Ichimoku Indian Stock Trade of the Week 12-30-2013 : INDIAN OVERSEAS BANK, Buy

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On Dec. 31, 2013, we received an Ichimoku 3 multiple time frame buy email alert on Indian Overseas Bank for the Indian Stock Market. The email is shown below:
12_31_2013_3 IThe email alert was for a break out of the stock on the bullish side. This breakout setup was emailed through the automated email alert system, as shown above. As soon as the price broke on the bullish side, it had a strong momentum supporting it.    There was an ideal opportunity to take a break out trade.    The entry was at Rs 51.99, Initial stop of Rs 51.25 and a target of Rs 53.73 was set.  That gave us a  risk of Rs. 0.74 per share. The Entry, Initial Stop and the Target was 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 target, giving us a profit of Rs 1.74. Per Share. This trade gave a Risk to Reward Ratio of 1 : 2.35. Here is the chart setup:
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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