INDIAN STOCK Ichimoku Trade of the Week: 09-02-13 MERCATOR Limited Long

This is the weekly trade for the Indian Stock Market. We received an Email Alert on September 04, 2013 for a 3 time frame Buy / Sell opportunity.

There was a signal to go LONG on MERCATOR LIMITED.’S stock. The Entry was at Rs 10.82 and the Initial Stop for the trade was Rs 10.37. A risk of Rs 0.45 per share. The Entry and the Target were set based on Proprietary Ichimoku Strategy. The price hit the entry point and started to move in the favour of the trade. As anticipated, the price hit the previous set target of Rs 12.72 thus giving us a profit of Rs 1.90 per share. A Risk : Reward ratio of 1 : 4.22 was achieved in this trade.

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About the Author Vinesh Midha