Ichimoku Indian Stock Trade of the Week 9-16-13 : I T C Ltd. Buy

On Sept. 18, 2013, we received an Ichimoku 4 multiple time frame Buy email alert on I T C Ltd. for the Indian Stock market.   The email is shown below.

There had been a consolidation pattern since last few days and the stock was looking to break on either side. 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 as there was a support of the trade by an email alert.    The entry was at Rs 317.86.  Initial stop of Rs 305.98 and a target of Rs 354.56 was set.   That gave us a  risk of Rs 11.88 per share. The trade was exited out with a profit of Rs 36.70 per share.   There was a Risk : reward of 1 : 3.1.    Here is the chart setup:

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About the Author Vinesh Midha