Long

SWING IDEA - FORTIS HEALTHCARE

Updated

Fortis Healthcare, a leading Indian healthcare provider, presents a compelling opportunity for swing trading.

Reasons are listed below :

Breakout from Key Resistance Zone: The 450 level has acted as a strong resistance, being tested multiple times. The price is now breaking out of this zone, indicating strong upward momentum.
Bullish Engulfing Candle on Daily Timeframe: The recent daily candle engulfed the previous 7 daily candles, signaling a significant shift toward bullish sentiment and indicating potential for further upward movement.
Breaking 4-Month Consolidation Phase: The stock has broken out of a consolidation phase that lasted over 4 months, suggesting a new bullish trend might be forming.
Bounce from Golden Fibonacci Zone: The price retraced to the 0.618 Fibonacci retracement level and bounced back, indicating strong support and reinforcing the potential for a continued bullish trend.
Trading Above 50 and 200 EMA on Daily Timeframe: Fortis Healthcare is trading above both the 50-day and 200-day exponential moving averages, a strong indicator of a sustained uptrend.
Trading at All-Time High: The stock is currently at its all-time high, suggesting strong market interest and potential for further growth. However, caution is advised as all-time highs can also attract profit-taking or indicate overbought conditions.

Target - 500 // 525
Stoploss - daily close below 420

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@visionary.growth.insights

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Price retested to 450 levels and is now breaking out forming a bullish engulfing candle

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we can add some quatity here

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price action building up, hold!

Trade closed: target reached

1st target achieved : 12%++

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daily close above 500 will trigger further upmove

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undergoing accumulation

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HOLD!

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all time high close, hold!

Trade closed: target reached

2nd target achieved : 17%++

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made a new all time high
Achieved 19%++

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made a high of 24%++

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made a high of 30%++

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made a high of 37%++

6 days ago

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Achieved 42%++

Visionary_Growth_Insights

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