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Price and trend forecast of FORTIS for Tomorrow, Weekly, Monthly

Fortis Healthcare Limited

Symbol: NSE:FORTIS

ISIN: INE061F01013

483.05

As on 2024-07-24

308.50 (52W Low) 509.85 (52W High)

FORTIS's Today's Performance

Fortis Healthcare Limited started the day by opening at 486.95 today 2024-07-24. Its shares reached a high of 493.25 and dipped to a low of 482.15 in intraday. When the markets closed, FORTIS’s stock price settled at ₹483.05 per share. Also check out its key support and resistance levels.

FORTIS Buy/Sell Targets

Tomorrow, sell FORTIS when its price reaches ₹ 483.05 with a stop-loss order at ₹ 491.51. You can set the target price as ₹ 474.59 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of FORTIS for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for FORTIS

Downside Targets Value in ₹
Tomorrow Down Target 1 490
Tomorrow Down Target 2 497
Tomorrow Down Target 3 501

Important Levels for FORTIS

Holding Levels Value in ₹
Tomorrow Up Target 1 479
Tomorrow Up Target 2 475
Tomorrow Up Target 3 468
Based on where the stock opens tomorrow, if FORTIS opens on a positive note, our first target will be ₹490. If Target 1 is achieved, we will aim for Target 2 which is ₹497.

But if FORTIS falls below the average value of ₹486.15, you can enter a sell side position with target number 1 - ₹479 and second target - ₹475 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of FORTIS

Looking at FORTIS, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, FORTIS has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for FORTIS is moderate bullish.

Tomorrow's Volume based share price Forecast for FORTIS

FORTIS's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 19%.

Reversal detection for FORTIS

Predicted trend chart of FORTIS tomorrow for price forecast
FORTIS may trend may continue to be bearish since stock is making lower low and we can get target of ₹490 in morning tomorrow
Target 1 tomorrow490
Target 2 tomorrow493
Target 3 tomorrow497
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with FORTIS's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if FORTIS opens on a positive note, our first target will be ₹490.15. If Target 1 is achieved, we will aim for Target 2 which is ₹497.25.

But if FORTIS falls below the average value of ₹486.15, you can enter a sell side position with target number 1 - ₹479.05 and second target - ₹475.05

FORTIS's Weekly Targets
1st Up Target 497.63
2nd Up Target 512.22
1st Down Target 471.73
2nd Down Target 460.42

As the week for FORTIS ended on bullish sentiments, we can expect further continuation of this sentiment. FORTIS's initial target will be 497.63 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 471.73 in the upcoming week.

Weekly OHLC Values
Open 479.70
High 500.90
Low 475.00
Close 483.05

Week for FORTIS started with an open price of 479.70, and the close was at 483.05. FORTIS reached the highest of 500.90 and dipped lowest up to 475.00 last week. This indicates a bullish sentiment for the week.

FORTIS full month swing targets
Monthly Up Target 1 523.53
Monthly Up Target 2 538.12
Monthly Down Target 1 445.83
Monthly Down Target 2 408.62

Targets of ₹523.53 can be expected to be reached in the coming month. Once FORTIS achieved this target, we can aim for the next upside target of ₹538.12.

FORTIS if fails to hold upside, down targets of ₹445.83 and ₹408.62 can be achieved by end of this month.

For complete three weeks if FORTIS is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as FORTIS

Symbol Name Industry
SUNPHARMA Sun Pharmaceutical Industries Limited Drug Manufacturers - Specialty & Generic
CIPLA Cipla Limited Drug Manufacturers - General
DRREDDY Dr. Reddy's Laboratories Limited Drug Manufacturers - Specialty & Generic
ZYDUSLIFE Zydus Lifesciences Limited Drug Manufacturers - Specialty & Generic
APOLLOHOSP Apollo Hospitals Enterprise Limited Medical Care Facilities

Summary

FORTIS is expected to reach the target of 490.15 in tomorrow's trading session.

After achieving the initial target in FORTIS, we will aim for higher targets of 497.25 tomorrow.

However, if FORTIS starts to trade below ₹486.15, then we will shift our focus to the sell side and aim for down targets of 479.05 and 475.05.