Ichimoku Indian Stock Trade of the Week 10-13-2014 : GRASIM INDUSTRIES LIMITED, SELL

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On October 10, 2014, we received an Ichimoku 3 multiple time frame sell email alert on Grasim Industries Limited for the Indian Stock Market. The email is shown below:10_10_2014_3_I

The email alert was for a break out of the stock on the bearish side. This breakout setup was emailed through the automated email alert system, as shown above. As soon as the price broke on the bearish side, it had a strong momentum supporting it.    There was an ideal opportunity to take a break out trade.    The entry was at Rs 3400.06, Initial stop of Rs 3434.12 and a preserve mode of Rs 3239.99 was set.  That gave us a risk of Rs 34.06 per share. The Entry, Initial Stop and the Target were based on proprietary chimoku 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 160.07 Per Share. This trade gave a Risk to Reward Ratio of 1: 4.70. Here is the chart setup:

10_13_2014_Grasim 1

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

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