FORTIS - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.3
| Stock Code | FORTIS | Market Cap | 72,514 Cr. | Current Price | 960 ₹ | High / Low | 1,105 ₹ |
| Stock P/E | 356 | Book Value | 122 ₹ | Dividend Yield | 0.10 % | ROCE | 3.96 % |
| ROE | 2.23 % | Face Value | 10.0 ₹ | DMA 50 | 923 ₹ | DMA 200 | 883 ₹ |
| Chg in FII Hold | -1.86 % | Chg in DII Hold | 2.02 % | PAT Qtr | 33.0 Cr. | PAT Prev Qtr | 24.7 Cr. |
| RSI | 57.0 | MACD | 17.0 | Volume | 5,82,277 | Avg Vol 1Wk | 12,43,729 |
| Low price | 701 ₹ | High price | 1,105 ₹ | PEG Ratio | 6.41 | Debt to equity | 0.23 |
| 52w Index | 64.2 % | Qtr Profit Var | 382 % | EPS | 3.05 ₹ | Industry PE | 47.0 |
Chart & Trend Analysis:
FORTIS is trading at ₹960, above both its 50 DMA (₹923) and 200 DMA (₹883), reflecting short-term bullish support. RSI at 57.0 indicates neutral-to-positive momentum, while MACD at 17.0 confirms a positive crossover. Bollinger Bands are moderately wide, suggesting consolidation with potential breakout. Current volume (5.82L) is lower than the weekly average (12.4L), showing reduced participation.
Momentum Signals:
- RSI near 57 signals mild bullish bias.
- MACD positive, confirming short-term momentum.
- Resistance zones: ₹980–1,000 (near-term), ₹1,050–1,105 (major).
- Support zones: ₹940 immediate, deeper support at ₹923 (50 DMA).
- Trend status: Consolidating with bullish bias; reversal possible if price sustains above ₹1,000.
Entry Zone: ₹940–960 (accumulation zone)
Exit Zone: ₹980–1,050 (profit booking zone)
Stop-Loss: Below ₹923
Positive
- Price trading above both 50 DMA and 200 DMA confirms bullish technicals.
- DII holdings increased (+2.02%), showing strong domestic institutional support.
- Quarterly PAT improved to ₹33 Cr from ₹24.7 Cr (+382%).
Limitation
- Extremely high P/E (356) compared to industry average (47.0), indicating severe overvaluation.
- Weak ROE (2.23%) and ROCE (3.96%) highlight poor capital efficiency.
- EPS at ₹3.05 remains very low relative to valuation.
- Volume participation below average, limiting momentum confirmation.
Company Negative News
- Decline in FII holdings (-1.86%) shows reduced foreign investor confidence.
Company Positive News
- DII support indicates domestic institutional optimism.
- Quarterly profit growth highlights operational improvement.
Industry
- Industry PE at 47.0 is far lower than FORTIS’s P/E, suggesting extreme premium valuation.
- Healthcare sector remains resilient but competitive, with stronger peers offering better fundamentals.
Conclusion
FORTIS is consolidating with mild bullish bias, trading above key moving averages but burdened by weak fundamentals and stretched valuations. Entry near ₹940–960 offers limited upside, with exits around ₹980–1,050. Suitable only for short-term momentum trades with strict stop-loss discipline; long-term investors should remain cautious until profitability stabilizes.
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