West Coast Paper Mills

Weekly Close Above the 2024 High 📈 **Timeframe:** Weekly | **CMP:** ₹840.00 (+15.44% on the week) ## The setup After a long downtrend from the 2024 highs, West Coast Paper Mills found a floor at **₹376.85** in early 2025 and retested it in early 2026 without breaking it. That double bottom began a steady, orderly uptrend, with higher highs and higher lows through 2026. This week's candle ran **₹730 → ₹978.05** and closed at **₹840.00**, a gain of over 15%. The stock has now closed above the **₹809.65** resistance, the 2024 swing high. ## What I'm watching - **Resistance turned support: ₹809.65.** The weekly close above this level is the breakout. Ideally, price retests it and holds. - **The wick:** The high of ₹978.05 was rejected hard, leaving a long upper shadow. Some profit-booking at the top is visible, so a retest is more likely than a straight-line move. - **Support: ₹730-770.** This is the open of the week and the area of the recent consolidation. A weekly close back below ₹809.65 would put the breakout in question. - **Major base: ₹376.85.** The double-bottom floor. ## Measured move The range height from ₹376.85 to ₹809.65 is about **₹432.80**. Projecting it up from the breakout level gives a theoretical target near **₹1,240**. This is a projection based on pattern geometry, not a guarantee. ## Scenarios - **Bullish:** The stock holds above ₹809.65 on a weekly closing basis, retests it as support and resumes the uptrend toward ₹1,000 and then the ₹1,200+ zone. - **Cautious:** A weekly close back under ₹809.65 turns this into a failed breakout or bull trap, with ₹730 and then the ₹600s as the next supports. ## Notes The stock is up more than 120% from the lows, so it is extended. A retest of the breakout zone usually offers a better risk/reward than chasing strength. Paper is a cyclical sector tied to pulp costs, demand and import competition, so track fundamentals and quarterly results alongside the chart. *This is my personal technical view for educational purposes, not investment advice. Do your own research and manage your risk.* **What do you think: sustained breakout or a bull trap? Share your views below 👇** #WSTCSTPAPR #WestCoastPaper #NSE #PaperStocks #Breakout #PriceAction #TechnicalAnalysis #SwingTrading ---