ArcherDAVIS

MARICO SHORT

Short
NSE:MARICO   MARICO LTD
I have a negative bias on the FMCG sector this week. Marico has been in a strong uptrend on the 15 min chart, using the 200 Bollinger Bands , its visible how the price is moving very very close to the upper end of the Bollinger range.

The strategy is to capture the decline from the current highs. The previous high is the first target at 351 and second target at 346 slightly below it.

Short at CMP .
SL:360.85
T1:351
T2:346.

Risk Reward - 2.7:1
Trade closed: target reached: T2 was triggered in the first candle of the day.