Not able to sustain above 100 DMA from last few months. I think time has come now.

1. Volumes are getting increased.

2. Frequently trying to close above 100DMA.

3. I am expecting excellent quarter results because, other ethanol manufacturing company like Gulshan Poly posted good profits from ethanol segment expecting same for Globus Spirits.

4. Liquor sales will be good because of festival season.

5. Upcoming results also should be great. Barley prices have come down,it will improve margins. Mainly because of election season automatically liquor sales will be great.

6. August onwards will get fresh ethanol orders from oil manufacturing companies (OMC) as they said earlier

I am expecting this stock should touch atleast 880-900 range by end of June 2024. I guess price wise correction and timewise correction over in this counter. Note: Not recommendation, just it is my analysis.

Analyst:- P. Vijay Kumar (Not SEBI Registered)