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Informist, Friday, Aug. 28, 2026

 

MUMBAI – The Nifty Auto index is expected to continue driving along its consolidation path as it is currently trading below its 20-day moving average, indicating near-term weakness, technical analysts said. The sectoral index closed in the red for the third consecutive week, mirroring the weakness in the broader markets.

 

Friday, the Nifty Auto closed 0.1% lower at 28851.80 points. For the week, it fell almost 1%. In contrast, the benchmark Nifty 50 index fell 0.3% while the wider Nifty 200 index ended almost flat with a slight negative bias.

 

"The index is currently hovering around the previous swing-high support of 28700, while the 38.2% Fibonacci retracement level near 28500 could provide the next crucial support," Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said. He expects the sectoral index to face resistance at around 29200 points even as it looks set to undergo further consolidation in the near-term.

 

Automotive stocks could also react to wholesale sales data due for release next week. "Demand is supported by festive buying, dealer stocking ahead of Onam and Raksha Bandhan, and favourable base effects as well as replacement demand," brokerage Nirmal Bang said in a report. "Retail registrations in the first half of August grew in the mid-double digits for two-wheelers and tractors, while PV (passenger vehicles) and CV (commercial vehicles) growth remained in the low-single digit, partly due to the delayed Shravan period."

 

Analysts expect growth to continue across all segments, excluding tractors, which could remain flat due to a high base. Tata Motors Passenger Vehicles, Tata Motors, TVS Motor Co., and Escorts Kubota are expected to be the standout performers in August, Nuvama Institutional Equities said in a report Friday.

 

Wholesale sales of passenger vehicles are expected to grow around 20% on year while those of two-wheelers may rise 10%, Nuvama said. Better affordability, new products, adequate financing, and inventory build-up with dealers likely lifted despatches of both these segments in August. 

 

TOP HEADLINES

* Ola Electric launches S1Z for mass market with locally developed battery
* Radhakrishnan to step down as TVS Motor CEO in Jan, Kargar named successor
* Strong on-year rise in auto wholesale volumes likely in August, says Nomura
* Tata Motors PV unveils new brand identity TATA.CARS
* CRISIL Ratings assigns 'AA+' rtg to Gabriel India's NCDs worth INR 10 bln
* Hero MotoCorp to buy more stake in Ather Energy for INR 17.58 bln
* TVS Motor launches Jupiter dual tone spectral range variant at INR 89,825
* Creative Newtech enters partnership with Jupiter Electric, Drona Aviation
* Maruti Suzuki first co to transport cars by rail to Pollachi rail terminal
* Gabriel India forms JV with South Korean co HL Klemove for advanced systems
* HAL, Safran Helicopter sign pact to make, sell Aravalli helicopter engines
* ANALYSIS: Auto cos Q1 sales rise most in 4 qtrs; PAT second worst in 13 qtrs
* Hero MotoCorp invests INR 2.40 bln in Ather Energy via warrants
* Ather Energy okays INR-12 bln-preferential issue; Hero MotoCorp stake to rise
* Hyundai Motor, Jio-bp in pact to integrate, boost EV charging network
* Tata Communications to integrate 5G in Tata Motors PV's EV Sierra
* TVS Motor unveils iQube MillionR special edition to mark 1 mln iQube sales
* Gabriel India to raise up to INR 10 bln via NCDs on private placement basis
 

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	443.50	0.90	454.40	436.60
Ashok Leyland	175.77	1.60	179.60	172.90
Bajaj Auto	11,910.00	1.80	12,089.30	11,679.30
Balkrishna Industries	2,340.10	(-)0.50	2,376.90	2,308.10
Bharat Forge	2,037.70	(-)1.20	2,073.10	1,987.70
Bosch	48,640.00	0.90	49,440.00	47,620.00
Eicher Motors	8,059.00	0.60	8,204.30	7,930.30
Exide Industries	444.60	(-)3.30	466.90	426.60
Hero MotoCorp	5,600.00	(-)2.40	5,719.30	5,469.30
Mahindra & Mahindra	3,334.00	(-)2.30	3,378.90	3,279.50
Maruti Suzuki India	13,376.00	(-)1.40	13,613.30	13,199.30
MRF	132,080.00	(-)0.40	134,753.30	130,573.30
Samvardhana Motherson International	165.60	(-)2.20	168.30	163.30
Tata Motors	466.30	(-)1.30	480.10	455.70
Tata Motors Passenger Vehicles	319.40	0.50	323.50	311.30
TVS Motor Co.	4,304.20	(-)2.00	4,560.40	4,033.40
Index	Level
Nifty Auto	28851.80	(-)0.90	29202.60	28498.60
Nifty 50	24175.65	(-)0.30	24258.40	24035.50
BSE Sensex	77264.51	(-)0.40	77573.30	76833.80

 

End

 

Reported by Anand JC

Edited by Rajeev Pai

 

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