Sreehari -- Don't tack on a new question to an old thread. Start a new one.
And you can anonymize your data. I think people who will want to help you are going to ask for a workbook. Check out this thread:
Branched this thread
This could probably be solved with an if statement.
IF Profit % < Profit Parameter AND discount % > Discount Parameter THEN 'red'
Then once you drag that to your colors in the marks area, you'll be able to choose your colors.