MTF Stock Pick Buy West Coast Paper Mills Ltd For Target Rs. 270 - HDFC Securities
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MTF Stock Pick Buy West Coast Paper Mills Ltd For Target Rs. 270 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached daily timeframe chart of West coast paper which is in uptrend from last several sessions.
We observe a formation of bullish pattern on daily and weekly time frame.
The stock is continuously trading above 21 EMA from last 8 sessions and filled the down gap which was created on 12th April suggesting bullishness for the stock.
Momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks.
The overall chart pattern of Westcoast Paper indicates long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy West Coast Paper Mills Ltd Up to 3 months @ Add on dips 200 CMP 221 TGT 270 SL 194
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