Ichimoku Indian Stock Trade of the Week 9-24-13 : NMDC Ltd. Buy

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On Sept. 24, 2013, we received an Ichimoku 4 multiple time frame Buy email alert on NDMC Ltd. for the Indian Stock market.   The email is shown below.

After a consolidation pattern, there was 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 123.40.  Initial stop of Rs 122.26 and a target of Rs 128.05 was set.   That gave us a  risk of Rs 1.14 per share. The trade was exited, based on proprietary ichimoku system, with a profit of Rs 4.65 per share.   There was a Risk : reward of 1 : 4.1.    Here is the chart setup:

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