Technical Analysts Gujral said Fortis Healthcare may test Rs 235-240

Ashwani Gujral of said today, "Bharat Financial Inclusion looks very poor and so does the rest of microfinance institutions. Given this entire environment of loan waiver, I don’t think farmers are so intelligent they will differentiate between bank loan and microfinance loan, etc. I don’t think this environment, the stocks will be able to do well. Possibly it can go down still further, Rs 650 thereabouts."

As per Gujral, "Obviously these guys will say they won’t get impacted, they won’t come on TV and say that we will get impacted. I will stay clear of them, NBFCs, these are trading below their 200-day moving averages which says a lot."

"Fortis Healthcare has declined quite a bit towards its 200-day moving average. As long as Rs 180 kind of holds on, there is still hope that it should probably trade towards Rs 235-240. From a risk reward, it is a good buy with Rs 10 odd stoploss, but whether it catches momentum because of news, that the news flow will have to decide." he added

"Both Eicher Motors and Escorts have corrected quite a bit. So, now you need a move on the upside to basically enter your trade. So, both these stocks have corrected. They are in strong uptrend. So, any time you get a 2-3 percent move on the day, these should be ready to go."

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