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The stock of Aegis Logistics turned the medium-term outlook positive after breaking out of a critical level at ₹250 in July this year. Since then, it has been charting higher highs andlows on the daily chart. On Wednesday, it moved past another key level of ₹325.
Although it ended largely flat on Thursday, the chart indicates that the scrip could appreciate on Friday. Therefore, we suggest going long on this stock at the current level of about ₹330. Place stop-loss at ₹323. Liquidate the longs when price hits ₹344. This is an intraday trade plan and so, liquidate the position at the end of the day irrespective of the price.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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