Published on 20/03/2019 5:01:16 PM | Source: HDFC Securities Ltd

Buy Aegis Logistics Ltd For Target Rs.260 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Aegis Logistics Ltd #Shipping and Logistics Sector #HDFC Securities #Trading Report

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* The stock shows a positive bias for the short term; the above “weekly chart” of “Aegis Logistics” shows bullish evidences as per Japanese Candle Stick, Western Technicals and Elliot Wave Perspective.

* Few weeks back, price has validated bullish reversal candle pattern (Engulfing Bull) i.e. a move above candles’ high of Rs 198 which is a confirmation of a bullish reversal formation.

* At the same time short trend line breakout has been witnessed on weekly chart which is a bullish development. Now price is in a throwback fall which is a “buy on dips” opportunity. In addition, RSI oscillator is placed with a strong positive divergence on weekly chart.

* Double bottom has been formed on weekly chart. Stock has bottomed out (for the short term) at 170 which is end of major falling leg and price has reversed from the lows and shows strong positive momentum from the bottom.

* Wave wise; major “wave c” has ended at the low of 170andfrom there the stock has begun anew five/three wave rise. (Fresh rally/ upward retracement)which could initially head towards 235 and 260 levels (the levels are slightly below 100% & 138.2% projection of last two legs)

* traders can buy the stock between CMP to 193 with the stoploss of 187 on closing basis and targets of 235 - 260.


 Aegis Logistics Ltd Buy between CMP & Rs.193 Stop Loss 187 Target 235 - 260 CMP 202


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