Investors with a short-term horizon can buy the stock of Aegis Logistics at current levels. The stock jumped 5 per cent with the above-average volume on Wednesday, regaining bullish moment. Moreover, this rally has decisively breached the stock's moving average compression (21-, 50- and 200-day moving averages) at around ₹185 and has strengthened the up-move. Since March low of ₹108, the stock has been in a medium-term uptrend. But it encountered a key resistance at ₹200 in early June and has been in a sideways consolidation with an upward bias. The near-term trend is also up.
The stock trades well above the 50- and 200-day moving averages. The daily relative strength index has entered the bullish zone from the neutral region, and the weekly RSI is on the brink of entering the bullish zone. Besides, the daily, as well as the weekly price rate of change, are featuring in the positive territory. The short-term outlook is bullish. The stock has the potential to surpass the current resistance and reach the price targets of ₹209 and ₹213 in the upcoming trading session. Traders can buy the stock with a stop-loss at ₹195.5.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)