Angel One Analyst Picks Fortis, Equitas SFB: Buy Signals Issued

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AuthorRiya Kapoor|Published at:
Angel One Analyst Picks Fortis, Equitas SFB: Buy Signals Issued
Overview

Osho Krishan, senior analyst at Angel One, recommends buying Fortis Healthcare and Equitas Small Finance Bank. Citing bullish technical indicators, Krishan has set aggressive price targets for both stocks, advising investors to consider entry points around ₹900-890 for Fortis and ₹64 for Equitas SFB.

Analyst Identifies Key Buy Opportunities

Angel One's Osho Krishan, a senior analyst specializing in technical and derivatives analysis, has pinpointed Fortis Healthcare and Equitas Small Finance Bank as prime investment opportunities. Krishan has issued a bullish outlook for both stocks, supported by strong technical charting patterns and momentum indicators.

Fortis Healthcare: A Bullish Technical Setup

Fortis Healthcare (FORTIS) has demonstrated a significant rebound, recently consolidating after a substantial rally. Krishan highlights a 'Cup & Handle' breakout on the technical charts, a pattern often signaling an upward price continuation. Furthermore, the stock's sustained trading above the 200-day Exponential Moving Average (DEMA) suggests a potential reversal of short- to medium-term trends. The SuperTrend indicator also flashes a bullish signal, confirming a turnaround after a prolonged correction.

Angel One recommends buying Fortis Healthcare within the ₹900-890 range, with a strict stop-loss set at ₹870. The target price is projected at ₹960.

Equitas Small Finance Bank Shows Momentum

Equitas Small Finance Bank (EQUITASBNK) is also in Krishan's spotlight. The stock has observed robust buying activity around key Exponential Moving Averages (EMAs) near the ₹60 mark, successfully breaching a downward trendline. This move indicates the commencement of a bullish phase.

Technical analysis further supports this view, with the MACD histogram exhibiting increasing buying momentum and a positive crossover above its signal line. Approaching positive crossovers in the EMAs suggest that the upward trajectory is likely to persist.

Krishan advises buying Equitas Small Finance Bank around ₹64, with a stop-loss at ₹57, and has set a target range of ₹74-80.

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