GM BREWERIES - TECHNICALS plus FUNDAMENTALS - A STOCK TO INVEST
INVESTMENT 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
https://www.tradingview.com/x/7UbypQXG/
- RSI (relative strength index) is above 70 in monthly as well as in weekly time frame which give momentum to the stock
https://www.tradingview.com/x/1cnwMsDs/
- 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💰
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
https://www.tradingview.com/x/7UbypQXG/
- RSI (relative strength index) is above 70 in monthly as well as in weekly time frame which give momentum to the stock
https://www.tradingview.com/x/1cnwMsDs/
- 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💰
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