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G M BREWERIES LTDG M BREWERIES LTDG M BREWERIES LTD

G M BREWERIES LTD

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GMBREW trade ideas

GM BREWERIES - TECHNICALS plus FUNDAMENTALS - A STOCK TO INVESTINVESTMENT PICK of the year -- MONTHLY TIME FRAME BREAKOUT 🚀🚀 TECHNICAL VIEW Overall view - - Technically this stock has given a shiny breakout in Monthly Time Frame of downward sloping trendline which suggest the stock have more potential and more bias upside. Again, As per Elliot Wave theory, the stock has entered the 3rd wave which is the momentum wave in monthly timeframe. KEY POINTS (TECHNICALS) - Stock is trading All Time High - It has given breakout in monthly time frame with power pack intensity of volume - RSI (relative strength index) is above 70 in monthly as well as in weekly time frame which give momentum to the stock - Price challenging upper Bollinger band which indicated the initiation of wave 3rd LET'S TALK ABOUT FUNDAMENTALS - Company's profit and sales are in increasing order 📈 - Company is fully debt free which gives an extra edge to company's growth - Promoter's holding is 74% which is actually very good - FII has increased its stake in last quarter - Company's Price to Earning ratio (P/E ratio) is just around 13.9 to 14 compared to industry PE which is around 32, that indicated that the company is doing great in the industry and have more potential to grow in this industry SOURCE- SCREENER.in and ticker finology Conclusion The stock is having bullish bias in long term as well as in short term analysing both - Fundamentally plus Technically, it can give us targets of 1300-1400 in long term, buying and averaging will be between 850 to 750 Disclaimer I am not SEBI registered. consult your financial advisor before any kind of investment. All the studies and ideas posted here are for educational purpose. THANK YOU KARANN DINGRA 💰
NSE:GMBREWLong
by KARANN_DINGRA
8
GM Breweries - Breakout of 18 months consolidation above 480Price has tested 470-480 multiple times in the past 18 months and is currently in the consolidation phase / sideways Volume activity has been dry for few weeks which indicates either no interest in counter or silent accumulation. I am inclined towards silent accumulation as delivery percentage has been higher than average in the last week and significantly higher on the last effort to breakout day (yellow arrow). For delivery percentages, you can refer to the link provided below. Entry strategy can be either of the two 1. Enter at current levels with addition to dips near last swing low of 400 and wait for breakout OR 2. Enter on breakout and add again near pullback to breakout zone of 475/480. Targets highlighted with blue rays. Please note the idea published is on weekly timeframe. Note: I am not registered with any financial authority in India and please do no construe the above comment as an investment advisory/ financial advise. I would request you to kindly do your own research or speak to your trusted (and registered) financial advisor for any action.
NSE:GMBREWLong
by AM_Trader47
1