Buy Sun Pharma, short HDFC: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Sun Pharma saw some buying coming back, in fact all pharmaceutical stocks saw some buying but Sun Pharma has been the most interesting one because after seeing lot of shorts being placed, we have seen finally a day where longs have come back in the stock. Ppen interest (OI) went up 8-8.5 percent and the premium to future cash also went up. Importantly, we have kept a very tight stop loss because the stock has disappointed sometimes after showing a buy for a day. So Rs 743 is what we have kept as a stop loss but we feel that the stock is heading with more conviction this time towards Rs 790-800 zone. So traders can take a bet on Sun Pharma.""HDFC on the other hand has been slightly disappointing to us because the stock has failed to cross Rs 1,200 on a number of occasions. Every time it tries to go to Rs 1,190-1,200, we are seeing fresh shorts being pressed into and that happened on Friday again. We feel that the next strong support for HDFC is around Rs 1,135-1,140 mark, so the stock will slowly go ahead and test that. If there is a gap up today, that will give good opportunity to go short keeping a tight stop loss of Rs 1,200. I think Rs 1,140-1,135 is the zone where HDFC will test strong support," he said.