PFIZER LTDShort
Pfizer Ltd. - Short Position Analysis
Chart Overview:
The chart indicates that the stock is in a clear downtrend, following a descending channel pattern. The price is nearing a key horizontal support level (marked in black), and a breakdown below this level may present a shorting opportunity.
Trade Setup for Short Position:
1.Entry Trigger: Below ₹5,028 on a daily closing basis.
2.Targets:
3.Stop Loss: Above ₹5,187 (recent swing high and red-dotted resistance level).
4.Risk-Reward Ratio: Ensure a favorable ratio of at least 1:2.
Alternate Scenario:
If ₹5,028 holds as support, the stock might see a pullback toward ₹5,187, where selling pressure could resume.
The chart indicates that the stock is in a clear downtrend, following a descending channel pattern. The price is nearing a key horizontal support level (marked in black), and a breakdown below this level may present a shorting opportunity.
Trade Setup for Short Position:
1.Entry Trigger: Below ₹5,028 on a daily closing basis.
2.Targets:
- Target 1: ₹4,885 (first demand zone).
- Target 2: ₹4,760 (strong support and lower boundary of the descending channel).
3.Stop Loss: Above ₹5,187 (recent swing high and red-dotted resistance level).
4.Risk-Reward Ratio: Ensure a favorable ratio of at least 1:2.
Alternate Scenario:
If ₹5,028 holds as support, the stock might see a pullback toward ₹5,187, where selling pressure could resume.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.