FORTIS - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 2.8
| Stock Code | FORTIS | Market Cap | 69,679 Cr. | Current Price | 923 ₹ | High / Low | 1,105 ₹ |
| Stock P/E | 400 | Book Value | 122 ₹ | Dividend Yield | 0.11 % | ROCE | 3.27 % |
| ROE | 1.41 % | Face Value | 10.0 ₹ | DMA 50 | 882 ₹ | DMA 200 | 867 ₹ |
| Chg in FII Hold | -1.86 % | Chg in DII Hold | 2.02 % | PAT Qtr | 24.7 Cr. | PAT Prev Qtr | 105 Cr. |
| RSI | 60.8 | MACD | 23.9 | Volume | 10,77,160 | Avg Vol 1Wk | 12,71,068 |
| Low price | 623 ₹ | High price | 1,105 ₹ | PEG Ratio | 2.54 | Debt to equity | 0.22 |
| 52w Index | 62.2 % | Qtr Profit Var | -30.0 % | EPS | 2.16 ₹ | Industry PE | 47.1 |
📈 Chart Patterns: Price is trading above both 50 DMA (882 ₹) and 200 DMA (867 ₹), showing short-term strength. Trendlines suggest resistance near 940–960 ₹ and support around 910–915 ₹.
📊 Moving Averages: Current price (923 ₹) above both DMAs indicates bullish bias in the short term, though fundamentals remain weak.
📉 RSI: At 60.8, RSI is moderately strong, suggesting momentum but nearing overbought territory.
📊 MACD: Positive at 23.9, confirming bullish crossover and short-term upside potential.
📉 Bollinger Bands: Price near upper band, reflecting momentum but also risk of pullback.
📊 Volume Trends: Current volume (10.8L) below 1-week average (12.7L), showing reduced participation despite price strength.
🎯 Momentum Signals: Mildly bullish. MACD and moving averages confirm strength, but weak fundamentals and volume limit conviction.
💹 Entry Zone: 910–915 ₹ (support levels).
💹 Exit Zone: 940–960 ₹ (resistance levels).
📌 Trend Status: Consolidating with mild bullish bias.
Positive
- Price trading above both 50 DMA and 200 DMA confirms short-term strength.
- DII holdings increased (+2.02%), showing domestic institutional support.
- Debt-to-equity ratio at 0.22 indicates manageable leverage.
- MACD positive crossover supports momentum-driven trades.
Limitation
- Extremely high P/E (400) compared to industry PE (47.1), indicating severe overvaluation.
- Weak ROE (1.41%) and ROCE (3.27%) highlight poor capital efficiency.
- EPS of 2.16 ₹ is very low relative to valuation.
- Volume below average, limiting breakout confirmation.
Company Negative News
- Quarterly PAT declined sharply (24.7 Cr. vs 105 Cr.).
- FII holdings reduced (-1.86%), showing weaker foreign investor confidence.
Company Positive News
- DII support indicates domestic institutional optimism.
- Stock holding above support zones despite weak fundamentals shows resilience.
Industry
- Industry PE at 47.1 is far lower than FORTIS’s P/E, suggesting extreme overvaluation.
- Healthcare sector remains resilient but competitive, with stronger peers offering better fundamentals.
Conclusion
⚖️ FORTIS is consolidating with weak fundamentals and stretched valuations. Entry near 910–915 ₹ is viable only for short-term trades with strict stop-loss discipline. Exit opportunities lie around 940–960 ₹. Long-term investors should remain cautious until profitability stabilizes and valuation normalizes.