FORTIS HEALTHCARE
- Fortis Health Care has formed Triangle formation in daily chart. This pattern indicates that sharp move is expecting in coming days when stock comes out from its formation, which can be on either side. As shown in chart no1,
- Suggested Reading - BANK OF INDIA is trying to come out from its down channel formation, close watch.
- As per technical graph no2, 100 days moving average is playing an important role in Fortis from last 3 times stock bounced back from 100 DMA, so as long as it holds above it will be favored by bulls, but once Fortis Health closes below 100 DMA then it will show first sign of weakness. On upper side stock will find strong trend line resistance around 123.50, 127, And 128, once stock closes above its resistance levels shown above then bulls may have strong grip in this stock.
- Intraday trading tips - Close watch once Fortis starts trading above 123.50, if holds above 123.50 during market hours then intraday bulls action is expecting.
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- As per weekly chart shown in chart no3, stock has formed Rectangle formation , earlier stock tried to come out from its formation but failed and hence made a false breakout. Close watch is again moves up and closes above 128 and stays above then stock will favor short - long terms bulls. Close Watch.
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