Aegis Logistics tests weekly breakout support near ₹1,220

Aegis Logistics Ltd. closed near ₹1,247 on the weekly chart after a sharp correction from the ₹1,450–₹1,500 zone. The recent decline looks aggressive, but the larger structure is still more constructive than the short-term price action suggests. The stock had broken out of a long consolidation pattern and remains above the broader Ichimoku cloud.

₹1,220 is now the key support to monitor. It aligns closely with the lower weekly cloud area and the current price zone. A sustained hold above this level would suggest that the move is a pullback within the larger uptrend. If ₹1,220 breaks on a weekly closing basis, the next important demand zone comes near ₹1,085–₹1,050. On the upside, ₹1,354 is the first resistance, followed by the recent swing-high zone around ₹1,450–₹1,500. A move above ₹1,354 would improve near-term momentum, while a breakout above ₹1,500 would restart the bullish structure. The chart is at an important decision point: price is testing support after a major rally. Rather than chasing a falling move, the key is to watch whether ₹1,220 attracts demand and whether weekly candles begin forming a higher low.