Here's why Vinay Rajani is bullish on KIMS, Pfizer; bearish on Nifty

On the broader market outlook, the technical analyst from HDFC Securities says that the indicators and oscillators have turned bearish on the short term charts for the Nifty 50.

Nifty View

The Nifty fell for the third consecutive session, to close below 17,000 mark. The Nifty has reached near its 200-day EMA, placed at 16,900 odd level. Indicators and oscillators have turned bearish on the short term charts. 

Below 16,900, the Nifty could drag towards next supports of 16,750 and 16,600. Resistance for Nifty has shifted down to 17,300 level. 

BUY

Krishna Institute of Medical Sciences (KIMS)

Last close: Rs 1,466

Targets: Rs 1670; Rs 1,770

Stop Loss: Rs 1,350

The stock price has been finding support at its 30-day EMA and has bounced back from there after giving a "Flag" pattern breakout on the daily chart.