This small-cap paper stock soared over 12 per cent today! Do you own this trendy stock?

Considering the extreme bullishness, the stock can test the levels of Rs 105 in the short term, followed by Rs 108.

Yash Pakka Limited is a manufacturer of paper and paper products. It has a market capitalisation of Rs 365 crore. Recently, the company reported strong growth in its March quarter and showed optimistic business opportunities.   

The stock of Yash Pakka Ltd has seen a strong buying interest on July 4 (Monday) and is up by over 12 per cent. The volume recorded has been huge and is greater than the 10-day, 30-day, and 50-day average volume. Interestingly, this volume is over 6 times its previous day’s volume. On the technical chart, the stock witnessed a strong breakout from its falling trendline and has hit the day’s high at Rs 98.65 level. Also, it is up by nearly 50 per cent from its prior swing low of Rs 66 level in just 11 trading sessions.   

Along with its bullish price structure, the technical parameters also indicate strong strength in the stock. The 14-period daily RSI (72.86) is in a super bullish zone. The MACD histogram is rising sharply, indicating a stronger uptrend. The OBV is at its peak and demonstrates strong strength from the volume’s perspective. In a nutshell, the stock is quite attractive among traders.   

Considering the extreme bullishness, the stock can test the levels of Rs 105 in the short term, followed by Rs 108. However, profit-booking can take the stock to sub Rs 94 levels. Traders can include this stock in their watchlist as it can provide several trading opportunities in the upcoming days.