There was an signal to go SHORT on INDIAN OVERSEAS BANK’s stock. The Entry was at Rs.67.41 and the Initial Stop for the trade was Rs.68.60. A risk of Rs.1.19 per share. The price was being trailed based on proprietary Ichimoku system as the price started to move down in the favour of the trade. The stop got hit at Rs.62.25 on a retracement of the price after a substantial profit had been locked in. There was a profit of Rs.5.16 per share. The Risk to Reward ratio was 1 : 4.33.
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