Fortis Healthcare (Rs 156): Fortis Healthcare has key long-term resistance in the zone between Rs 120 and Rs 130 and it was struggling to move past this zone till the last week of December 2009.
In our review of this stock in December last year, we had indicated that an ascending triangle pattern was forming that had the target of Rs 170.
The stock broke out of the upper boundary of this triangle pattern in December last year and recorded the recent peak at Rs 162.4 on February 17.
Investors with a short to medium-term perspective can hold with stop at Rs 132. If this level holds, investors can expect a rally to Rs 173 over the medium-term.
Source BL
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048
For Free Stock Advise + Ideas
sowmya@ravinaconsulting.com
Talk / SMS 08105737966
Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor