WEEKLY TRENDSETTER ( OCT 3,2025)
| 2025 | SEPT 19 | SEPT 26 | Ch % |
| NIFTY | 25327 | 24654 | -2.66 |
| BANK NIFTY | 55459 | 54389 | -1.93 |
| USD/INR | 88.10 | 88.72 | 0.70 |
MARKET REVIEW-The market saw a sharp reversal right from the beginning of the week. To add to the woes Trump inflicted another blow to the pharma industry. Going into expiry next week, sentiment looks weak. Buying support should ideally emerge around 24500 levels in the near term.
INTERESTING CUES
Trump imposes 100 % tariff on imported branded or patented pharma products
US import statistics from 2024 indicate total pharmaceutical imports valued at $212.82bn, with India contributing $12.73bn, equivalent to 5.98%. In comparison, Ireland led with $50.35 bn (23.66%), followed by Switzerland at $19.03 bn (8.94%) and Germany at $17.24 bn. Early indications are that Indian low-cost generic exports should not be affected much. However, the European nations could see a higher impact. The tariff will however not be applicable if it is produced within US or even if the facilities are being set up.
US imposes $1 lac fees on H-1B visa
Early last week the above decision sent shock waves to the IT industry as India will be worst affected by the decision. However, NASSCOM’s assessment is that the impact on Indian IT companies would be minimal as H-1B visas depenance has reduced from 14800 in 2015 to 10160 in 2024.The Indian companies are resorting to local hiring in the US.
NIFTY –The index which looked promisingly poised till last week gave up most of the gains as relentless selling pressure pushed the index below 24800.The closing was far below that at 24654 which will provide less solace to the bulls. Monthly expiry is due on Tues and any short covering rally will be seen with skepticism. Upside looks capped at 24900-25000 and support of 24400 becomes very critical.
BANK NIFTY-The index fared no better as it closed below 54500 which pushes it into the brink and looks heading for the 200 -dma at 53200.The coming week could see a range of 53500 -54900.
STOCK PICKS
DLF (715)-The stock has seen significant long unwinding and shorts and has cracked below the 200-dma of 770.In the near term it looks oversold. However, levels of 730-40 could see selling pressure emerging. The stock could head towards 675 -80 in the coming weeks.
M&M Finance (280)-The stock has broadly been an outperformer in the recent weeks. It has been facing resistance at around 290 on several occasions. Levels of 275-80 should be ideal for accumulation for a possible target of 300 in the coming weeks.
Wishing all readers a great week ahead!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam