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
Trade closed: target reached: Target 1 completed, now closing to T2
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