FORTIS HEALTHCARE Weekly NSE Stock Chart Technical Analysis:
The stock price climbed up this week, opening at Rs 161.25 and closing at Rs. 167.30.
Market Outlook:
- The price will move upwards in the coming week as well and close higher than opening.
- Rs. 190 is a good point to enter this stock but this might take 2-3 weeks to reach.
- Next week price should reach around Rs. 174 levels.
- The price has support at Rs 155 but I don't expect this support will be required as the price is expected to move up only and not down.
Technical Indicators:
- Fibonacci 23.6% support at Rs. 154
- Bullish Rising Three Methods Candlestick pattern has formed. The pattern is weak and not exactly as per definition but the price should start moving up again this time.
News (Fundamentals):
- The Q2 profits are very healthy and the market is jumping in on this stock.
- The profit surge has happened because of stake sale, so next quarter is not going to show similar profit, leading to disappointment.
- Has created reserves by selling its stake and is planning to acquire Hyd based Care Hospitals to increase presence in S. India. The company is showing an ambitious face.
FORTIS HEALTHCARE Weekly NSE Stock Chart Technical Analysis
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