FORTIS - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.4

Here’s a detailed technical analysis of Fortis Healthcare Ltd (FORTIS)

📈 Trend Analysis

Current Price (₹967) is trading just below its 52-week high (₹983) and well above both 50-DMA (₹898) and 200-DMA (₹753) — confirming a strong bullish trend.

52-week Index at 96.5% shows the stock is near its yearly peak, indicating momentum continuation.

Trend Status: Trending upward, with breakout potential.

🔍 Momentum Indicators

RSI (64.7): In the bullish zone, approaching overbought territory — signals strength but caution for short-term pullback.

MACD (21.3): Strongly positive — confirms bullish momentum and trend continuation.

Volume: At 9.86L, slightly below 1-week average (10.41L) — suggests healthy participation, though not euphoric.

📊 Chart Patterns & Moving Averages

Golden Cross: Price above both 50-DMA and 200-DMA — a classic bullish signal.

Support Levels

₹898 (50-DMA)

₹880 (recent swing low)

Resistance Levels

₹983 (52-week high)

₹1,000 (psychological round number)

📉 Bollinger Bands

Price is near the upper band, indicating short-term overextension.

Bands are expanding, suggesting volatility and strength in the current move.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 900–920 Near 50-DMA and support zone

Exit (Short-Term) 980–1,000 Resistance zone, potential reversal

Stop Loss 880 Below swing low and trendline

🧭 Summary

Trend: Bullish

Momentum: Strong, nearing overbought

Volatility: High, with breakout potential

Ideal Strategy: Accumulate on dips near ₹900–₹920 with target ₹980–₹1,000. Monitor RSI and volume for signs of exhaustion or continuation.

Let me know if you'd like to compare this setup with other healthcare stocks or explore sector rotation strategies.

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