Fortis Healthcare has delivered a decisive breakout from an inverse head and shoulders pattern, reinforcing a bullish structural reversal, said the analyst.
Fortis Healthcare has delivered a decisive breakout from an inverse head and shoulders pattern, reinforcing a bullish structural reversal, said the analyst.Indian benchmark indices opened on a weak note on Friday on the back of selling pressure in select pockets. The indices signale a mild weakness at open but extended their fall as the session progressed. BSE Sensex and Nifty50 were down nearly half a per cent each at open.
Select buzzing stocks including IndusInd Bank, TVS Motor Company Ltd and Fortis Healthcare are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research Advisory at Master Capital Services has to say on them ahead of Friday trading session:
Fortis Healthcare | Buy | Target Price: Rs 1,030-1,060 | Stop Loss: Rs 903
Fortis Healthcare Ltd has delivered a decisive breakout from an inverse head and shoulders pattern, reinforcing a bullish structural reversal. The chart now reflects a developing higher high higher low sequence, highlighting strengthening trend structure. Price momentum has accelerated post breakout, with strong bullish candles indicating aggressive buying interest. The stock continues to trade comfortably above its key EMAs, confirming positive alignment and suggesting sustained upside potential in the near term
IndusInd Bank | Buy | Target Price: Rs 1,045 | Stop Loss: Rs 912
IndusInd Bank Ltd has confirmed a strong breakout from a symmetrical triangle formation, signalling expansion of the prevailing uptrend. The price structure is transitioning into a consistent higher high higher low pattern, reflecting improving demand dynamics. Post breakout, follow through has been supported by firm bullish price action, indicating sustained buying participation. The stock remains well placed above its major EMAs, maintaining positive trend alignment and reinforcing the likelihood of continued upside in the short term.
TVS Motor Company | Buy | Target Price: Rs 4,228 | Stop Loss: Rs 3,773
TVS Motor has witnessed a strong breakout from a recent consolidation zone, signaling continuation of its existing uptrend. The chart structure remains constructive with a clear higher high, higher low formation, reflecting sustained buying strength. Price momentum has improved with steady bullish candles, indicating accumulation at higher levels. The stock continues to trade firmly above its key EMAs, highlighting positive alignment and supporting a bullish short term outlook. RSI remains firm in positive territory, MACD sustains a bullish crossover.