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Informist, Friday, Aug. 29, 2025

MUMBAI – Nifty Bank may continue to fall next week due to the additional 25% tariff by the US and also as the India-US trade deal now looks like a distant dream, according to analysts. However, positive data from the Indian economy is expected to provide some support to the markets, they said. 

The index slumped 3.8% during the week and closed at at 53655.65 points on Friday, with most of its constituents ending in the red. AU Small Finance Bank led the losses on Friday, falling 1.5%.

In the absence of a trade deal between India and the US, some banks--which have exposures to sectors which will be impacted if the US tariffs persist at the high rate of a cumulative 50%--may see additional selling pressure, analysts said. However, shares will be supported by data showing resilience in the Indian economy, they said. 

India's GDP grew faster than expected to a five-quarter high of 7.8% in Apr-Jun, boosted by higher growth in the services and manufacturing sectors, data released by the statistics ministry Friday after market hours showed. A quarter ago, the economy had grown 7.4%. A year ago, GDP had risen 6.5%. Additionally, industrial production in India rose to a four-month high of 3.5% in July from a 10-month low of 1.5% in June, picking up on the back of an improved performance by the manufacturing sector, data from the ministry showed Thursday after market hours. 

"Looking ahead, India's resilience, supported by strong Q1 (Apr-Jun) GDP print driven by government spending and policy measures, may provide a buffer against external headwinds, though fiscal concerns remain. A resolution of tariff disputes could act as a key catalyst for market sentiment, although the reciprocal 25% tariff is expected to remain in place in the near to medium term," said Vinod Nair, Head of Research, Geojit Investments Ltd.   

In its technical view, Kotak Securities said, "For Bank Nifty, if it sustains above 53500, a pullback move is likely to continue toward 54500–55000–55800. Conversely, if it falls below 53500, it could decline toward the 200-day SMA or around 53000–52800."

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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Kabir Sharma

Edited by Akul Nishant Akhoury

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