Buy Idea, Tata Global; sell REC, Syndicate Bank: Malkan

In CNBC-TV18's popular show Bull's Eye, Vishal Malkan of malkansview.com shares his trading strategies for the day.

One may buy Idea Cellular as the stock has been outperforming the markets in last four-five months and has been the best stock in the telecom sector trading at all time highs. I recommend a buy with a stop loss of Rs 163 for target of Rs 173.

One may buy Tata Global Beverage. The stock has been consolidating between Rs 150-125 for five months and broken above that range in last week showing some good momentum in volumes. I recommend a buy with a stop loss of Rs 155 and target of Rs 165.

One may sell Rural Electrification Corporation (REC) August Futures. It has broken an important support of Rs 180 on daily as well as weekly charts with huge volumes. Prices have started tagging the lower bollinger band on daily as well as weekly charts. Keep a stop loss of Rs 173 and target of Rs 163.

One may sell Syndicate Bank August Futures. Banking have been hammered in last couple of weeks and Syndicate Bank looks worst and has broken an important support of Rs 100 on daily and weekly charts. I recommend a sell with a stop loss of Rs 96.