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The short-term outlook for the stock of Aegis Logistics is bullish. The price action since mid-August last year is in the form of a bull channel. The recent rise from the low of ₹339 is happening from the lower end of this channel. This keeps the bull channel intact. Also, the 2.88 per cent rise on Tuesday strengthens the bullish case for the stock to move up towards the upper end of the channel.
The stock can rally to ₹420 over the next three-four weeks. Traders can go long now. Accumulate on dips at ₹358. Keep the stop-loss at ₹340. Trail the stop-loss up to ₹375 as soon as the stock moves up to ₹385. Move the stop-loss further up to ₹395 when the stock touches ₹405 on the upside. Exit the longs at ₹410.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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