This is the weekly trade for the Indian Stock Market. We received an Email Alert on August 26, 2013 for a 3 time frame Buy / Sell opportunity.
There was a signal to go LONG on WIPRO LIMITED.’S stock. The Entry was at Rs 466.96 and the Initial Stop for the trade was Rs 458.48. A risk of Rs 8.48 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 493.80 thus giving us a profit of Rs 26.84 per share. A Risk : Reward ratio of 1 : 3.16 was achieved in this trade.
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