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

Fortis Healthcare Limited

Symbol: NSE:FORTIS

ISIN: INE061F01013

441.10

As on 2024-04-16

254.75 (52W Low) 469.70 (52W High)

FORTIS's Today's Performance

Fortis Healthcare Limited started the day by opening at 432.00 today 2024-04-16. Its shares reached a high of 443.40 and dipped to a low of 429.30 in intraday. When the markets closed, FORTIS’s stock price settled at ₹441.10 per share. Also check out its key support and resistance levels.

FORTIS Buy/Sell Targets

Tomorrow, buy FORTIS when its price reaches ₹ 441.10 with a stop-loss order at ₹ 433.41. You can set the target price as ₹ 448.79 to capture potential gains. This buy 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 support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for FORTIS

Resistance Levels Value in ₹
Tomorrow Resistance 1 447
Tomorrow Resistance 2 452
Tomorrow Resistance 3 461

Important Supports for FORTIS

Support Levels Value in ₹
Tomorrow Support 1 432
Tomorrow Support 2 424
Tomorrow Support 3 418
Based on where the stock opens tomorrow, if FORTIS opens on a positive note, our first target will be ₹447. If Target 1 is achieved, we will aim for Target 2 which is ₹452.

But if FORTIS falls below the average value of ₹437.93, you can enter a sell side position with target number 1 - ₹432 and second target - ₹424 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 Increasing 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 strong bullish.

Tomorrow's Volume based share price Forecast for FORTIS

FORTIS's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong 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 bullish since stock is making higher highs and we can get target of ₹434 in morning tomorrow
Target 1 tomorrow443
Target 2 tomorrow447
Target 3 tomorrow452
 

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 ₹446.57. If Target 1 is achieved, we will aim for Target 2 which is ₹452.03.

But if FORTIS falls below the average value of ₹437.93, you can enter a sell side position with target number 1 - ₹432.47 and second target - ₹423.83

FORTIS's Weekly Targets
1st Up Target 448.55
2nd Up Target 456.00
1st Down Target 428.50
2nd Down Target 415.90

As the week for FORTIS ended on bullish sentiments, we can expect further continuation of this sentiment. FORTIS's initial target will be 448.55 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 428.50 in the upcoming week.

Weekly OHLC Values
Open 432.00
High 443.40
Low 423.35
Close 441.10

Week for FORTIS started with an open price of 432.00, and the close was at 441.10. FORTIS reached the highest of 443.40 and dipped lowest up to 423.35 last week. This indicates a bullish sentiment for the week.

FORTIS full month swing targets
Monthly Up Target 1 468.60
Monthly Up Target 2 476.05
Monthly Down Target 1 408.45
Monthly Down Target 2 375.80

Targets of ₹468.60 can be expected to be reached in the coming month. Once FORTIS achieved this target, we can aim for the next upside target of ₹476.05.

FORTIS if fails to hold upside, down targets of ₹408.45 and ₹375.80 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 446.57 in tomorrow's trading session.

After achieving the initial target in FORTIS, we will aim for higher targets of 452.03 tomorrow.

However, if FORTIS starts to trade below ₹437.93, then we will shift our focus to the sell side and aim for down targets of 432.47 and 423.83.