Today’ Pick: Fortis Healthcare (₹277.05): BUY

Gurumurthy K |BL Research Bureau | | Updated on: Jul 21, 2022

Book profits at ₹320

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.)

Published on July 22, 2022
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you