Buy Union Bank, says Thukral

Buy Union Bank, says Hemant Thukral of Aditya Birla Money.

Thukral told CNBC-TV18, "I am buying Union Bank of India today and there are two reasons behind it. First what I saw yesterday was as I just suggested lot of shorts that were still pending were squeezed out and there are still some of the sub midcap PSU banks which has stumped short positions till open, something like a Dena Bank, Syndicate Bank and one of them is Union Bank which I feel there are still lot of shorts, which are there in the system."
He further added, "If Union Bank manages to hold today above Rs 206-207 mark I see some short covering coming in. So short term trading opportunity can be there. So traders can go long with a target of Rs 220-222 but again stop loss has to be maintained at Rs 207. Some sort of short covering I am expecting today in Union Bank."