Ichimoku Indian Stock Pullback Trade for the Week ending March 25, 2016: INFOSYS LIMITED, BUY

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On March 15, 2016, we received an Ichimoku Bullish Pullback opportunity to take a Trade on INFOSYS LIMITED Stocks. The opportunity was for a bullish pullback on a very strong Multiple Time Frame Support.  As soon as the price hit the Support, it had a strong momentum supporting it. There was an ideal opportunity to take a pullback trade. The entry was at Rs 1130.58, Initial stop of Rs 1123.78 and a Preserve Mode of Rs 1197.57 was set. That gave us a risk of Rs 6.80 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 66.99 per share. This trade gave a Risk to Reward Ratio of 1: 9.86. Here is the chart setup:

03_15_2016_PB_Infosys 1

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