Ichimoku Indian Stock Pullback Trade for the Week ending March 18, 2016: UNITED SPIRITS LTD., SELL

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  • Ichimoku Indian Stock Pullback Trade for the Week ending March 18, 2016: UNITED SPIRITS LTD., SELL

On March 03, 2016, we received an Ichimoku Bearish Pullback opportunity to take a Trade on UNITED SPIRITS LTD. Stocks. The opportunity was for a bearish pullback on a very strong Multiple Time Frame 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 2522.85, Initial stop of Rs 2562.02 and a Preserve Mode of Rs 2292.32 was set. That gave us a risk of Rs 39.17 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 230.53 per share. This trade gave a Risk to Reward Ratio of 1: 5.89. Here is the chart setup:

03_03_2016_UnitdSprt_PB 1

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