Buy AstraZeneca, HDIL, short Dena Bank: SP Tulsian

In CNBC-TV18's popular show Bull's Eye, SP Tulsian of sptulsian.com shares his trading strategies for the day.

I have a buy call on AstraZeneca Pharma with a day target of Rs 860 and stop loss of Rs 790. I am continuing this buy call which I gave yesterday because the share seems to be in the strong bull grip after its success offer for sale (OFS) and post value buying in the stock and as such the MNC pharmaceutical stocks seems to have come back on the focus of the investors and hence a buy call.
I have a buy call on Housing Development and Infrastructure (HDIL) with a day target of Rs 50 and stop loss of Rs 47.50. The company now having posted a net loss of Rs 280 crore for Q4 is because a provision or an exceptional item of Rs 442 crore has been provided by the company for their Mumbai project and because of that this loss has come. But if we see the EBITDA, the EBITDA is at Rs 260 crore for Q4, which is to be seen quite positive for this company and inline with the consistent performance having posted by the company for the previous three quarters and on analysis of these results the market is going to like this and renewed buying is likely to get resume.
I have a short call on Union Bank of India with a day target of Rs 218 and stop loss of Rs 229. This midsized public sector undertaking (PSU) banking stock seems to be in pressure and the long positions having created in the last couple of weeks are seen getting liquidated ahead of expiry and this weak trend is likely to continue in the near term and hence a sell call.
I have a short call on Dena Bank with a day target of Rs 84 and stop loss of Rs 88. This is also midsized PSU bank which is seen under pressure where the longs are seen getting liquidated and the weakness is likely to continue for the day and hence a sell call.