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Informist, Friday, May. 15, 2026

MUMBAI – Shares of automotive companies are expected to fall next week as momentum indicators are flashing caution signs, according to technical analysts. "The Nifty Auto index is witnessing signs of weakness after a false breakout from the rectangle consolidation pattern, as the index has once again slipped back into its earlier trading range," Vatsal Bhuva, a technical and derivatives analyst at LKP Securities, said.

Friday, the Nifty Auto closed with a hint of positive bias at 26070.70 points. Given the broad-based weakness in the market, the sectoral index snapped a two-week rise. The relative strength index of the sector is currently near the 48-mark, which reflects a weak trend. Stock-specific charts indicate continued weakness across both two-wheeler and four-wheeler segments.

"A similar price structure is visible across most auto stocks, suggesting limited directional momentum in the broader auto space," Bhuva said. "Technically, the index may continue to remain range-bound with heightened volatility and sharp swings on both sides. The 25650–25600 zone, which marks the swing low formed on 14th April, is expected to act as a crucial support area, while 26300–26400 could remain a strong resistance zone."

For the week, the Nifty Auto fell 4.4% while the benchmark Nifty 50 fell only 2.2% and the Nifty 200 fell 2.3%. Tata Motors Passenger Vehicles was the only stock in the Nifty Auto to close higher on week. The other 14 companies that are part of the sectoral index closed in the red. Ashok Leyland was the top laggard, down a touch over 9% on week.

Earlier in the week, TVS Motor Co. reported its March quarter earnings. Its revenue grew 34% on year on robust volume growth and export performance. The management flagged pressure from rising prices of precious metals because of the war in West Asia. It expects to offset the pressure through price hikes. Around 35% of the cost inflation has already been passed on through price hikes.

Tata Motors Passenger Vehicles reported a profit for the March quarter, having reported a loss for the previous two quarters on an adjusted basis, as operations of Jaguar Land Rover gradually recover from a severe cyberattack. Tata Motors PV's consolidated revenue grew 7% on year while its consolidated earnings before interest, tax, depreciation, and amortisation increased around 11%. 

Tata Motors PV also flagged worries because of mounting input costs. The company said it wants to outpace the industry in terms of passenger vehicles sales growth led by a healthy order book, leaner channel inventory, and new product launches. It has planned two new nameplates and four facelifts each in internal combustion engine vehicles and electric vehicles. 

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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 Rajeev Pai

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