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Informist, Friday, Jan. 30, 2026

MUMBAI – Shares of automobile companies that are a part of the Nifty Auto index have formed a bullish pattern and may move higher depending on the announcements made by Finance Minister Nirmala Sitharaman in the Union Budget for 2026-27 (Apr-Mar) on Sunday, analysts said. The sectoral index closed in the red for the fourth consecutive week.

"Nifty Auto Index closed by forming a bullish candlestick from its marked support zone, while a hammer candlestick is visible on the weekly chart, indicating buying interest at lower levels. With the crucial Union Budget event ahead, the index is likely to witness a directional move post the announcement," Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said.

On Friday, the Nifty Auto closed 0.7% higher at 26750.35. For the week, the index closed 0.2% lower. In contrast, the benchmark Nifty 50 rose 1.1% this week to close at 25320.65 points.

"Currently, the index is consolidating between the 26200–26800 range and is trading below its 20-day moving average. Immediate support is placed at 26200, while resistance stands at 26800," Bhuva said. Any decisive break on either side is expected to be triggered by Budget announcements, he said. The Indian automobile industry has sought policy stability, enhanced incentives for electric vehicles, and tax rationalisation to boost demand.

"Initially sentiment (this week) was subdued due to renewed tariff-related concerns and mixed corporate earnings, although optimism surrounding the India–EU trade agreement lent support, particularly to trade-oriented sectors," Vinod Nair, head of research, Geojit Investments Ltd., said in a note. "Select pockets of weakness were observed in Autos and Beverages amid intensifying competitive pressures," he added.

Another factor that could dictate share price movement would be wholesale sales data for January, which would be disclosed by automobile companies starting Sunday.

The following companies will disclose their December quarter financials next week: Hyundai Motor India, Tata Motors Passenger Vehicles, Hero MotoCorp, and Bosch.

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

End

Reported by Anand JC

Edited by Ashish Shirke

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