Fortis tried to break the level multiple times and it's still holding on the good pattern.
there is an uptick in the daily volume and I am expecting it to go up again.
Had entered at 422 and today again I entered at 442.
Stop loss at 412. average at 432 immediate target 470
Loss of (23 points) against the profit of 38 points.
Fortis Healthcare Strong Breakout
Bullish..
Good Volume...
Small Stoploss..
Education Purpose Only... Please Consult Your Financial Adviser Before investing..
Please Maintain Strict Stoploss...
Book 70% at Target 1 and Rest Trail and Book at Target 2 ...
Don't Risk More than 1% or 2% of your capital in a single Trade..
There is no guarantee in stock market and Nothing over week
STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY, NOT BUY OR SELL RECOMMENDATIONS}
Fortis Healthcare Ltd.
Target: RS 455
CMP: RS 430.95
ENTRY RANGE: 425-435
STOP LOSS: RS 410
Disclaimer: I am not Sebi Registered.
After a breakout from the range pattern, Stock is now in clear uptrend
past few trading sessions sellers trying to pull it down
but buyers form LONG WICK CANDLES
A huge volume candle breaking above the range gives eye raising entry price but risk rewaard ratio is not favourable much.So,small quantity is preferred for the target.
BUY - FORTIS HEALTH
CMP - Rs. 324
Target - 1: Rs. 420
Target - 2: Rs. 552
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Timeframe - 3 months - 6 months
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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Technical Reason:
The Stock has recently broken its 300 level's crucial Resistance Zone in Weekly TF.
As per Daily TF, the Stock is continuing its up-trend momentum by maintaining a Higher Higher formation and also it is trading above 50 & 200 EMA.
The Fundamentals of the company is also satisfactory. We have observed a slow & steady profit growth in this Company
