Technical Analysis – Fortis Healthcare
Fortis Healthcare (Rs 181.2)
Fortis Healthcare surged higher on Thursday following the announcement of the company acquiring 23.9 per cent stake in Singapore based Parkway Holdings.
The stock has been in an indomitable uptrend since the November 2009 trough of Rs 96.5, doubling in value in the last five months.
If we extrapolate the up-move from October 2008 low, we get medium term target of Rs 207. Short-term investors can therefore hold the stock with trailing stop of 5 per cent. Others can hold as long as the stock trades above Rs 152.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment