Fortis Healthcare shares have suffered a sharp correction over 34% after climbing to around ₹1,100 in October 2025, and over 25% in 3 months, but the decline could be setting up a potential technical rebound.
Choice Equity Broking’s Sumeet Bagadia sees buying interest emerging near a crucial support zone around ₹750, with the stock’s technical indicators suggesting that selling pressure may be approaching an extreme.
Choice has recommended buying Fortis shares at ₹794, with a target price of ₹892 and a stop-loss at ₹745.
“After peaking around ₹1,100 in late 2025, the stock underwent a significant correction and has now approached a crucial horizontal demand zone of ₹750. This zone presents an important support base for stabilization and a potential recovery towards higher levels.” Choice Equity Broking said in its research report.
Stock Price Trend
The healthcare stock declined around 2% to hit its 52-week low of ₹723.40 today. It is now down over 34% from its 52-week high of ₹1,101.40, hit in October last year.
It has been under pressure in recent times, down 3.5% in 1 week, 19% in 1 month, 25% in 3 months, and 34% in the last 1 year.
However, it has given multibagger returns in the last 5 years, soaring 173%.
Why is Choice’s Sumeet Bagadia bullish on Fortis Healthcare shares?
Fortis has corrected substantially from its late-2025 peak, however, Choice believes buying interest near this level could help the stock stabilise and attempt a recovery.
As per Choice, the momentum indicator was approaching oversold territory, suggesting that the stock had experienced considerable selling pressure. While an oversold reading does not guarantee an immediate reversal, it can indicate the possibility of a technical rebound if buying interest returns.
“The momentum indicator also signals the possibility of a recovery, with the Relative Strength Index (RSI) at 31.71, nearing the oversold territory. The RSI level, combined with the stock’s proximity to the crucial demand zone, indicates scope for a technical rebound as buying interest improves.” Choice Equity Broking said.
If the stock stabilises around ₹750 and buying interest strengthens, it could attempt to move towards higher levels. Conversely, a breakdown below this area would weaken the technical recovery thesis, making the prescribed stop-loss important for traders, added the brokerage.
Fortis Healthcare share price target, buy price and stop-loss
Choice Equity Broking has recommended Fortis shares at ₹794 for positional trading, with a target price of ₹892 and a stop-loss at ₹745. The brokerage’s stated trade duration is one month.
At the recommended entry price of ₹794, the target of ₹892 implies a potential gain of ₹98 per share, or approximately 12.3%. The stop-loss at ₹745 represents a potential loss of ₹49 per share, or around 6.2%.
Choice’s report reiterated that the stock was showing signs of stabilisation near the ₹750 demand zone and that sustained buying from this area could support a move towards the target.
“For positional traders, FORTIS can be considered around ₹794, with a stop-loss at ₹745. The stock is showing signs of stabilisation near the crucial ₹750 demand zone, and sustained buying interest from this support area could drive a recovery towards the ₹892 target.” Choice Equity Broking said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
