FORTIS - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 2.6
| Stock Code | FORTIS | Market Cap | 63,685 Cr. | Current Price | 844 ₹ | High / Low | 1,105 ₹ |
| Stock P/E | 365 | Book Value | 122 ₹ | Dividend Yield | 0.12 % | ROCE | 3.27 % |
| ROE | 1.41 % | Face Value | 10.0 ₹ | DMA 50 | 890 ₹ | DMA 200 | 868 ₹ |
| Chg in FII Hold | -0.06 % | Chg in DII Hold | 0.19 % | PAT Qtr | 24.7 Cr. | PAT Prev Qtr | 105 Cr. |
| RSI | 41.1 | MACD | -16.9 | Volume | 22,45,995 | Avg Vol 1Wk | 20,60,289 |
| Low price | 521 ₹ | High price | 1,105 ₹ | PEG Ratio | 2.32 | Debt to equity | 0.22 |
| 52w Index | 55.2 % | Qtr Profit Var | -30.0 % | EPS | 2.16 ₹ | Industry PE | 43.5 |
📉 Chart & Trend: FORTIS is trading at ₹844, below both its 50 DMA (₹890) and 200 DMA (₹868). This indicates short-term and medium-term weakness. The stock is in a downtrend with bearish bias.
📊 Momentum Indicators:
- RSI at 41.1 shows weak momentum, leaning towards oversold territory.
- MACD at -16.9 confirms bearish crossover and selling pressure.
- Bollinger Bands: Price is near the lower band, suggesting downside bias but no reversal yet.
- Volume is slightly above average (22,45,995 vs 20,60,289), showing active participation, likely driven by selling pressure.
📈 Support & Resistance:
- Immediate support: ₹830–840 zone.
- Strong support: ₹800 and ₹521 (recent low).
- Resistance zones: ₹868 (200 DMA) and ₹890 (50 DMA).
- Optimal entry: ₹830–845 near support.
- Exit zone: ₹880–900 if rebound occurs.
🔎 Trend Status: The stock is consolidating with bearish bias, awaiting breakout above 50 DMA for reversal confirmation.
Positive
- EPS of ₹2.16 provides a base for valuation despite weakness.
- DII holding increased by +0.19%, reflecting domestic institutional support.
- 52-week index performance (+55.2%) highlights resilience despite volatility.
Limitation
- Extremely high P/E of 365 compared to industry PE of 43.5 suggests severe overvaluation.
- ROCE (3.27%) and ROE (1.41%) are weak, showing poor capital efficiency.
- PAT declined sharply to ₹24.7 Cr from ₹105 Cr, showing earnings pressure.
Company Negative News
- FII holding decreased by -0.06%, showing reduced foreign investor confidence.
- Quarterly profit variation (-30%) highlights earnings volatility.
Company Positive News
- DII holding increased by +0.19%, reflecting domestic institutional confidence.
- Strong brand presence in healthcare services supports long-term demand.
Industry
- Healthcare sector remains defensive, benefiting from steady demand and government focus on medical infrastructure.
- Industry PE at 43.5 is far lower than FORTIS’ PE (365), highlighting valuation concerns.
Conclusion
📌 FORTIS is technically weak, consolidating below key moving averages with bearish momentum. Entry is favorable around ₹830–845 with stop-loss below ₹820. Short-term rebound may target ₹880–900, but sustained breakout requires volume confirmation. Fundamentally challenged with weak ROCE/ROE and extreme valuation, making it risky despite institutional support and sector resilience.
Would you like me to extend this into a peer benchmarking overlay against healthcare leaders like Apollo Hospitals, Narayana Hrudayalaya, and Max Healthcare to highlight relative strength and sector rotation opportunities?