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Informist, Friday, Aug. 7, 2026

MUMBAI – The Nifty Auto index is expected to extend its gains in the coming week, with technical indicators remaining bullish after the index ended higher for the fourth consecutive week, analysts said. Friday, the sectoral index rose 1.8% to close at 29647.90 points. It gained 3.1% for the week, outperforming the Nifty 50 and the broader Nifty 200 indices. However, some profit-booking cannot be ruled out, technical analysts said.

"The Nifty Auto index has registered a decisive breakout after several weeks of consolidation on the daily chart, while also surpassing its previous swing high, indicating sustained bullish momentum," Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said. "Following the sharp upmove, the index is currently consolidating above its short- and medium-term moving averages, reflecting underlying strength," he said, adding that although momentum indicators suggest slightly overbought conditions, no major reversal signals are visible.

This week, Maruti Suzuki India was the only Nifty Auto constituent to register a week-on-week contraction, as it closed 1.4% lower. Among the other 14 constituents, Samvardhana Motherson International was the top gainer, up almost 12%. "Within the sector, two-wheelers, passenger vehicles, and auto ancillary stocks continue to display strong relative strength," Bhuva said.

"Nifty Auto index is moving north in a higher high and higher low formation above its key long-term as well as short moving averages," said Vipin Kumar of Globe Capital Market. "Going forward, we expect it to continue its journey to the north and suggest maintaining a buy-on-dips trading approach in select auto stocks," he said.

Bhuva expects the Nifty Auto index to find support at 29000 points, while 29500-29600 remains a key Fibonacci extension resistance zone. Should the index break this level, it is likely to head towards 31160 points, he said. 

The sectoral index could find immediate support between 28600 and 28900 points, Kumar said. He expects the index to face resistance between 30600 and 31000 points.

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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:

End

Reported by Anand JC

Edited by Saji George Titus

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