Auto Stocks Outlook
Seen up next week; Bajaj Auto, TVS Motor Q1 results eyed
This story was originally published at 20:12 IST on 17 July 2026
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MUMBAI – Technical analysts expect automobile stocks to trade higher next week. Traders will track the June quarter earnings of automobile companies and management commentaries on the demand outlook for the rest of the year. Trends in rural demand, progress of the monsoon, and prices of commodities will also be monitored by the market, analysts said. Two-wheeler makers Bajaj Auto and TVS Motor Co. will detail their results on Tuesday.
The Nifty Auto index formed a bullish candlestick on the daily charts while trading near the upper boundary of its consolidation range, reflecting improving buying interest, Vatsal Bhuva, technical analyst at LKP Securities, said. "However, a decisive close above 27,500 is required to confirm a fresh uptrend and a breakout from the consolidation phase," he said. Immediate support is placed at 26800, while 27500 remains the key resistance level to watch, Bhuva added.
For the week, shares of seven of the 15 constituents of the Nifty Auto index closed lower. The sectoral index is among the ones that outperformed benchmark indices, though it gained only 0.9%. The Nifty Auto Friday closed at 27099.75 points, up 332.20 points or 1.2% from Thursday.
Earnings of automobile makers are expected to be driven by strong demand momentum, the ongoing premiumisation trend, improving consumer affordability, and supportive regulatory measures, Axis Securities said in a preview report. Bajaj Auto is expected to report a 33% on-year jump in its net profit and a 35% rise in revenue for the quarter ended June. This is likely on the back of increase in overall volumes, depreciation in the rupee benefiting exports, and improvement in average selling price due to a better product mix.
TVS Motor Co. is also expected to report strong earnings and it seen posting a 30% on-year jump in its net profit and around a 35% rise in revenue. Increase in volumes, a richer domestic vehicle mix, and higher export volumes is expected to help the Apache-maker post better results.
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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:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| APOLLO TYRES LTD | 430.65 | (-)2.20 | 438.20 | 418.80 |
| ASHOK LEYLAND LTD | 155.23 | (-)1.40 | 157.00 | 153.40 |
| BAJAJ AUTO LTD | 10443.00 | 2.80 | 10579.70 | 10281.70 |
| BALKRISHNA INDUSTRIES LTD | 2065.30 | (-)8.30 | 2189.60 | 1995.80 |
| BHARAT FORGE LTD | 2190.50 | 3.50 | 2258.40 | 2067.00 |
| BOSCH LTD | 40855.00 | (-)2.30 | 41845.00 | 40265.00 |
| EICHER MOTORS LTD | 7563.50 | 2.70 | 7654.50 | 7404.50 |
| EXIDE INDUSTRIES LTD | 435.20 | 2.50 | 448.10 | 412.10 |
| HERO MOTOCORP LTD | 4909.90 | (-)0.80 | 4956.00 | 4847.80 |
| MAHINDRA & MAHINDRA LTD | 3179.20 | 1.60 | 3224.70 | 3096.30 |
| MARUTI SUZUKI INDIA LTD | 13803.00 | (-)0.40 | 13981.00 | 13611.00 |
| MRF LTD | 130695.00 | (-)2.80 | 132245.00 | 128775.00 |
| SAMVARDHANA MOTHERSON INTERNATIONAL LTD | 144.17 | 0.70 | 147.20 | 141.50 |
| TATA MOTORS LTD | 414.65 | (-)1.90 | 427.20 | 400.00 |
| TATA MOTORS PASSENGER VEHICLES LTD | 335.60 | (-)0.70 | 340.80 | 327.60 |
| TVS MOTOR COMPANY LTD | 3618.20 | (-)0.10 | 3668.10 | 3538.10 |
| Index | Levels | |||
| NIFTY AUTO | 27099.75 | 0.90 | 27350.40 | 26640.40 |
| NIFTY 50 | 24334.30 | 0.50 | 24535.10 | 23998.60 |
| BSE SENSEX | 78151.45 | 0.80 | 78888.60 | 76939.50 |
End
Reported by Gopika Balasubramanium
Edited by Avishek Dutta
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