Auto Stocks Outlook
Seen up next week as sectoral index snaps 2-week fall
This story was originally published at 19:38 IST on 10 April 2026
Register to read our real-time news.Informist, Friday, Apr. 10, 2026
MUMBAI – Stocks that are part of the Nifty Auto index are expected to continue their positive momentum next week, having shown signs of stability this week, technical analysts said. The sectoral index snapped a two-week losing run to close higher as the broader market heaved a sigh of relief after the US and Iran agreed to a two-week ceasefire. "After retracing fully to its breakout levels and filling the gap on the daily chart, the index is showing signs of stability," Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said.
Friday, the Nifty Auto closed 2.9% higher at 26640.90 points. For the week, the index closed nearly 11% up, sharply outperforming the benchmark Nifty 50 index, which gained 5.9%, and the Nifty 200, which closed 6.7% higher.
"On the weekly chart, a strong bullish candlestick formation indicates a robust recovery," Bhuva said. "The (Nifty Auto) index has reclaimed its 200-day moving average and is sustaining above its 20-day moving average, reinforcing the positive momentum."
"Going ahead, it (the Nifty Auto) is likely to continue its journey northward and is expected to test 27200-27400 levels in the coming week," said Vipin Kumaar, assistant vice-president, technical and derivatives, at Globe Capital Market. "Conversely, any adverse move will find support around 26000-25700 levels." Bhuva pegged the resistance level for the sectoral index at 27000-27100 points and immediate support at around 26300 points.
All 15 automobile companies that are part of the Nifty Auto closed higher for the week. Uno Minda registered the lowest weekly gain of 5% while Ashok Leyland was the top performer, up nearly 20%. As many as eight companies' shares registered a double-digit rise for the week.
Markets will also keenly track the March quarter financials of automobile companies which will be disclosed from next week onwards. "Q4FY26 (Jan-Mar) saw double-digit wholesale volume growth as sentiments remained positive post GST 2.0 rationalisation, earlier festivities, wedding season, easier financing, growth in overall economy, and improved rural sentiments driven by good rainfall," Prabhudas Lilladher said in a report.
However, analysts warned that the war in West Asia and the rising cost of raw materials such as precious metals, steel, aluminium, and copper are expected to weigh on the margins of automakers partially in the March quarter and more in the upcoming quarters.
TOP HEADLINES
* Royal Enfield launches 1st electric motorcycle Flying Flea C6 at INR 279,000
* Bharat Forge looking to liquidate German arm, OKs financing of 30 mln euros
* Belrise Ind issues corporate guarantee for 13.9 mln sterling for arm's loan
* Bosch to fully acquire Bosch Chassis Systems India for up to INR 90.69 bln
* Hyundai Motor raises prices of cars by up to 1?ross portfolio from May
* TVS Motor launches three-wheeler TVS Armado 200 in Indonesia
* FADA says electric vehicle sales rose 25% in FY26, share in PVs rises most
* FOCUS:Two-wheeler sales growth to moderate FY27 on high base, cost pressures
* Escorts Kubota agri arm to up prices of Kubota brand tractors from Apr 15
* Tata Motors launches Tata Intra EV pickup starting at INR 1.20 mln
* Tata Motors Jan-Mar production of passenger vans up 76% on yr at 6,898 units
* Tata Motors PV Jan-Mar output up 38% on yr; Nexon, Punch account for 60%
* Auto sales in urban India outpace growth in rural areas FY26, says FADA
* Eicher Motors launches new base premium variant of Royal Enfield Hunter 350
* Ola Electric gets production-linked incentive certificate for Roadster 4.5
* Escorts Kubota's agri machinery ops to raise tractor prices from Apr 15
* Tata Motors PV, M&M move up on FY26 sales ranking as Hyundai Motor slips
* JLR Jan-Mar volumes up QoQ as production back to normal, says Tata Motors PV
* M&M to raise prices of petrol-, diesel-run SUVs, CVs by up to 2.5% from Mon
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:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| Apollo Tyres | 438.15 | 7.00 | 450.40 | 429.40 |
| Ashok Leyland | 178.02 | 19.90 | 182.40 | 169.90 |
| Bajaj Auto | 9,813.50 | 12.10 | 10,130.20 | 9,241.20 |
| Balkrishna Industries | 2,268.90 | 9.80 | 2,322.90 | 2,205.10 |
| Bharat Forge | 1,798.80 | 9.50 | 1,838.90 | 1,730.90 |
| Bosch | 37,330.00 | 16.20 | 38,103.30 | 36,463.30 |
| Eicher Motors | 7,424.00 | 11.70 | 7,588.00 | 7,119.00 |
| Exide Industries | 324.50 | 8.40 | 335.40 | 306.70 |
| Hero MotoCorp | 5,466.50 | 9.10 | 5,604.50 | 5,226.50 |
| Mahindra & Mahindra | 3,259.80 | 8.20 | 3,326.60 | 3,146.60 |
| Maruti Suzuki India | 13,709.00 | 8.50 | 13,905.70 | 13,491.70 |
| MRF | 136,705.00 | 8.20 | 139,421.70 | 133,061.70 |
| Samvardhana Motherson International | 122.16 | 14.40 | 126.10 | 115.00 |
| Tata Motors | 444.55 | 14.60 | 456.30 | 424.50 |
| Tata Motors Passenger Vehicles | 342.60 | 13.00 | 349.30 | 331.70 |
| TVS Motor Co. | 3,839.90 | 13.20 | 3,910.60 | 3,719.60 |
| Index | Level | |||
| Nifty Auto | 26,640.90 | 10.60 | 27,116.70 | 25,764.50 |
| Nifty 50 | 24,050.60 | 5.90 | 24,211.40 | 23,776.00 |
| BSE Sensex | 77,550.25 | 5.80 | 78,112.60 | 76,570.00 |
End
Reported by Anand JC
Edited by Rajeev Pai
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