2011.

ITC has shown strength amid the broader market weakness while staying in strong momentum territory. The price is hovering close to its multi-year breakout level. We are watching for confirmation above 278 for the next leg of upside.

If the price sustains above overhead supply at 278, the next target to track would be 315.