Maruti, Titan: View on stocks that may be impacted by US reciprocal tariffs

The US President Donald Trump has vowed to impose reciprocal tariffs on India and other countries from April 2, 2025 onwards. Here's a technical outlook on Indian stocks that may be impacted.

Shares of US-export centric companies in India are likely to be in focus in the near-term, after the US President Donald Trump reiterated likely imposition of reciprocals tariffs on countries including India with effect from April 02, 2025.  Addressing the Congress House, Donald Trump said India charges US auto tariffs higher than 100 per cent. Whatever other countries charge us; we shall charge them the same.  Trump also assured the Congress House of introducing a new trade policy which would be "great" for American farmers.  Announcing new tariffs on agricultural imports starting April 2, Trump said there might be "a little bit of an adjustment period" but assured farmers they would ultimately "have a field day."  Thus far in March, Trump imposed up to 25 per cent tariffs on goods from Canada and Mexico; and up to 20 per cent on imports from China.  According to India's EXIM data, India's export to the US stood at $77.52 billion for the financial year 2023-24; whereas, imports stood at $42.20 billion.    As per reports, diamonds and gold jewellery were among the largest exported goods followed by medical appliances & accessories and refined petroleum. That apart, automotive components, chemicals & petrochemicals and agricultural goods were the key sectoral exports to the US.  As such, here's a technical outlook on 5 stocks that could be impacted owing to reciprocal tariffs by the US.  Maruti Suzuki  Current Price: Rs 11,652  Upside Potential: 11.6%  Downside Risk: 7.3%  Support: Rs 11,700; Rs 11,350; Rs 11,125  Resistance: Rs 11,970, Rs 12,125, Rs 12,500  Unlike a majority of the stocks listed on the BSE and NSE, Maruti at present continues to exhibit a positive bias on the long-term chart, even as short-term indicators seem subdued. Technically, the overall outlook for Maruti is expected to remain positive as long as the stock holds above Rs 11,225 levels. On the upside, the stock can re-attempt a test of 13,000-mark. Interim resistance for the stock is placed at Rs 11,970, Rs 12,125, Rs 12,500 levels. CLICK HERE FOR THE CHART  On the downside, near support for the stock exists at Rs 11,700 and Rs 11,350 levels. Break of these support levels, could drag the stock towards Rs 10,800 levels - wherein stands the 100-WMA (Weekly Moving Average) - a key moving average the stock has been respecting since August 2020.    Titan  Current Price: Rs 3,067  Upside Potential: 10.9%  Downside Risk: 10.5%  Support: Rs 3,022; Rs 2,935; Rs 2,819  Resistance: Rs 3,235; Rs 3,315  Titan stock is seen trading in a fairly oversold zone on the daily scale, at the same time testing the key super trend line support on the monthly chart at Rs 3,022. Even as the overall chart set-up looks weak for Titan, some respite from current levels cannot be ruled out. As such, Titan can potentially bounce back to Rs 3,400 levels; with interim resistance seen placed at Rs 3,235 and Rs 3,315 levels.  On the flip side, break and sustained trade below Rs 3,022, can drag the stock to the next key support levels at Rs 2,935, Rs 2,819. Chart shows that the stock may slide to Rs 2,745 levels in the near-term. CLICK HERE FOR THE CHART  PC Jeweller  Current Price: Rs 11.70  Upside Potential: 13.7%  Downside Risk: 26.9%  Support: Rs 11.03; Rs 10.50; Rs 9.40  Resistance: Rs 12.17; Rs 12.70  PC Jeweller stock, which trades 1:10 stock split, is seen holding above its 50-WMA, which stands at Rs 11.03, in recent weeks. The daily chart, however, shows presence of near resistance at Rs 12.17 and Rs 12.70 levels; above which a spurt to Rs 13.30 seems likely. CLICK HERE FOR THE CHART  On the flip side, in case, the stock breaks the 50-WMA support, then a slide to Rs 8.55 cannot be ruled out. Interim support for the stock can be anticipated around 10.50 and Rs 9.40 levels.  Dr. Reddy's Labs  Current Price: Rs 1,122  Downside Risk: 9.1%  Support: Rs 1,100; Rs 1,040  Resistance: Rs 1,175  Dr.Reddy's stock seems headed towards Rs 1,020 levels in the near-term; with interim support for the stock seen at Rs 1,100 and Rs 1,040 levels. On the daily scale, the stock is fairly oversold, and could attempt a relief rally towards Rs 1,175 levels. CLICK HERE FOR THE CHART  Sun Pharma  Current Price: Rs 1,562  Downside Risk: 9.7%  Support: Rs 1,529; Rs 1,435  Resistance: Rs 1,700  Sun Pharma is seen approaching its 20-MMA (Monthly Moving Average) support at Rs 1,529 - a key moving average the stock has held since April 2020. Break and sustained trade below the same shall drag the stock to Rs 1,410 levels; with interim support likely at Rs 1,435. The near-term bias for the stock is expected to remain negative as long as the stock trades below Rs 1,700 levels. CLICK HERE FOR THE CHART