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Informist, Friday, Apr. 27, 2026

NEW DELHI – Shares of automobile companies part of Nifty Auto are expected to trade lower next week as well, in tandem with the broader market, which has come under severe selling pressure following the US and Israel's aerial bombardment of Iran since late February, according to technical analysts. Pain in the market was acute this week as the selling was broad-based across sectors. All major sectors ended Friday's session in lower.

"Nifty Auto index, a high beta sector with strong correlation to Nifty, continues to witness selling pressure amid global uncertainties and rising energy concerns," said Vatsal Bhuva, a technical and derivatives analyst at LKP Securities. Friday, the Nifty Auto index closed 2.8% lower at 24351.95 points. For the week, the index lost 1.5%, a touch poorer than the benchmark Nifty 50, which closed 1.3% lower and Nifty 200, which closed 1.5% lower.

As many as 13 companies part of the 15-stock sectoral index closed in the red for the week. Ashok Leyland Ltd., Sona BLW Precision Forgings Ltd., and Tata Motors Passenger Vehicles Ltd. were the top laggards, down over 3% each, while Bharat Forge Ltd. and Tube Investments Ltd. outperformed as both auto companies registered a gain of around a percent, each.

"On the weekly chart, the index has retraced towards its prior breakout zone, indicating loss of momentum. The daily chart shows a weak structure with lower highs, and a mild hidden bearish divergence indicating continuation of the downtrend," Bhuva said. "Price sustaining below the 20 DMA confirms bearish control. Immediate support is placed at 24,150 and resistance at 25,000, suggesting a volatile range ahead," he added.

Sales of automobiles in India largely held up across segments. "Auto demand in Mar'26 remained broadly strong across segments, supported by festive tailwinds, favorable base, and policy support (state-level), though early signs of moderation are emerging," YES Securities said in a report Friday. "A slight moderation in recent inquiries indicate growing consumer caution amid external factors like untimely rains and geopolitical concerns," the report said. The market will closely track disclosures by automobile companies early next week detailing wholesale despatches for March.

TOP HEADLINES

* Auto sales growth to moderate FY27 on high base, input cost pressures: ICRA
* Ola Electric launches campaign to promote EVs amid surge in fuel prices
* PRESS: Jaguar Land Rover halts production at Solihull plant, Britain
* Ola Electric expands 'Ola Insiders' upgrade programme to over 150 cities
* Maruti Suzuki's Manesar in-plant railway siding tops 100,000 despatches
* TVS Motor declares FY26 interim dividend of INR 12, sets Mar 31 record date
* Maruti Suzuki board OKs investing INR 102 bln in Gujarat car mfg unit
* Bosch, Tata AutoComp form JV to manufacture, sell EV components
* Sona BLW board OKs FY27 capex plan; to spend INR 622 mln to up gear capacity
* Ashok Leyland to acquire more stake in UK arm Optare for INR 3.75 bln
* Tata Motors PV to hike prices of non-EV cars, SUVs by avg 0.5% from Apr 1
* Tata Motors PV overcomes gas cut at Sanand, maintains output - Sources

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 Akul Nishant Akhoury

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