How to trade Nifty Auto, IT, Pharma as Trump threatens up to 25% tariffs

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How to trade Nifty Auto, IT, Pharma as Trump threatens up to 25% tariffs - Business Standard

Quick Summary:

Technical chart suggests that the Nifty Auto, IT and Pharma indices can potentially fall up to 22% from present levels if these key support levels are broken.

Trump said levies on automobiles would come as soon as April 2. READ: Share Market LIVE Updates Asked about similar levies on pharmaceutical drugs and semiconductor chips, the president said: "It'll be 25 per cent and higher, and it'll go very substantially higher over a course of a year." Trump said he wanted to give companies "time to come in" before announcing new import taxes.

Chart suggests that the near-term bias is likely to remain positive as long as the index holds above 40,500 levels; below which strong support for the index exists at 39,975.