Aegis Logistics

We recommend a buy in Aegis Logistics stock from a short-term perspective. It is visible from the charts that the stock has been on a stable uptrend since the March low of Rs 52, forming higher trading zones. Within this uptrend, the stock had consolidated sideways in a narrow band of Rs 130 and Rs 150 between early September and November. The stock has a key long-term support at Rs 130. In the recent times it made an upward break through the sideways movement and gained 6 per cent with good volume on November 20. The stock is hovering well above its 21- and 50-day moving averages. The intermediate-term up-trendline is still in place. The daily and weekly relative strength indices are showing signs of optimism. Our short-term forecast is bullish on the stock. We expect it to extend its up move until it hits our price target of Rs 180. Trader with a short-term horizon can buy the stock while maintaining a stop-loss at Rs 155.

via BL