Let's wait for the BO level @ 135 of fortis healthcare. this is very major resist. level for the stock . once broken we can see the level of 140 in the stock. Now can see stock is in bullish mode. for quite some time this stock in sideways but will take entry after the clean BO in the stock.
Always do trading as per your Reward to Risk ratio means Never risk more...
1) Likely to breakout of triangle pattern as low volume on retracement
2) Navi mumbai hospital which was loss making and eating away profits has now become ebitda positive, likely to boost profitability in near quarters
3) Fortis IHH deal will rerate the healthcare industry
4) RSI above 60 though fallen due to consolidation
Based on my PredictiveSystem's signals, its going to be a GREEN candle on 31-May-2018 for FORTIS
Buy Above: 146 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting...
BSE:FORTIS is trading at strong support zone, if NSE:FORTIS breaks the support, it can see 120 levels in near term, else bouncing back from the support can lead NSE:FORTIS to 160 levels.
However before investing in the company, Please note that statutory auditor has issued red flag with regard to sufficient and appropriate evidence, so staying away from it...
FORTIS has been moving in a down channel for a while.Taking support at the green level lately. Broke down and back on retesting the green level again. Awaiting a breakout or reversal.
Probably depending on the nifty's direction.
Strong support at 142 and the price got good bounce from the support, it happens many times in EOD. On here fortis looking good for short term or swing trade. Wait until to break the trend line. The levels of 155 to 165 is range formation and at present trend is not giving strength to pull up.
Buy above - 165
Target 1 - 175
Target 2 - 185
Stoploss - 155
I just aired my thoughts based on the daily chart, a little while ago. I asked the question, what next, in that chart. The zoomed-in view in the lower time frame is just an exercise to look at a few scenarios.
IF the price takes support at one of the green lines AND manages to clear the magenta resistance lines, it would be a strong clue that an upside range...
Price has been stuck in the broad range of 148-200, captured by the green zone. The recent rally off the green support line represents a higher low within the context of the trading range. If price manages to bounce off the intra-day support at 172-178 range, then I would get interested in the stock.
The real clincher would however be a strong breakout & close...