I hate and abhor lying: but thy law do I love.
I hate and abhor lying - all that is false, deceitful, or self-deceiving (being contrary to thy law) in doctrine and in practice: all the world's vanities and cheats (note, Psalms 119:29).
But thy law do I love - as being the truth, without mixture of "lying" or error. "Thy law" is tile antithesis to "lying."