NeeteshJain

GM Breweries - Breakout after 100 Weeks

Long
NSE:GMBREW   GM BREWERIES
It has been observed that the price action breaks above strong resistance level of 500 level and also a consolidation over 100 weeks (700 days), indicating a sustainable strong movement ahead. Another big news in market that promoted this breakout is the initiating plans of "online alcohol delivery" in selected states. This may increase the revenue and growth of major liquor companies that will give potential hike in their market pricing and stocks.

Target - 750
T2 - 950
SL - 440
Comment: Good Start - 8% up
Comment: Adds another 10%, keep holding

Comments

sir great , turned out to be very much fruitful.
God bless us.
+2 Reply
NeeteshJain AnshulJAIN_
@AnshulJAIN_, Best wishes to you as well
+3 Reply
MACD looks saturated.. going to break out.. thanks.. great insight
+1 Reply
sir reliance please your views
+1 Reply
Nice setup with study
+1 Reply
Nice breakout indeed. Got to revisit after Earnings declaration and whether the up move sustains. Cheers
+1 Reply
nice sir....jain jinendra......
ntpc par level bataiye....request h
+1 Reply
@jainsumit225 sure, I shall update it shortly
Reply
NeeteshJain jainsumit225
@jainsumit225, Keep holding NTPC with SL 105, Target 125
+1 Reply
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