LIC, Petronet LNG, Aegis Logistics, CDSL: Trading Strategies for these buzzing stocks

LIC, Petronet LNG, Aegis Logistics, CDSL: Trading Strategies for these buzzing stocks

Domestic stock indices on Tuesday extended its recent fall to the third straight session, as geopolitical tensions weighed on investor sentiment. The BSE Sensex dropped 456.10 points, or 0.62 per cent, to settle at 72,943.68. The NSE Nifty50 index tumbled 124.60 points, or 0.56 per cent, to end the session at 22,147.90.

A few buzzing stocks namely Life Insurance Corporation of India Ltd, Central Depository Services (India) Ltd (CSDL), Aegis Logistics Ltd and Petronet LNG are likely to remain under traders’ radar for the session today. Here is what various brokerage firms have to say on these stocks ahead of Thursday’s trading session:

Aegis Logistics | Buy | Target Price: Rs 541- 555 | Stop Loss: Rs 436

Aegis Logistics has broken above an ‘Inverse Head & Shoulders’ pattern at Rs 460 on the daily chart, accompanied by a strong bullish candle, signaling a positive bias. It also registered an all-time high at Rs 485 level, indicating bullish sentiment. The stock is staying above key moving averages, including the 20-, 50-, 100-, and 200-day SMAs, suggesting a positive bias. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 541- 555 levels.

Recommended by: Axis Securities

Life Insurance Corporation of India | Buy | Target Price: Rs 1,200 | Stop Loss: Rs 900

Shares of LIC, after a correction, bottomed out near Rs 870-level. The stock formed a higher bottom formation on the daily chart. It made a positive candle formation and also crossed above the significant 20-DMA level of Rs 946 to indicate a potential strength. The RSI has shown a reversal from the oversold zone, signalling buy. One  can buy and accumulate the stock for an upside target of Rs 1,200, keeping the stop loss near Rs 900.

Recommended by: Prabhudas Lilladher

Petronet LNG | Buy | Target Price: Rs 333-347 | Stop Loss: Rs 277

Petronet LNG has broken out of a four-year multiple resistance zone of Rs 300 level on a closing basis on the weekly chart. A Flag formation breakout on the weekly time frame is accompanied by a robust bullish candle, indicating a potential continuation of the prior uptrend. Volume activity has increased at the breakout, indicating a surge in market participation. The daily and weekly strength indicator RSI has given a crossover above its reference line and generated a buy signal. The above analysis indicates an upside towards Rs 333-347 levels.

Recommended by: Axis Securities

Central Depository Services (India) | Buy | Target Price: Rs 2,185-2,250 | Stop Loss: Rs 1,675

CDSL has broken out above the ‘falling channel’ pattern at Rs 1,940 on the weekly chart, signaling a shift in trend towards a positive bias. This breakout is accompanied with a huge volume spurt indicating a strong comeback of bulls. Daily ‘band Bollinger’ buy signal signifies increased momentum. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 2,185-2,250 levels.

Recommended by: Axis Securities

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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