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Informist, Friday, Jul. 10, 2026

 

MUMBAI – Analysts expect traders to gauge the progress of the Southwest monsoon, prices of crude oil, June-quarter results, and trends in rural demand in the near term, while tracking automobile stocks. Technical analysts expect automobile stocks to consolidate in the near term. While wholesale sales in June were robust, an increase in volumes in the coming months may be hit as the monsoon is a seasonally a weak period, analysts said.

 

However, some analysts expect the growth in despatches to be intact during Jul-Sept and expect weakness during Oct-Mar due to a high base. That said, analysts see the stocks following the trend in the broader market if the situation in West Asia worsens. "Volume growth in first half of FY27 is largely sorted but second half seems tough," a senior automobile analyst at a foreign broking firm said. He also said the festival season may not see a sharp increase in terms of growth due to a high base.

 

There are risks related to El Nino for wholesale sales growth of entry-level two-wheelers and tractors, he said, adding that margin pressure for automobile makers will persist and overall, companies are yet to take another 2-3% hike. 

 

Last week, some analysts had said the pattern of the monsoon would be closely watched, and the current crop cycle would not be affected as there are optimum reservoir levels. However, if the monsoon does not progress well, the upcoming crops will definitely be hit, they said, adding that rural demand would also be hit.

 

For the week, shares of 12 of the 15 constituents of the Nifty Auto index closed lower. The sectoral index is among the ones that underperformed the benchmark indices. Bajaj Auto, Uno Minda, and Hero MotoCorp rose 2-4% this week and were the top gainers. Ashok Leyland, Maruti Suzuki India, and Samvardhana Motherson International were the underperformers and fell over 2-4%. The Nifty Auto Friday closed at 26860.75 points, up 184.40 points or 0.7% from Thursday.

 

The Nifty Auto index is expected to consolidate in the near term, and immediate support is seen at 26500-26000 points, Ashish Sherigar, senior technical and derivatives analyst, said. Immediate resistance stands at 27500 points, followed by major resistance at 28120–28500 points, he added.

 

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* PRESS: VinFast to launch two-wheelers in India by end 2026
* Tata Motors produces 111,240 commercial vehicles in Apr-Jun, up 21% YoY
* Two pleas in NCLT Bengaluru bench seeks insolvency against Ola Electric arm
* Tata Motors PV Apr-Jun production rises 42% on year to 185,640 units
* India auto retail sales rise 22% YoY, FADA says best ever June sales
* CARE Ratings assigns AAA rating to TVS Motor's proposed NCDs; outlook stable

 

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	440.10	(-)1.90	449.60	433.30
ASHOK LEYLAND LTD	157.49	(-)4.20	159.20	154.80
BAJAJ AUTO LTD	10,156.00	3.80	10,372.70	10,006.70
BALKRISHNA INDUSTRIES LTD	2,252.90	1.50	2,304.30	2,194.30
BHARAT FORGE LTD	2,117.00	(-)0.90	2,180.10	2,076.50
BOSCH LTD	41,815.00	(-)0.20	42,771.70	41,241.70
EICHER MOTORS LTD	7,365.50	0.40	7,505.20	7,265.20
EXIDE INDUSTRIES LTD	424.40	1.90	434.70	417.00
HERO MOTOCORP LTD	4,949.10	2.00	5,015.00	4,855.20
MAHINDRA & MAHINDRA LTD	3,129.40	(-)0.20	3,153.00	3,093.40
MARUTI SUZUKI INDIA LTD	13,854.00	(-)3.60	14,083.30	13,661.30
MRF LTD	134,425.00	(-)0.20	135,808.30	133,308.30
SAMVARDHANA MOTHERSON INTERNATIONAL LTD	143.19	(-)2.10	145.80	141.30
TATA MOTORS LTD	422.50	(-)2.20	430.70	414.50
TATA MOTORS PASSENGER VEHICLES LTD	337.95	(-)1.80	343.90	330.70
TVS MOTOR COMPANY LTD	3,623.10	(-)0.10	3,692.60	3573.80
Index	Levels
NIFTY AUTO	26860.75	(-)0.50	27072.80	26668.20
NIFTY 50	24206.90	(-)0.30	24293.30	24077.10
BSE SENSEX	77569.39	(-)0.30	77832.40	77189.10

 

End

 

US$1 = INR 95.33

 

Reported by Gopika Balasubramanium

Edited by Himanshi Gupta 

 

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