The Outperformers

July 23, 2021

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 chart to enlarge view.

In our last post, we looked at Ramco Cements.

Today we are looking at an IT stock that seems to be getting its groove back!

Tech Mahindra has been consolidating for a while now but it looks like that consolidation has witnessed a resumption in trend. The price broke out of its sideways move and has now continued its upward trajectory.

The indicator is getting back into the bullish regime, adding strength to the move. With this trend in place, the stock could move higher towards 1,365 in the weeks and months ahead.

We are bullish above the risk management level of 1,055, with a target near 1,365.

IT has been displaying strength and this is another sign of that as large-cap constituents moving out of their consolidations.