PL Technical Research: Buy JK PAPER LTD - Technical Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY JK PAPER CMP: 337 TRGT: 385 SL: 318 - TECHNICAL PICK - The stock has bottomed out near 310 level after the decent correction witnessed and gradually has picked up momentum to improve the bias. Currently with a positive bullish candle pattern in the daily chart has triggered a buy signal with strength indicated moving just above the 50EMA levels at 330 to further improve the trend. The RSI is also well placed and is on the rise with potential to carry on the momentum still further upside. We suggest to buy and accumulate this stock for an upside target of 385 keeping the stop loss near 318 level.