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 Asian Paints.

Today we're taking a look at a stock from the Automobile Sector. Similar to Nifty Auto's multi-year breakout last month, Eicher Motors had a breakout above the 2017 high. The stock moved past the resistance zone of 3,348 with the momentum indicator in overbought territory, adding bullish evidence. The long-term base breakout setup provides a precise risk management level with early implications in case the breakout fails. Here we are positive as long as the price remains in an area of no overhead supply. We are bullish above the risk management level of 3,348, with an upside target close to 4,648.

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