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Informist, Friday, Jun. 5, 2026

 

MUMBAI – The Nifty Auto index is currently trading in a "congestion" zone, oscillating within a cluster of key moving averages, and not showing any clear directional momentum on the daily chart, technical analysts said. The sectoral index snapped a two-week losing streak last week, but could not sustain momentum this week, closing in the red.

 

On Friday, the Nifty Auto closed mildly higher at 26165.95 points. Analysts expect the Nifty Auto to find immediate support at 25900 points, and positional support at 25600 points. However, the index may face resistance at 26500–26800 points.

 

For the week, however, the index lost 0.65%. Performance of the index this week was largely in line with the benchmark Nifty 50 index, which closed 0.77% lower and slightly better than the wider Nifty 200 index, which lost just around a percent. 

 

"With multiple technical hurdles in place, a decisive trend is unlikely unless the index breaks out of its current range. A sustained move above 27,000 or below 25,600 could trigger fresh momentum," Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said. 

 

This week, only four of the 15 companies in the index closed with gains. Exide Industries outperformed with a 3.38% gain this week, while Ashok Leyland was the worst performer, down 6.53%. "Among auto stocks, TVS Motor and Bajaj Auto display bullish chart structures, whereas Ashok Leyland continues to exhibit weakness with a bearish technical setup," Bhuva said.

 

This week, the Union Cabinet approved a scheme with an outlay of INR 95.90 billion in a bid to replace BS-IV and older trucks and buses in Delhi-NCR with newer and cleaner BS-VI-fitted commercial vehicles, and even electric variants. "While the scheme aims to address the NCR's outsized vehicular pollution, we believe it will result in limited incremental benefits for fleet operators to the tune of 3-4% versus the current cost structure," Kotak Institutional Equities said in a report. It expects the benefits for commercial vehicles as a result of this move to be limited. Among its peers, Tata Motors is poised to gain more, even if only relatively.

 

The automobile industry continues to fare well in terms of sales as demand remains robust, according to monthly sales disclosures released earlier this week. Wholesale sales of passenger vehicles in India improved 25% on year, while domestic retail sales of two-wheelers grew 8%. Sales of commercial vehicles in India moderated, while those of tractors continued to be strong.

 

TOP HEADLINES

* Maruti Suzuki to set up new biogas plant at Kharkhoda facility
* Ola Electric QIP ends Thu; 217.6 mln shares issued at INR 35.86 apiece
* Gadkari pitches for remodeling of old engines to be flex-fuel compliant
* Maruti Suzuki engaged in hydrogen research projects, says MD Takeuchi
* Hero MotoCorp launches flex fuel models of Splendor+, HF Deluxe
* JBM Auto leads electric bus market with 49% share in May, co says
* Cabinet OKs INR 50.41-bln scheme to phase out old trucks, buses in Delhi-NCR
* Moody's sees India light vehicle sales up 7% in 2026, growth moderating
* ICRA assigns AA+ for Ashok Leyland's proposed INR 3 bln NCDs; outlook stable
* Hero MotoCorp sales in May rise 12% on year to 570,068 units
* WRAP: India PV demand holds amid rising input, fuel costs; sales up 25% on yr
* Force Motors May total sales down 15% on yr on weak domestic sales, exports
* Ola Electric QIP opens Mon, co sets floor price as INR 37.74 per share
* Maruti Suzuki May output up 17% YoY at 230,041 units led by utility vehicles
* Maruti Suzuki presses pedal on CNG cars as oil prices spike on W Asia war
* Ashok Leyland's total vehicle sales down 4% YoY at 14,923 units in May
* Tata Motors PV May despatches up 42% on year at 59,790 units
* Eicher Motors May motorcycle sales up 15% on year, exports down for 4th mo
* Tata Motors' CV despatches jump 17% YoY in May, exports fall 9%
* Domestic market sales drive Eicher Motors' May volumes up around 8% on year
* TVS Motor May sales up 31% YoY at 566,585 units, EV sales rise 56% YoY
* Maruti Suzuki's car despatches rise 35% YoY to record 242,688 units in May
* Fire at supplier's unit to cause temporary output disruption - Hyundai Motor
* Ola Electric's two-wheeler registrations rise 23% YoY to 15,139 units in May
* Escorts Kubota tractor sales up 19% YoY in May at 12,310 units
* M&M May SUV despatches rises 11% YoY, co flags manpower shortages
* Hyundai Motor May despatches hit 5-mo low, exports dn for 3rd straight month
* Bajaj Auto May 2-wheeler despatches growth slumps to 5-mo low
* TVS Motor launches Monotone, Agonda variants of Ronin motorcycle in Nepal
* Olectra Greentech Jan-Mar consol PAT up over twofold on year to INR 555 mln
 

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 LTD	396.80	0.60	400.90	393.00
ASHOK LEYLAND LTD	145.29	(-)6.50	147.90	142.50
BAJAJ AUTO LTD	10,342.00	(-)1.10	10,497.30	10,239.30
BALKRISHNA INDUSTRIES LTD	2,142.00	(-)2.90	2,272.00	2,070.00
BHARAT FORGE LTD	1,929.80	(-)1.40	1,967.90	1,898.10
BOSCH LTD	37,240.00	1.70	37,980.00	36,230.00
EICHER MOTORS LTD	7,070.00	(-)1.50	7,204.00	6,962.00
EXIDE INDUSTRIES LTD	399.55	3.40	412.80	390.40
HERO MOTOCORP LTD	4,835.00	(-)1.40	4,956.90	4,730.10
MAHINDRA & MAHINDRA LTD	3,040.50	(-)0.20	3,083.70	2,991.10
MARUTI SUZUKI INDIA LTD	13,050.00	(-)0.60	13,306.70	12,786.70
MRF LTD	1,23,505.00	0.10	1,26,868.30	1,21,668.30
SAMVARDHANA MOTHERSON INTERNATIONAL LTD	143.56	(-)1.50	147.40	141.10
TATA MOTORS LTD	369.15	(-)2.70	383.20	360.10
TATA MOTORS PASSENGER VEHICLES LTD	397.80	1.00	407.60	388.70
TVS MOTOR COMPANY LTD	3,383.90	0.80	3,427.30	3,323.30
Index	Levels
NIFTY AUTO	26165.95	(-)0.70	26523.40	25819.10
NIFTY 50	23366.70	(-)0.80	23622.30	23154.90
BSE SENSEX	74243.34	(-)0.70	75045.40	73587.70

 

End

 

Reported by Anand JC

Edited by Avishek Dutta

 

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