Given the decent breakout, experts expect another 5-6 percent rally from current levels, taking the price target to around Rs 420, with support around Rs 370 – Rs 380 area.
Sunil Shankar Matkar
March 08, 2023 / 03:53 PM IST
The stock has formed a long bullish candlestick pattern with a long upper shadow on the daily charts, indicating a bit of profit booking at higher levels.
‘);
$ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]);
//if(resData[stkKey][‘percentchange’] > 0){
// $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
// $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
//}else if(resData[stkKey][‘percentchange’] < 0){
// $ (‘#greentxt_’+articleId).removeClass(“greentxt”).addClass(“redtxt”);
// $ (‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
//}
if(resData[stkKey][‘percentchange’] >= 0){
$ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
//$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
$ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”);
}else if(resData[stkKey][‘percentchange’] < 0){
$ (‘#greentxt_’+articleId).removeClass(“greentxt”).addClass(“redtxt”);
//$ (‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
$ (‘#gainlosstxt_’+articleId).find(‘.arw_green’).removeClass(“arw_green”).addClass(“arw_red”);
}
$ (‘#volumetxt_’+articleId).show();
$ (‘#vlmtxt_’+articleId).show();
$ (‘#stkvol_’+articleId).text(resData[stkKey][‘volume’]);
$ (‘#td-low_’+articleId).text(resData[stkKey][‘daylow’]);
$ (‘#td-high_’+articleId).text(resData[stkKey][‘dayhigh’]);
$ (‘#rightcol_’+articleId).show();
}else{
$ (‘#volumetxt_’+articleId).hide();
$ (‘#vlmtxt_’+articleId).hide();
$ (‘#stkvol_’+articleId).text(”);
$ (‘#td-low_’+articleId).text(”);
$ (‘#td-high_’+articleId).text(”);
$ (‘#rightcol_’+articleId).hide();
}
$ (‘#stk-graph_’+articleId).attr(‘src’,’//appfeeds.moneycontrol.com/jsonapi/stocks/graph&format=json&watch_app=true&range=1d&type=area&ex=’+stockType+’&sc_id=’+stockId+’&width=157&height=100&source=web’);
}
}
}
});
}
$ (‘.bseliveselectbox’).click(function(){
$ (‘.bselivelist’).show();
});
function bindClicksForDropdown(articleId){
$ (‘ul#stockwidgettabs_’+articleId+’ li’).click(function(){
stkId = jQuery.trim($ (this).find(‘a’).attr(‘stkid’));
$ (‘ul#stockwidgettabs_’+articleId+’ li’).find(‘a’).removeClass(‘active’);
$ (this).find(‘a’).addClass(‘active’);
stockWidget(‘N’,stkId,articleId);
});
$ (‘#stk-b-‘+articleId).click(function(){
stkId = jQuery.trim($ (this).attr(‘stkId’));
stockWidget(‘B’,stkId,articleId);
$ (‘.bselivelist’).hide();
});
$ (‘#stk-n-‘+articleId).click(function(){
stkId = jQuery.trim($ (this).attr(‘stkId’));
stockWidget(‘N’,stkId,articleId);
$ (‘.bselivelist’).hide();
});
}
$ (“.bselivelist”).focusout(function(){
$ (“.bselivelist”).hide(); //hide the results
});
function bindMenuClicks(articleId){
$ (‘#watchlist-‘+articleId).click(function(){
var stkId = $ (this).attr(‘stkId’);
overlayPopupWatchlist(0,2,1,stkId);
});
$ (‘#portfolio-‘+articleId).click(function(){
var dispId = $ (this).attr(‘dispId’);
pcSavePort(0,1,dispId);
});
}
$ (‘.mc-modal-close’).on(‘click’,function(){
$ (‘.mc-modal-wrap’).css(‘display’,’none’);
$ (‘.mc-modal’).removeClass(‘success’);
$ (‘.mc-modal’).removeClass(‘error’);
});
function overlayPopupWatchlist(e, t, n,stkId) {
$ (‘.srch_bx’).css(‘z-index’,’999′);
typparam1 = n;
if(readCookie(‘nnmc’))
{
var lastRsrs =new Array();
lastRsrs[e]= stkId;
if(lastRsrs.length > 0)
{
var resStr=”;
let secglbVar = 1;
var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) {
$ (‘#backInner1_rhsPop’).html(data);
$ .ajax({url:url,
type:”POST”,
dataType:”json”,
data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs},
success:function(d)
{
if(typparam1==’1′) // rhs
{
var appndStr=”;
//var newappndStr = makeMiddleRDivNew(d);
//appndStr = newappndStr[0];
var titStr=”;var editw=”;
var typevar=”;
var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’);
var phead =’Why add to Portfolio?’;
if(secglbVar ==1)
{
var stkdtxt=’this stock’;
var fltxt=’ it ‘;
typevar =’Stock ‘;
if(lastRsrs.length>1){
stkdtxt=’these stocks’;
typevar =’Stocks ‘;fltxt=’ them ‘;
}
}
//var popretStr =lvPOPRHS(phead,pparr);
//$ (‘#poprhsAdd’).html(popretStr);
//$ (‘.btmbgnwr’).show();
var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var postfolio_url = ‘https://www.moneycontrol.com/portfolio_new/add_stocks_multi.php?id=’+dispId; window.open(postfolio_url, ‘_blank’); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”);
$ (“#lightbox_cb”).css({
filter: “alpha(opacity=80)”
}).fadeIn()*/
$ (“.linkSignUp”).click();
}
function overlay(n)
{
document.getElementById(‘back’).style.width = document.body.clientWidth + “px”;
document.getElementById(‘back’).style.height = document.body.clientHeight +”px”;
document.getElementById(‘back’).style.display = ‘block’;
jQuery.fn.center = function () {
this.css(“position”,”absolute”);
var topPos = ($ (window).height() – this.height() ) / 2;
this.css(“top”, -topPos).show().animate({‘top’:topPos},300);
this.css(“left”, ( $ (window).width() – this.width() ) / 2);
return this;
}
setTimeout(function(){$ (‘#backInner’+n).center()},100);
}
function closeoverlay(n){
document.getElementById(‘back’).style.display = ‘none’;
document.getElementById(‘backInner’+n).style.display = ‘none’;
}
stk_str=”;
stk.forEach(function (stkData,index){
if(index==0){
stk_str+=stkData.stockId.trim();
}else{
stk_str+=’,’+stkData.stockId.trim();
}
});
$ .get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?classic=true&sc_id=’+stk_str, function(data) {
stk.forEach(function (stkData,index){
$ (‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]);
});
});
function redirectToTradeOpenDematAccountOnline(){
if (stock_isinid && stock_tradeType) {
window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’);
}
} Aegis Logistics shares were back on buyers’ radar on March 8 and climbed 5 percent to hit a record high despite consolidation in the broader markets. The stock closed at Rs 391.75 on the NSE.The stock has formed a long bullish candlestick pattern with a long upper shadow on the daily charts, indicating a bit of profit booking at higher levels due to a strong run-up. The rally was backed by robust volumes.Further, the stock traded above all key moving averages, making higher highs and higher lows for the second consecutive session, while on the monthly scale, it made higher highs and higher lows for the 10th straight month. It recouped all its previous nine-month losses (down 57 percent from June 2021 to February 2022) in the following twelve-and-half-month (up 135 percent from March 2022-March 2023).With Wednesday’s rally, it has seen a breakout of the bullish rounding bottom pattern with strong volumes and has been trading well above all key moving averages (50, 100 and 200-day EMA – exponential moving average), which is a positive sign. However, one needs to be cautious as the stock on monthly charts indicates bearish divergences given the price is making a higher high but the momentum indicator RSI (relative strength index) is making a lower high.
Given the decent breakout, experts expect another 5-6 percent rally from current levels, taking the price target to around Rs 420, with support around Rs 370 – Rs 380 area.”The stock price of Aegis Logistics has made a bullish breakout from its previous high of Rs 388.80. This breakout triggers buying opportunity with a potential upside close to 5 percent,” Foram Chheda, CMT, a Technical Research Analyst and Founder of ChartAnalytics.co.in, said.Chheda further said the stock price has been forming higher tops and higher bottoms; indicating a clear uptrend. This breakout was accompanied by an increase in volume; adding further bullish implications.”She feels PSAR (parabolic SAR indicator) continues to remain in buy mode.Thus, “a breakout from the resistance, increase in volume and PSAR in buy mode lay ground for a potential up move by close to 5 percent. Buying opportunities can be considered near Rs 380 – Rs 383 with an upside towards Rs 419 – Rs 421. Any price move below Rs 369 can be considered to move out of the stock,” she said.The parabolic SAR is a technical analysis indicator that sets trailing price stops for long or short positions and assists traders in selecting entry and exit points. The indicator is also referred to as a stop and reverse system, which is abbreviated as SAR.Vidnyan Sawant, AVP – Technical Research at GEPL Capital also believes the recent achievement of a new all-time high by the stock is indicative of a growing bullish sentiment. Additionally, the stock has recently broken out of a bullish rounding bottom pattern, which has been confirmed by a noticeable increase in trading volume.It is worth noting that the stock’s uptrend may continue until the level of Rs 380 is protected on the downside, Sawant feels.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
