The short-term outlook is bullish. The stock has surged over 8 per cent on Thursday. This rise has taken the share price well above the key resistance level of ₹416. It also marks the resumption of the overall uptrend in this stock. Aegis Logistics share price can rise to ₹460 over the next two-three weeks. Strong support is in the ₹416-₹413 region. Intermediate dips if seen are likely to be limited to this support zone.
Fresh buyers are likely to come into the market at lower levels. Traders can go long now at ₹426. Accumulate on dips at ₹418. Keep a stop-loss at ₹408. Trail the stop-loss up to ₹431 as soon as the stock moves up to ₹438. Move the stop-loss further up to ₹442 when the price touches ₹447. Exit the long positions at ₹455.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)