Auto Stocks Outlook
Shrs look strong but no clear indication of upward move
This story was originally published at 21:09 IST on 25 June 2026
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MUMBAI – The Nifty Auto index showed strength during Thursday's trading session but technical indicators do not show signs of a clear upward move, according to technical analysts. "The index continues to trade within a rectangle pattern, indicating a phase of consolidation and sideways price action," Vatsal Bhuva, technical analyst at LKP Securities, said.
"During Thursday's session, some selling pressure was seen near the upper boundary of the range; however, the index closed above its 200-DMA (200-day moving average), reflecting underlying strength," he said. Thursday, the Nifty Auto index closed 2.3% higher at 26977.75 points. "Auto stocks outperformed, driven by softer metal prices, easing supply chain constraints, and improving retail demand during the month," Vinod Nair, head of research at Geojit Investments Ltd., said in a note.
A decisive close above the 27000-point mark and the recent swing-high could trigger an upside move towards 27600 points, Bhuva said. "A sustained breakout above 27600 would further strengthen the bullish outlook," he said. "Immediate support is placed at 26800, followed by 26500, while resistance is seen at 27000 and 27600." Eicher Motors continues to exhibit relative strength within the sector, he added.
For the week, the Nifty Auto closed 1.5% higher, sharply outperforming the benchmark Nifty 50 index, which closed 0.2% higher, and the Nifty 200, which closed 0.1% lower. Bharat Forge was the top performer within the sectoral index, rising a shade over 5% this week. Tube Investments of India dropped 7% and was the biggest laggard.
The Indian automobile industry is expected to showcase healthy wholesale sales for June despite the recent hikes in fuel prices and the inauspicious period of Adhik Maas observed in select regions. Nuvama Institutional Equities expects wholesale sales of passenger vehicles to expand by over 20% on year in June. Two-wheelers, commercial vehicles, and tractors may report growth of over 10% each, it said.
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* Mahindra Group cos join govt scheme to replace old trucks, buses in Delhi-NCR
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 | 430.65 | 1.20 | 446.70 | 416.20 |
| Ashok Leyland | 160.68 | 2.60 | 165.50 | 154.10 |
| Bajaj Auto | 9,843.00 | (-)2.20 | 10,008.30 | 9,686.30 |
| Balkrishna Industries | 2,233.60 | (-)0.50 | 2,313.90 | 2,179.90 |
| Bharat Forge | 2,145.30 | 5.10 | 2,187.80 | 2,101.60 |
| Bosch | 40,440.00 | 0.60 | 41,873.30 | 39,463.30 |
| Eicher Motors | 7,598.00 | (-)0.20 | 7,816.70 | 7,472.70 |
| Exide Industries | 389.80 | 2.40 | 418.20 | 374.30 |
| Hero MotoCorp | 4,896.10 | (-)1.60 | 5,105.90 | 4,772.30 |
| Mahindra & Mahindra | 3,182.20 | 3.50 | 3,281.40 | 3,036.40 |
| Maruti Suzuki India | 13,745.00 | 2.60 | 14,253.70 | 13,071.70 |
| MRF | 129,550.00 | 0.70 | 132,773.30 | 127,593.30 |
| Samvardhana Motherson International | 151.71 | 4.20 | 161.60 | 139.10 |
| Tata Motors | 431.90 | 7.40 | 447.80 | 406.40 |
| Tata Motors Passenger Vehicles | 353.20 | (-)1.80 | 364.40 | 345.40 |
| TVS Motor Co. | 3,569.70 | 3.70 | 3,691.60 | 3,391.00 |
| Index | Level | |||
| Nifty Auto | 26977.75 | 1.50 | 27637.00 | 26220.30 |
| Nifty 50 | 24056.00 | 0.20 | 24341.50 | 23896.30 |
| BSE Sensex | 77100.47 | 0.40 | 78109.00 | 76488.90 |
End
Reported by Anand JC
Edited by Rajeev Pai
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