Fortis Healthcare Short Term Trade
Updated
The stock has been in an overall long term uptrend, with visible higher highs and higher lows
Level around 572 has been a strong support since the last three months
During this period the chart followed a rising trendline as resistance, forming a rising head and shoulder like pattern.
Now a breakout has occurred through this zone, with a rise in volume and atr on breakout
The overall volume also indicates bullish strength in the stock,
Thus, for a short term trade,
tgt 718, sl 656.5
Level around 572 has been a strong support since the last three months
During this period the chart followed a rising trendline as resistance, forming a rising head and shoulder like pattern.
Now a breakout has occurred through this zone, with a rise in volume and atr on breakout
The overall volume also indicates bullish strength in the stock,
Thus, for a short term trade,
tgt 718, sl 656.5
Trade closed: target reached
tgt reached
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