Strides Arcolab may test Rs 1150-1200: Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "I have been optimistic on pharma for a long time now because some of the stocks like Aurobindo Pharma, Dishman Pharma and Lupin have been showing some very good returns and very good chart patterns as well. Strides Arcolab is one of the few stocks which is now showing some very good signs not just from a short term perspective but from a long term perspective with a rounding bottom formation and inverse head and shoulder. The ingredients are absolutely perfect for Strides Acrolab to start very strong fresh uptrend."

"From a medium terms basis I would probably place a target of very close to Rs 1,150-1,200 but from a long term basis I wouldn't be surprised to see the stock at Rs 1,400 plus as well. Keep a trading stop loss of Rs 1,020 on Strides Arcolab," he added.