The Outperformers

April 15, 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 Tata Steel.

Let's see what's popped up this week.

Metals are leading the way and have been exhibiting strength in the names that we had suggested earlier. We had selected JSW Steel from our Outperformers list in early March. Seeing as the target mentioned before has been achieved, we thought we could update the target in this particular stock. The big base breakout in the stock coupled with strength in the sector led to a quick and explosive move!

JSW Steel is in a strong bull trend and stands out among the other names on the list. The breakout above the resistance of 590 was through a strong bullish candlestick alluding to the strength in the trend. With the indicator firmly placed in bullish momentum, this stock can be held with a target of 875 in mind. 590 will now act as the risk management level going forward.

We are bullish as long as the price sustains above 590.