Ichimoku Indian Stock Trade of the Week 9-10-13 : Bombay Dyeing & Mfg. Co. Ltd. Buy

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  • Ichimoku Indian Stock Trade of the Week 9-10-13 : Bombay Dyeing & Mfg. Co. Ltd. Buy

On Sept. 10, 2013, we received an Ichimoku 3 multiple time frame Buy email alert on Bombay Dyeing & Mfg. Co. Ltd. for the Indian Stock market.   The email is shown below.


There had been a consolidation pattern since last few days and the stock was looking to break on either side. As soon as the price broke on the bullish side, it had a strong momentum on its side.    There was an ideal opportunity to take a break out trade as there was a support of the trade by an email alert.    The entry was at Rs 48.07.  Initial stop of Rs 45.40, and a target of Rs 55.41 was set.   That gave us a  risk of Rs 2.67 per share. The trade was exited out with a profit of Rs 7.34 per share.   There was a Risk : reward of 1 : 2.75.    Here is the chart setup:


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