The Marico stock has been depreciating since the beginning of October. It fell off the resistance at ₹700. The scrip continued to fall this week and broke below a support at ₹610 and also below the 200-day moving average. Broadly, the price action from August shows that the stock is gradually shifting its trend downwards. The prevailing price movement indicates that the probability of a fall from the current level is high. Particularly, given the current chart set-up, the likelihood of a decline on Thursday is high, providing us a good intraday short opportunity. Therefore, participants can go short on the stock of Marico at ₹600, with a stop-loss at ₹610. When the price falls to ₹585, revise the stop-loss to ₹600. Book profits at ₹575.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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