The long-term outlook for the stock of Aegis Logistics (₹284.70) is bullish. The stock has risen sharply after making a low of ₹167.45 in February this year. This rally confirms the reversal of downtrend that was in place since June last year.
Strong supports are at ₹259 – the 21-month moving average and at ₹243 and ₹218 – trendlines. The stock has a potential to target ₹430 on the upside in the first half of next year. Intermediate resistances are at ₹330 and ₹350. A strong break above ₹350 will pave way for the above-mentioned target of ₹430.
Read also: Three stocks that outperformed market this week
Investors with a long-term perspective can buy the stock at current levels. Accumulate the stock on dips at ₹265 and at ₹245. Keep the stop-loss at ₹172. Trail the stop-loss up to ₹310 as soon as the stock moves up to ₹370. Move the stop-loss further up to ₹380 when the stock touches ₹410 on the upside. Exit the stock at ₹420. The level of ₹180 is a crucial support which has to be broken to turn the outlook bearish. But that looks unlikely.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.