Today’s pick: Aegis Logistics (₹364.50): BUY

The short-term prospects for Aegis Logistics stock are bullish. The price action since mid-August last year has taken the form of a bull channel. The recent rise from the low of £339 comes at the bottom of this channel. This leaves the bull channel intact. Tuesday’s 2.88 percent surge also strengthens the bullish case for the stock moving higher to the top of the channel.

The stock may climb to £420 in the next three to four weeks. Traders can now go long. Accumulate on dips at ₹358. Keep the stop loss at ₹340. Track the stop loss up to £375 once the stock rises to £385. Move the stop loss further up to ₹395 when the stock touches ₹405 on the upside. Exit the longs at ₹410.

(Note: Recommendations are based on technical analysis. There is a risk of loss when trading.) Today’s pick: Aegis Logistics (₹364.50): BUY

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