Page 4 - 1797_Value Plus Aug 2016
P. 4
technical
pick
West Coast Paper Mills Ltd Buy West Coast Paper Mills Limited is engaged in
CMP: `95 (As on 02nd Aug, 2016) manufacturing paper, paper boards, and duplex boards
Buy: `95-88 in India. The company operates through two segments,
Target Price: `104-122-124 Paper/Paperboard and Telecommunication Cables. Its
Stop-Loss: `83 product portfolio includes writing, printing, business
stationery, specialty, industrial and packaging paper
West Coast Paper Mills Ltd products. The company also provides MICR cheque,
parchment, azure laid, and alkali-resistant papers, as well
as a range of colored papers and boards; and single and
double coated boards that are used in pharmaceutical,
apparel, match box, cigarette, liquid packaging, food
packaging, and various other packaging applications.
In addition, it is involved in the production and sale of
optical fiber cables; and generation of wind power with
a capacity of 1.75 MW wind mill located in Tamilnadu,
India. The company exports its products to Malaysia,
Egypt, Middle East, Kenya, Indonesia, Fiji, Mauritius and
Greece, amongst others.
Technical Outlook:
On the weekly chart, we are observing that on 16th July
2016 the prices made a high of 95.45 and almost gave a
rounding bottom breakout with high volumes. Further, the
RSI oscillator is gaining momentum. This suggests that the
up move is likely to continue.
Hence we recommend one to buy this stock at Rs 95 or
on a decline up to Rs 88 with a stop loss of Rs 83 for a
target of Rs 104-112-124 levels.
4 ARIHANT CAPITAL ยก AUGUST 2016
