Ichimoku Indian Stock Pullback Trade for the Week ending Feb. 26, 2016: HINDUSTAN UNILEVER LTD., BUY

On February 16, 2016, we received an Ichimoku Bullish Pullback opportunity to take a Trade on HINDUSTAN UNILEVER LTD. Stocks. The opportunity was for a bullish pull back on a very strong Support.  As soon as the price hit the Support, it had a strong momentum supporting it. There was an ideal opportunity to take a pullback trade. The entry was at Rs 793.24, Initial stop of Rs 788.44 and a Preserve Mode of Rs 858.35 was set. That gave us a risk of Rs 4.80 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 65.11 per share. This trade gave a Risk to Reward Ratio of 1: 13.57. Here is the chart setup:

02_16_2016_HLever_PB_1

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About the Author Vinesh Midha