West Coast Paper for 100% riseWest Coast Paper Mills is currently India’s 3rd largest paper and paperboard manufacturing company which also owns (72.3% in) Andhra Paper, another listed paper manufacturer. West Coast has revenues of 4200 cr and market cap of 3900 cr. Its ownership in Andhra Paper itself is worth 1500 cr presently. So all of WCPML is available at a valuation of 2400 cr. Can it double from current levels (588)? The chart says it all.
The stock is in the final stages of large wave IV that began in October ‘23. There is a possibility of one final move down towards 525-540 levels if there is one. Wave V can very well take it to 1000-1200 levels which can be worked out later after further moves. Can these levels be achieved in a year or less?
First target of course is ATH of around 800.
Paperstocks
Long Setup in TNPLAn On Neck Chart Pattern Breakout happened on the weekly Time frame of NSE:TNPL
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned.
Stop loss will be on weekly closing basis.
Trend Analysis :- UP Trend
Chart Pattern :- On-Neck Chart Pattern
Technical Indicator :- Positive MACD Crossover
JK PAPER - 40% RETURNSBUY - JK PAPER
CMP - Rs. 384
Target - 1: Rs. 407
Target - 2: Rs. 464
Target - 3: Rs. 532
.
.
Technicals - 1) Stock is at Support in a range-bound market(short term)
2) Harmonic Pattern - Navarro 200
.
Comment: 1) Historical performance indicates price will consolidate before reaching Target - 3
2) This means that Target - 1 and 2 will be achieved in short term, while Target - 3 will be achieved in long term.
.
.
Follow me for more!