#WSTCSTPAPR
Nice retest of the breakout parallel channel.
If this retest holds as support, I think price can bounce nicely in coming day/ weeks.
Weekly Stoch RSI also crossing bullish!
Expecting 20-30% move minimum.
#WSTCSTPAPR / West Coast Paper Mills Ltd
Looks amazing at current levels. Paper stocks were in focus few months back and should be back in focus soon I believe.
Technical and Fundamentals of these stocks are good. Stock was in consolidation mode for 1 year before the breakout and now retesting previous ATH levels.
I'll be looking to buy this on Monday as soon...
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Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation
Currently in consolidation stage .
Entry at 470 to 480
St at 453 Rs
6 months target 890Rs
It will start breakout from end of July and then again it will fly.
After a year, a weekly as well as daily breakout with decent volume sprut has been clearly visible on this stock. It can move to 800 levels in short term.
its purely based on my and my mentor's technical analysis. it is for educational purpose, not a recommendation , so do your own research before investing.
WEST COAST PAPER (1D)
CMP 501.30
Stock is in Continuous down trend
Given breakout of falling trendline
Can give good Returns for Short Term
One can trade for Swing trade
West Coast paper looking good with increasing volume above 507
Sl 455
NOTE: POSTS HERE ARE BASED ON MY RESEARCH AND ARE FOR EDUCATIONAL PURPOSES ONLY.
PLEASE CONSULT YOUR FINANCIAL ADVISOR
BEFORE BUYING OR SELLING.
Hi @bhikhu65
As of now looking in downtrend Made a Double Top and fell from there Price gets retraced and find its rejection Zone/Supply Zone , Rest I can see one gap is there and made support and resistance for you bigger picture will clear above and below only.
123 reversal setup is a basic on-chart formation, that warns about upcoming trend...
The stock is trading in between a descending triangle like formation.
Expecting price to drop till 470.
As of now, I don't find any opportunity and will look to initiate buys only at 470 support area.
In case if you are holding the stock, you may keep holding till 470.
If weekly closes below 470, it would be better to exit the stock.
West coast paper limited has given returns in few previous days and given breakout, but after retest failed to bounce back,
Right now it is taking support on trendline, if bounce back with volume, we can see good returns
WSTCSTPAPR NSE is bullish if 389 holds. NEW 52WEEK High. Fresh Breakout. Positive Trend.
Disclaimer: Educational Purpose Only. Not Buy Sell Reco. Not Sebi Registered.
