📊 Cup & Handle Breakout on JK Paper – Strong Momentum Ahead

🔎 Technical Outlook Pattern Formation: The chart is forming a classic Cup & Handle breakout near ₹430–₹440 levels, a bullish continuation setup. Elliott Wave Structure: Current price action suggests completion of Wave 2 consolidation, with Wave 3 rally likely to unfold, targeting higher zones. MACD Divergence: Positive divergence observed – while price was consolidating, MACD momentum was strengthening, indicating hidden accumulation. AVWAP Reference: The anchored VWAP from the last major swing low shows price comfortably trading above, confirming supportive institutional buying. 🏦 Fundamental Strength Consistent Profit Growth: JK Paper has a strong record of profitability and efficient capital allocation. High ROCE & Low Debt: Healthy return ratios and disciplined balance sheet make it a stable long-term play. Sector Advantage: Demand revival in packaging & writing paper segments provides further growth visibility. 📈 Summary JK Paper is showing a high-probability bullish breakout from the Cup & Handle formation. With Wave 3 potentially unfolding and strong fundamentals backing the setup, the stock could see a sustained rally if it holds above ₹430 levels.