West Coast Paper Mills Limited Stock Forecast
Strong day for West Coast Paper Mills Limited stock price on Tuesday rising 7.71% to ₹738.70
(Updated on Jul 02, 2024)
The West Coast Paper Mills Limited stock price gained 7.71% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹685.80 to ₹738.70. During the last trading day the stock fluctuated 9.98% from a day low at ₹685.10 to a day high of ₹753.50. The price has been going up and down for this period, and there has been a 4.77% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₹2.41 billion.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹712.44, a level that may pose a second chance to hit a runner. According to fan-theory ₹839.40 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WSTCSTPAPR.NS Signals & Forecast
Mostly positive signals in the chart today. The West Coast Paper Mills Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹692.04 and ₹642.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 28.82%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for West Coast Paper Mills Limited stock
West Coast Paper Mills Limited finds support from accumulated volume at ₹705.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹68.40 between high and low, or 9.98%. For the last week, the stock has had daily average volatility of 5.01%.
Our recommended stop-loss: ₹712.40 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (WSTCSTPAPR.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect West Coast Paper Mills Limited to open at ₹725.77, and during the day (based on 14 day Average True Range), to move between ₹709.71 and ₹767.69, which gives a possible trading interval of +/-₹28.99 (+/-3.92%) up or down from last closing price. If West Coast Paper Mills Limited takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹705.10, some ₹33.60 (4.55%) from the current price of ₹738.70, our system finds the risk reward attractive.
Is West Coast Paper Mills Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for West Coast Paper Mills Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.646 Strong Buy Candidate Upgraded
Predicted Opening Price for West Coast Paper Mills Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹725.77 ( 1.75%) | ₹738.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WSTCSTPAPR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 794.17 | 7.51% |
| R2 | 768.04 | 3.97% |
| R1 | 751.90 | 1.79% |
| Price | 738.70 | |
| S1 | 699.64 | -5.29% |
| S2 | 683.50 | -7.47% |
| S3 | 657.37 | -11.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 738.70 | |
| S1 | 705.10 | -4.55% |
| S2 | 693.00 | -6.19% |
| S3 | 677.75 | -8.25% |
WSTCSTPAPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 06, 2024 | Aug 06, 2024 | Sep 13, 2024 | ₹8.00 | 1.08% |
| 2 | Aug 09, 2023 | Aug 09, 2023 | Sep 15, 2023 | ₹10.00 | 1.46% |
| 3 | Aug 08, 2022 | Aug 08, 2022 | Aug 08, 2022 | ₹6.00 | 1.14% |
| 4 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹1.00 | 0.429% |
| 5 | Mar 19, 2020 | Mar 19, 2020 | Mar 19, 2020 | ₹5.00 | 3.53% |
FAQ
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