Ichimoku Indian Stock Pullback Trade for the Week ending Feb. 12, 2016: PUNJ LLOYD, SELL

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  • Ichimoku Indian Stock Pullback Trade for the Week ending Feb. 12, 2016: PUNJ LLOYD, SELL

On February 02, 2016, we received an Ichimoku Bearish Pullback opportunity to take a Trade on Punj Lloyd Stocks. The opportunity was for a bearish pull back on a very strong resistance.  As soon as the price hit the resistance, it had a strong momentum supporting it. There was an ideal opportunity to take a pullback trade. The entry was at Rs 24.75, Initial stop of Rs 24.91 and a Preserve Mode of Rs 21.83 was set. That gave us a risk of Rs 0.16 per share. The Entry, Initial Stop and the Preserve Mode were based on proprietary ichimoku strategy. As soon as the price started to move in the direction of the trade, a trailing stop method was applied, again based on proprietary ichimoku strategy. The price hit the anticipated preserve mode and the trade exited, giving us a profit of Rs 2.92 per share. This trade gave a Risk to Reward Ratio of 1: 18.25. Here is the chart setup:

02_03_2016_PunjLloyd 1

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