Fortis and Equitas Bank Stock Recommendations Analyzed

Angel One’s technical analyst, Osho Krishan, suggests buying two stocks – Fortis and Equitas Bank – based on recent market movements and technical indicators. These recommendations are driven by patterns and data that suggest these companies are poised for growth. Investors should consider these signals, but always with caution and a full understanding of their own risk tolerance.

Key Points

• Fortis shows a ‘Cup & Handle’ breakout, a positive trend signal.
• Technical indicators point to a potential reversal after a period of decline.
• The stock could rise to ₹960 with a target price of ₹900-890.
• Equitas Bank momentum is strong, confirmed by several positive signals.
• MACD histogram shows buying momentum and a positive crossover signal.
• A target price of ₹74-80 suggests further upward movement for Equitas.

Fortis Analysis

Fortis has been rising lately, but recently paused. This pause, called a “retracement,” was actually a good sign. Technicians look for patterns in the stock’s price, and Fortis formed a shape called a “Cup and Handle,” which is a signal that the stock might keep going up.

Another important thing is that the stock price is above a key line called the 200-day moving average. This is like a support level and suggests that the upward trend is more likely to continue. The SuperTrend indicator also shows a bullish outlook – meaning it thinks the stock will likely go up.

The recommendation is to buy Fortis around ₹900 or ₹890. If the stock price drops to ₹870, it’s considered a “stop-loss” to limit potential losses. The goal (target) is to reach ₹960.

Equitas Bank Analysis

Equitas Bank has been gaining momentum, meaning its price is going up. This momentum is supported by the bank surpassing a downward trendline, indicating a change in direction.

The MACD histogram, which tracks changes in momentum, is now showing a positive trend because it’s above the signal line. Additionally, the moving averages are starting to cross over, which is another sign of increasing confidence in the stock’s future.

The recommendation is to buy Equitas Bank around ₹64. Setting a stop-loss at ₹57 helps manage risk, and the target price is ₹74-80.

“Investing in the stock market involves risk. These recommendations are based on technical analysis and should be considered alongside your own research and financial goals.”