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Bears Take Position As New Tariffs Loom
Hindustan Times Thane
|April 01, 2025
Indian markets could open up to 1% lower on Tuesday after the Eid holiday, suggests weekly options data, as bears are likely to return ahead of US President Donald Trump's April 2 deadline for reciprocal tariffs.
MUMBAI:
Trump's comments on the weekend dragged South Korea's Kospi and Japan's Nikkei down by 3-4% on Monday, while Germany's Dax and France's CAC traded 1% lower at the time of writing.
Indian stock markets are likely to feel the pain on Tuesday, said analysts. Options data as of Friday indicates a range of close to 500 points from Friday's closing level of 23,519. The key support priced in by option traders was 23,263, with the resistance at 23,737.
A decisive break below 23,263 could result in the markets testing the 23.6% retracement level of 22,982, which squares with the weekly options' significant outstanding position build-up at the 23,000 put level.
This story is from the April 01, 2025 edition of Hindustan Times Thane.
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