Recent Breakdown seen on Daily and weekly chart. 550 is good psychological level to short, can enter into trade 30% at CMP also. Safe level is to Short below 535 ( Intraday setup)
For stop-loss in Intraday use 5 minute chart and see nearest resistance. for target use 5 min chart and fibonacci / pivots level Always try to book partially and trail. Stock may test upto 510-500 levels.
NOTE: For Gap-down or breakdown
If gapdown is more than 1% from breakdown level than avoid completely. if less than 1% or gives breakdown before 9:20 than wait for first 5 minute candle and entry below 5 minute candle and revised SL above candle high.