'Strides Arcolab is one stock to watch out for'

Jitendra Mehta, Technical Analyst, Edelweiss, spoke to ET Now on mid-cap, small-cap pharma stocks. Excerpts:

We have talked a few days back and we have talked on some of these mid-cap pharma stocks the likes of a Strides Arcolab for that matter or a Piramal Lifescience, we have not talked about it, it has given stupendous returns over the last 2-3 days, then has probably succumbed to a bit of profit booking. Would you increase exposure or take fresh exposure to any of these mid-cap, small-cap pharma stocks, forget a Dr. Reddy's or a Sun Pharma, mid-cap and small cap, anything you like there?

Yes, Strides Arcolab definitely, that's one stock to watch out for, it has just broken its previous high and is showing some strong strength at this price also. It can easily move up another 10-12% from these prices in no time.