September 29, 2025

Hold on tight, investors! Trump’s sudden 100% tariff on pharma stocks and a hike in H-1B visa fees have sent the Indian stock market spinning. The Nifty, India’s stock market benchmark, broke a strong 3-week winning streak and slipped lower. This means even the usually steady pharma and IT sectors got nervous. Anand James from Geojit Investments says, “Laurus Labs has signaled a topping pattern,” while Wockhardt is stuck in a confusing, sideways movement. Both may face wider swings and pain ahead. Experts say October usually brings good gains for Nifty, but the last two years were disappointing. The recent seven-day slide looks scary, similar to a tough market phase from late 2024 to early 2025. Still, some indicators show Nifty could bounce or move sideways early next week. Yet, new barriers from the recent fall may block big rallies. Nifty IT took a big hit last week, dropping about 8%. It failed to push past resistance at 39,075 and broke key supports, showing a clear downtrend. Nearly 80% of options traders bet on further drops, especially in giants like TCS, Infosys, HCLTech, Wipro, and Tech Mahindra. A short-term bounce is possible, but strong selling may push prices down to 33,080 or even 31,100. Meanwhile, Tata Investment Corporation surprised some by rising even as the market dipped. The stock is in an upward trend and might reach a medium-term target of 10,400. However, near-term gains could pause around 8,890, with support levels at 8,450 and 8,200. What about pharma? The big news is the new Trump tariff, which is a pain point for many companies. Laurus Labs likely formed a 'topping' sign just before falling sharply. Wockhardt remains stuck in a tight range but started its slide from the month's peak. Both stocks fell below their normal trading bands, suggesting big swings ahead. Looking toward smart plays, Tata Motors (currently ₹672) showed promising signs. After a week of falling, it formed a double Doji pattern hinting at a turnaround. Experts project a rise to ₹695 with a stop loss at ₹658. VTL (currently ₹417) also looks ready to climb after forming a bullish Pinbar Doji and breaking key resistance levels. Expect a climb to ₹432, with a stop loss at ₹407. So what’s the takeaway? With Trump’s tariffs shaking the market, traders should stay alert and trade carefully. Pharma and IT stocks face tough times, but some like Tata Motors and VTL could spark a fresh bull run. As always, watch the charts and keep your stop losses tight! (Disclaimer: The views expressed are solely those of the experts and do not represent The Economic Times.)

Read More at Economictimes →

Tags: Nifty, Pharma stocks, It stocks, Trump tariff, Tata motors, Stock market,