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.