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⭐️ Ultra Equity Advice #126 | Buy | Short Term Expected Profit 13-14% | Long Term Expected Profit 47-52%

OUR RECOMMENDATION

  Buy    FORTIS HEALTHCARE  

CP#117.5
IdeaBUY
Buy Range114 – 117
Target130 – 132
StopLoss*110
Duration12 – 15 Trading Days
Potential Returns^13 – 14%

# CP – closing price on Apr 28, 2020.
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 124.
^ Potential returns are calculated based on the median of buy range.

FOR LONG-TERM INVESTMENT

CP#117.5
IdeaBUY
Buy Range114 – 117
Target170 – 175
Duration14 – 18 Months
Potential Returns^47 – 52%

# CP – closing price on Apr 28, 2020.
^ Potential returns are calculated based on the median of buy range.

FOR SHORT-TERM TRADING

CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
117.5BUY114 – 117130 – 13211012 – 15 Trading Days13 – 14%

# CP – closing price on Apr 28, 2020.
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 124.
^ Potential returns are calculated based on the median of buy range.

FOR LONG-TERM INVESTMENT

CP#IdeaBuy RangeTargetDurationPotential Returns^
117.5BUY114 – 117170 – 17514 – 18 Months47 – 52%

# CP – closing price on Apr 28, 2020.
^ Potential returns are calculated based on the median of buy range.

 Verify Fortis - Ultra Equity Advice #126

To verify our authenticity and credibility, do check the trading position update and recommendation timestamp. Be assured such records are permanent and irreversible.

COMPANY OVERVIEW - FORTIS HEALTHCARE

Fortis Healthcare Limited (FHL) owns, manages and operates a network of specialty hospitals and diagnostic centres in India and around the world. This healthcare chain includes multi-speciality and super-speciality hospitals providing tertiary and quaternary healthcare to patients in areas such as cardiac care, orthopedics, neurosciences, oncology, renal care, gastroenterology and mother and child care. Fortis Healthcare also present in Dubai, Mauritius and Sri Lanka. In Q3FY20, Fortis Healthcare’s standalone net profit increased 194.48% to Rs 46.4 crore.

Stock Data
NSE CodeFORTIS
Sectoral IndexNifty Pharma
52W High169
52W Low111.3
Face Value10
Relative Performance_Fortis Healthcare vs Nifty Pharma Index

FORTIS HEALTHCARE TECHNICAL ANALYSIS (WEEKLY)

Fortis Healthcare Technical Analysis - Weekly Price Chart (since 2012)
Fortis Healthcare Technical Analysis - Weekly Price Chart (since 2012)
  • As we see in the Weekly chart, the long term trend is positive since 2012.
  • Price movement is confined by a upward slopping channel. There is a steady support baseline which is moving upwards along with price rise.
  • Presently, the stock price has placed near the Lower bound of this range and based on historical price pattern we are expecting price to rise from here.

FORTIS HEALTHCARE - PRICE VS MACD DIVERGENCE (DAILY)

FORTIS HEALTHCARE - PRICE VS MACD DIVERGENCE (DAILY)
Fortis Healthcare - Price vs MACD Divergence
  • MACD oscillator, invented by Gerald Appel is one of the most popular lagging indicators can be used to trade divergence between the indicator and price. The divergence occurs when price and MACD are going in separate directions.
  • We have noticed, price is making lower lows and MACD is making higher lows. This is a bullish divergence.
    The idea is that the rising momentum displayed by the indicator could be an early sign of a reversal.

FORTIS HEALTHCARE - PRICE VS MFI DIVERGENCE (DAILY)

Fortis Healthcare - Price vs MFI Divergence
Fortis Healthcare - Price vs MFI Divergence
  • Bullish MFI divergence occurs when the price is making lower swing lows while the Money Flow Index is making higher lows.
  • The positive divergence between MFI and Price indicates lossing of selling momentum and the downtrend is more susceptible to a reversal.

FORTIS HEALTHCARE - PRICE VS RSI DIVERGENCE (DAILY)

Fortis Healthcare - Price vs RSI Divergence
Fortis Healthcare - Price vs RSI Divergence
  • RSI has formed positive divergence on daily chart, which indicates lossing of selling momentum and possible rise in trend reversal.

FORTIS HEALTHCARE SHARE PRICE LIVE UPDATE - POSITION & ACTIVITIES

Position: Long Fortis Healthcare at ₹ 116.10 by GoodluckCapital on TradingView

Position: Long Fortis Healthcare at ₹ 116.10 by GoodluckCapital on TradingView

  • April 29, 2020

    Goodluck Capital Recommendation
    ⭐️ Ultra Equity Advice #126

  • Jan 08, 2021

    Trade closed: target reached
    Exit Long Position at ₹ 175

  • Absolute return per lakh capital
    ✔️ ₹50,732 (50.7%) in 8 months

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MONEY MANAGEMENT AND INVESTING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Diversify capital into our other investment recommendations.
3)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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