On February 10, 2016, we received an Ichimoku Bearish Pullback opportunity to take a Trade on INDRAPRASTHA GAS LIMITED Stocks. The opportunity was for a bearish pull back on a very strong resistance. As soon as the price hit the resistance, it had a strong momentum supporting it. There was an ideal opportunity to take a pullback trade. The entry was at Rs 546.31, Initial stop of Rs 549.73 and a Preserve Mode of Rs 515.68 was set. That gave us a risk of Rs 3.42 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 30.63 per share. This trade gave a Risk to Reward Ratio of 1: 8.96. Here is the chart setup:
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