Short Marico, target Rs 210: Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "A bit of a movement on Marico but then there was a weakness in the offing and we saw it coming through the relative indicators; the RSI gave a negative divergence. So somewhere we were not confident as and when it happens but yesterday’s dark out cover pattern which had happened on daily scale was well is enough to give us confidence to go short on it. We are keeping a stop loss close to Rs 235, initial targets are at least at Rs 210 and this view could pan out in about a week or so."At 10:09 hrs Marico was quoting at Rs 224.50, down Rs 2.00, or 0.88 percent. It has touched an intraday high of Rs 225.30 and an intraday low of Rs 224.00.