West Coast Paper Mills Limited Stock Forecast

Strong day for West Coast Paper Mills Limited stock price on Friday rising 5.83% to ₹677.75
(Updated on Jun 14, 2024)

WSTCSTPAPR.NS Signals & Forecast

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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹623.93 and ₹630.45. 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 18.19%. 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

On the downside, the stock finds support just below today's level from accumulated volume at ₹616.50 and ₹593.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, West Coast Paper Mills Limited finds support just below today's level at ₹616.50. If this is broken, then the next support from accumulated volume will be at ₹593.90 and ₹573.45.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹60.95 between high and low, or 9.62%. For the last week, the stock has had daily average volatility of 4.87%.

Since the West Coast Paper Mills Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: ₹653.35 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (WSTCSTPAPR.NS) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect West Coast Paper Mills Limited to open at ₹668.70, and during the day (based on 14 day Average True Range), to move between ₹652.57 and ₹702.93, which gives a possible trading interval of +/-₹25.18 (+/-3.72%) 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 7.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹681.55 (0.56%) than the support at ₹616.50 (9.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is West Coast Paper Mills Limited stock A Buy?

West Coast Paper Mills Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for West Coast Paper Mills Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.