Buy Tata Chem, United Phos; sell Indiabulls Real: Malkan

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

Tata Chemicals is moving into a tight range of Rs 230 and Rs 250 since last few days. It has shown some good volumes on intraday charts in last couple of days showing a sign of breakout on the upside. I have a buy call for the day with a stoploss of Rs 247 for targets of Rs 254.

After a steep rally United Phosphorous was consolidating between Rs 150 and Rs 160 since last couple of days and gave a breakout yesterday with good volumes on daily as well as intraday charts. Momentum entered into bullish zone but today I have a buy call with a stoploss of Rs 153 for targets of Rs 161.

Punj Lloyd has broken an important resistance of Rs 25 and has been sustaining above that since last one week and intraday volumes are showing good signs on the upside. Momentum has entered into a bullish zone. I recommend a buy with a stoploss of Rs 25.75 for targets of Rs 27.50.

One may sell Indiabulls Real Estate October Futures. It has formed a couple of bearish candlestick pattern on daily chart showing that Rs 62 to Rs 65 is a strong resistance. I expect it to correct back to Rs 55 levels in the next few sessions and for the day I have a stoploss of Rs 62 for target of Rs 59.