FORTIS HEALTH(channel breakout)This script has broken its resistance line with huge volume ,it was in the channel region for almost 12 years finally it had broken out of the resistance ,it seems to be a nice breakout.
FORTIS trade ideas
FORTIS looks lood positionallyChart Structure:
- Price came out of Darvas Box consolidation on 17th August.
- Consolidation was happening from May to August.
- After the Range breakout, the price took a little pullback.
Volume & Deliveries:
- During the consolidation phase, many days with positive volume activities were witnessed.
- Average Deliveries were 10.79 lac shares per day before Darvas Breakout.
- During breakout the average deliveries per day were 38.60 lac shares.
- In total, 7 sessions during the breakout, a total of 2.70 crore shares were delivered.
- Out of 2.70 crores, 41.86 lac shares were purchased by The Big Bull (Rakesh Jhunjhnwala)
- During the month of July, 19 Mutual Funds have increased their Holdings in Fortis whereas 8 Mutual Funds has decreased their holdings.
Relative Strength:
- From 8th March, the stock started outperforming Nifty in absolute terms in 6 months TF & from Adaptive RS date 16-Feb 2021
- Since then, the stock is outperforming Nifty as well as the Midcap index.
- Stock is outperforming the benchmark index and its sectoral index in 1W, 1M, 3M, 6M, 1Y & 2Y Timeframes.
- First Spread chart breakout happened on 18th August & the Second Spread breakout happened today on 27th August.
- With its performance in all timeframes and spread breakouts, it is established that the stock is an absolute outperformed, a Tendulkar indeed.
Company's Financial Performance:
- Fortis's Sales growth QoQ is 13% & 133% YoY
- PBT Growth stood at 342% QoQ & 1179% YoY
- PAT growth stood at 514% QoQ & 6700% YoY
- Overall company has posted super Quarterly numbers.
Sectoral Performance:
- A breakout happened after a consolidation of 2 months in the Healthcare Index (custom) and the index rose by 19.50% from that point. Another breakout happened recently on 16th August.
- Healthcare index is outperforming Nifty & the Midcap index in both short term (55) & long term (123)
Other Note-worthy points:
- Due to the geopolitical tensions happening due to the Afghanistan situation and due to the fear of the third wave of Covid, the institutional money has been shifting towards defensive sectors, like FMGC, Pharma etc.
- In this point, Big Bull has also increased his positions in Fortis, now owning more than 5% of the company.
- Due to these sectoral tailwinds and other factors, the stock is expected to perform well.
Most of the above-discussed factors look positive in favor of Fortis. The stock giving favorable returns positionally is probable.
STOCK FOR INVESTMENT FORTISGood morning frineds please see video for details. stock is for investment.
Regards.
Chanel breaout in fortis hospitalAfter a good consolidation it gave a breakout of channel on weekly time Frame.
Stock was working in a channel from a veryy lonv time so can move really good.
The longer the pattern the faster the move
It gave breakout on weekly time Frame so one should buy it for medium to long term if you want to capture all target
Target is around 350-370
#2 Fortis - Investment stock monthly TL BODetails given in the chart.
Monthly TL + Horizontal resistance BO
doji candelstick & mooving average support best buying price doji candelstick & mooving average support best buying price
Buy FORTIS HEALTHCAREaccording to 1day candle stick chart anylasis today this stock take support from 225 and recover from that. So we can suggest for buying this stock @230 or above and target 240-252-260++ .Buy swing trade.
Very good potential for upmove !!
#FORTIS CMP236 #Target254 #PMModi #ModiSpeech #Pharma #CNXPharmaDaily Chart
#FORTIS
NSE: FORTIS
Short Term Quick Profit
CMP 236
Target : 254
SL : 226
Timeframe < 30 Days
Can hold for longer time
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections and then higher highs again.
Factors:
Inverted Head & Shoulder Pattern Forming
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
Fortis intraday trade idea for 3rd August#FORTIS entry and exit levels on the chart (refer black/blue lines). Place SL@0.8% of the entry price. Zones (in pink/orange) are the places where it's unsafe to enter. #INTRADAY
BUY FORTIS HEALTHAccording to chart anylasis recently it give monthaly basis breakout and according to day candlestick pattern it make rounding bottom pattern and this pattern indicate it's really big move up side. So we can suggest for buying between 252 to 255 and target should be 265 if it break then 270-275++
Buy Fortis HealthBuy Fortis Health Stoploss 226.50
Stock is Trading in Upward Channel in Higher High and Higher Low Formation
Fortis Healthcare - Positional BetPurely consolidate in upmoving channel since IPO listed on exchange
And now trying to break upper edge of channel.
If closed above 260 levels in month closing then try to buy small qty, volume decreases in recent days that's why i recommend small qty
if stock corrects and we gets price near 220-230 level then add more qty for longterm basis.
Tgts open
Fortis breakout after three rounding bottoms - Bulling pattern Fortis has given a breakout after a rounding bottom and broken the resistance from May 2017. This is a bullish pattern.
Please note, this is not a recommendation and only an analysis.
Short Fortis HealthFortis Health
NSE:FORTIS
Cmp - 242
Stop - 285 on DCB
Expectation -
T1 - 200
T2 - Wait, Review at 200
Expected Holding Period - 100 trading days or earlier for T1
View:- Positional Exit
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Fortis - Ascending Triangle BreakoutAscending Triangle Breakout supported by a surge in volumes. Short-term momentum play.
LONG TERM BREAKOUT IN FORTIS HEALTHCARELONG TERM BREAKOUT AFTER 2017. A GOOD POSITION TO BUY THIS STOCK. FURTHER RALLY IN PHARMA SECTOR SHOULD HELP WITH THE RUN.
FORTIS SWING TRADE - BUY ABOVE 245 TGT-275,300 SL-220Ascending Triangle Pattern formed on Chart and Price Near Breakout zone with very nice Volume
Swing Trade Opportunity
Buy Above 245 TGT 1-275, TGT 2- 300, SL - 220
