Technical Trend Overview and Price Movement
Fortis Healthcare’s current price stands at ₹832.75, down 2.22% from the previous close of ₹851.65. The stock’s intraday range on 2 Feb 2026 was between ₹828.00 and ₹868.20, reflecting heightened volatility. Over the past week and month, the stock has underperformed the broader market, with a 1-week return of -1.22% compared to the Sensex’s -1.00%, and a 1-month return of -5.24% versus the Sensex’s -4.67%. Year-to-date, Fortis has declined by 5.75%, slightly worse than the Sensex’s 5.28% fall.
Despite this short-term weakness, Fortis Healthcare’s longer-term performance remains robust. Over one year, the stock has surged 28.84%, significantly outpacing the Sensex’s 5.16% gain. The 3-year and 5-year returns are even more impressive at 200.47% and 415.32% respectively, dwarfing the Sensex’s 35.67% and 74.40% gains. This strong historical performance highlights the stock’s resilience and growth potential, though recent technical signals suggest caution in the near term.
MACD and Momentum Oscillators Signal Bearishness
The Moving Average Convergence Divergence (MACD) indicator, a key momentum oscillator, has turned bearish on the weekly chart and mildly bearish on the monthly chart. This suggests that the stock’s upward momentum is waning, with the MACD line crossing below the signal line on weekly data, signalling potential further downside. The KST (Know Sure Thing) indicator corroborates this view, showing bearish momentum on the weekly timeframe and mild bearishness monthly, indicating a deceleration in price gains.
Interestingly, the Relative Strength Index (RSI) remains neutral with no clear signal on both weekly and monthly charts, hovering around mid-range levels. This lack of RSI signal implies that the stock is neither overbought nor oversold, leaving room for directional movement but no immediate extremes that typically precede sharp reversals.
Moving Averages and Bollinger Bands Paint a Mixed Picture
Daily moving averages continue to show a mildly bullish stance, with the stock price hovering slightly above key short-term averages such as the 20-day and 50-day moving averages. This suggests that despite recent weakness, the underlying trend on a daily basis retains some upward bias. However, the weekly Bollinger Bands have turned bearish, indicating increased volatility and a potential for downward price pressure in the medium term. Contrastingly, the monthly Bollinger Bands remain mildly bullish, reflecting longer-term support and a possible stabilisation of price action over coming months.
These mixed signals from moving averages and Bollinger Bands highlight the complexity of the current technical landscape for Fortis Healthcare. While short-term momentum appears fragile, the longer-term trend retains some constructive elements.
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Volume and Dow Theory Insights
On-Balance Volume (OBV) indicators show no clear trend on either weekly or monthly charts, suggesting that volume flows have not decisively confirmed the price movements. This absence of volume confirmation adds to the uncertainty surrounding the stock’s near-term direction.
Dow Theory analysis reveals a mildly bearish weekly trend, while the monthly trend remains without a clear directional bias. This aligns with the broader technical picture of a stock in transition, where short-term bearishness is evident but longer-term trends have yet to decisively turn negative.
Market Capitalisation and Mojo Score Update
Fortis Healthcare currently holds a Market Cap Grade of 2, reflecting its mid-cap status within the hospital sector. The company’s Mojo Score has been downgraded from a Buy to a Hold as of 13 Jan 2025, with the latest score at 50.0. This adjustment reflects the tempered optimism among analysts, who are factoring in the recent technical deterioration and price momentum shifts.
Given the hospital sector’s sensitivity to regulatory changes and healthcare demand cycles, investors should weigh these technical signals alongside fundamental developments to make informed decisions.
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Investor Takeaway and Outlook
Fortis Healthcare’s recent technical shift from mildly bullish to mildly bearish momentum warrants a cautious stance from investors. The bearish MACD and KST readings on weekly and monthly charts indicate a potential slowdown in upward price momentum, while the neutral RSI suggests no immediate oversold conditions that might trigger a rebound.
The mixed signals from moving averages and Bollinger Bands further complicate the outlook, with daily averages still mildly bullish but weekly bands signalling increased volatility and downside risk. The lack of volume confirmation through OBV and the mildly bearish Dow Theory weekly trend add to the uncertainty.
Long-term investors may find comfort in the stock’s strong multi-year returns and the mildly bullish monthly Bollinger Bands, which suggest that the broader uptrend remains intact. However, short-term traders should be alert to potential further declines or consolidation phases before a clearer directional trend emerges.
Overall, Fortis Healthcare’s current technical profile aligns with its Mojo Grade Hold rating, reflecting a neutral stance that balances recent weakness against longer-term strength. Investors should monitor upcoming price action and volume trends closely, alongside sector developments, to gauge the stock’s next directional move.
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