Fortis Healthcare Ltd – Bearish Setup Discussion

The stock is currently consolidating around the ₹918 zone after facing repeated resistance at higher levels. Price action suggests that the stock is struggling to regain strength above the key resistance area, while overall momentum remains relatively weak. A possible Right Shoulder formation is also visible on the chart, which makes the ₹918 support zone an important level to monitor for the next directional move. 🔎 Technical View: • Possible Right Shoulder formation visible • Price continues to face resistance at higher levels • Momentum remains weak and recovery attempts are facing selling pressure • ₹918 is an important near-term support zone • A decisive breakdown below ₹918 may increase downside pressure • Traders should monitor price action and volume around the key levels 🔑 Key Levels: 🔴 Resistance: ₹944–₹962 🟢 Support: ₹918–₹893 🟢 Major Support: ₹858–₹824 📉 Potential Downside Levels: 🎯 ₹893 🎯 ₹858 🎯 ₹824 🎯 ₹790 🎯 ₹755 📈 Trading View: A sustained move below the ₹918 support zone could indicate further weakness and may open the possibility of a move towards ₹858–₹790, followed by ₹824 and ₹755 depending on the strength of the selling momentum. On the other hand, traders should closely monitor the ₹944–₹962 resistance zone, as a strong recovery above this area could alter the current bearish setup. The mentioned levels should be monitored in the context of overall market conditions, price action, volume and volatility. Proper risk management remains important, particularly if the stock experiences sharp directional movements. ⚠️ For educational purposes only. Not a buy/sell recommendation. Please conduct your own research and consult a SEBI-registered investment professional before making any investment decision. — AALGO BREATHS 📊