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Fortis Healthcare

BSE: 532843 | NSE: FORTIS | ISIN: INE061F01013 | SECTOR: HOSPITALS & MEDICAL SERVICES

52 WK LOW:  83.55   / 52 WK HIGH: 119.45


Investment Buy @CMP 115.25......Momentum Breakout above 120...Target 165 to 170, 200, Stop Loss of 104,

Risk Reward is 1:4

Analysis: On weekly charts Fortis Healthcare is forming a long term Inverted Head and Shoulders pattern in the range of upside 120 to downside 80 levels, and at previous weeks prices has give positive breakout from Triangle pattern from 103 levels, above 103 levels we see new buying rally in Fortis Healthcare, the past four years consolidation rally is at an  end, after the triangle breakout in Fortis Healthcare, above 120 levels  it will give momentum breakout from neckline for upside target of 165 to 170.

We advices to Investment accumulate Fortis Healthcare at current market price of 115 for momentum breakout above 120 & targets are 165 to 170, Stop loss of 104 for this trade. 

ADX: The ADX Indicator has give confirm buy signal of daily & monthly basis with high volume & the +  Plus Directional Indicator (+DI) riding with strong positive strength in power trend zone with  Average Directional Index (ADX) on daily basis. 

RSI: The RSI Indicator is showing positive diversions on monthly basis, and it has tested 60 levels after long consolidation rally. 


Fortis Healthcare (Monthly Chart)



























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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