Ichimoku Indian Stock Trade of the Week 10-07-13 : GUJARAT MINERAL DEVELOPMENT CORP. Buy

On Oct. 05, 2013, at the end of the trading session, we received an Ichimoku 3 multiple time frame Buy email alert on GUJARAT MINERAL DEVELOPMENT CORP. for the Indian Stock market.   The email is shown below.

There was an email alert 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 146.45.  Initial stop of Rs 143.69 and a target of Rs 159.46 was set.  As soon as the price started to move in the direction of the trade, a trailing stop method was applied based on proprietary Ichimoku Strategy. The current stop has been marked at Rs. 151.77. If the price falls from here, there is a sure locked in profit of Rs. 5.32 per share. If the profit continues, as anticipated, the trade will be  exited on the target, which has been set up based on proprietary ichimoku strategy. Here is the chart setup:

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About the Author Vinesh Midha