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The outlook for the stock of Fortis Healthcare is bullish. The downtrend was in place since January this year has been broken decisively. The 200-Day Moving Average (DMA) at ₹263 is good support now. Other supports are available at ₹270 and ₹266.
As long as the stock trades above these supports, the outlook will continue to remain bullish. There is potential to see a rise to ₹330 in the next three-four weeks. Traders with a short-term perspective can go long at current levels. Accumulate on dips at ₹268. Keep the stop-loss at ₹252. Trail the stop-loss up to ₹281 as soon as the stock moves up to ₹287. Move the stop-loss further up to ₹295 as soon as the stock touches ₹308 on the upside. Book profits at ₹320.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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