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Informist, Friday, Jul. 24, 2026

 

MUMBAI – Technical indicators are flashing signs of a bullish week ahead for Nifty Auto after the sectoral index closed in the green for the second consecutive week on Friday. This week, the index closed with gains of 0.44% at 27217.95 points – comfortably outperforming the benchmark Nifty 50 index, which closed 2.3% lower and the Nifty 200 index, which closed 1.8% lower.

 

"The index attempted to break above the 27,500 level, the upper boundary of its daily box pattern, but failed to sustain higher levels and witnessed profit booking," Vatsal Bhuva, a technical and derivatives analyst at LKP Securities, said. "Despite this, the index has reclaimed its 20-DMA and 200-DMA, while forming a series of higher lows, reflecting an improving technical structure," Bhuva said.

 

The relative strength index of Nifty Auto is currently range-bound around the mid-50s, which suggests that the index could see further consolidation before registering a decisive move. "The overall outlook remains mildly bullish, with stronger momentum expected only on a sustained close above 27,500. Until then, 26,800 remains immediate support, while 27,500 continues to act as key resistance," Bhuva said.

 

The 15 constituents of Nifty Auto put up a mixed show this week. While shares of seven companies closed in the red, the remaining eight closed comfortably in the green. Tube Investments of India was the worst performer as it shed a little over 4% this week while two-wheeler firms Bajaj Auto and TVS Motor both gained nearly 7%, each.  

 

Bajaj Auto and TVS Motor reported their June quarter earnings this week. "While overall industry growth is expected to moderate in the near term due to inflationary pressures and price hikes, the 150cc+ segment is growing significantly faster, and Bajaj Auto is gaining share through its refreshed Pulsar portfolio," ICICI Direct Research said in a note.

 

TVS Motor's management expects the company to continue outperforming the domestic two-wheeler industry in the ongoing financial year on the back of premium motorcycles, scooters, electric vehicles, exports, and new launches. "We remain positive on TVS Motor, supported by its strong engineering and R&D capabilities, sustained premiumisation, accelerating EV business, healthy export momentum, expanding manufacturing capacity, and improving product mix. We also expect Norton Motorcycles to emerge as a meaningful growth driver over the medium term, supporting revenue growth and margin expansion," Axis Direct said in a note.

 

The following automobile companies will report their financials for the quarter ended June in the coming week: Eicher Motors, Mahindra & Mahindra, Exide Industries, Maruti Suzuki, and Hyundai Motor India.

 

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* Analyst Concall:TVS Motor expects strong EV sales momentum to continue in Q2
* Analyst Concall: Bajaj Auto plans 6-wk overhaul of 125cc+ motorcycle segment
* Demand boom prompts 20?pacity expansion plan by Bajaj Auto by FY27-end
* Analyst Concall: TVS Motor expects strong EV sales momentum to continue in Q2
* Maruti Suzuki says to raise vehicle prices by up to INR 30,000 from Aug
* Earnings Review: TVS Motor Q1 revenue, PAT hit record high, surpass view
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* Ather Energy raises almost INR 13 bln via QIP, issue price at INR 1,202/shr
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* Popular Vehicles Apr-Jun sales rise 53% on year; new vehicle sales jump 91%
 

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	419.65	(-)2.60	424.60	410.90
ASHOK LEYLAND LTD	151.07	(-)2.70	153.80	146.20
BAJAJ AUTO LTD	11130.00	6.60	11403.30	10963.30
BALKRISHNA INDUSTRIES LTD	2013.50	(-)2.50	2056.40	1960.60
BHARAT FORGE LTD	2151.60	(-)1.80	2190.50	2108.70
BOSCH LTD	41755.00	2.20	42518.30	41118.30
EICHER MOTORS LTD	7628.00	0.90	7772.70	7502.70
EXIDE INDUSTRIES LTD	443.00	1.80	455.20	429.00
HERO MOTOCORP LTD	5011.10	2.10	5151.70	4911.70
MAHINDRA & MAHINDRA LTD	3161.40	(-)0.60	3253.10	3089.30
MARUTI SUZUKI INDIA LTD	13442.00	(-)2.60	13676.00	13080.00
MRF LTD	130755.00	0.10	132038.30	129658.30
SAMVARDHANA MOTHERSON INTERNATIONAL LTD	145.55	1.00	148.70	141.40
TATA MOTORS LTD	406.15	(-)2.10	413.90	394.10
TATA MOTORS PASSENGER VEHICLES LTD	323.80	(-)3.50	330.10	315.10
TVS MOTOR COMPANY LTD	3870.20	7.00	3941.10	3787.90
Index	Levels
NIFTY AUTO	27217.95	0.40	27522.30	26879.90
NIFTY 50	23767.45	(-)2.30	23949.80	23515.20
BSE SENSEX	76059.77	(-)2.70	76651.60	75178.50

 

End

 

Reported by Anand JC

Edited by Deepshikha Bhardwaj

 

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