Ichimoku Indian Stock Trade of the Week 10-14-13 : I T C LIMITED Buy

On Oct. 14, 2013, we received an Ichimoku 3 multiple time frame Buy email alert on I T C Limited 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 341.41.  Initial stop of Rs 337.35 and a target of Rs 354.32 was set.  That gave us a  risk of Rs. 4.06 per share. 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 trade was exited, based on proprietary ichimoku system, with a profit of Rs 12.91 per share.   There was a Risk : Reward of 1 : 3.2.    Here is the chart setup:

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About the Author Vinesh Midha