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Informist, Friday, Sept. 11, 2026

 

MUMBAI – The outlook for the Nifty Auto index remains bearish in-line with weakness in the wider market, which has trended lower due to crude oil prices trading above $100 a barrel, technical analysts said. Indian equities as a whole ended the week lower Friday as part of a corrective trend, Vinod Nair, head of research at Geojit Investments, said in a note.

 

The Nifty Auto index closed at 27304.50 points, 0.9% lower than Thursday. For the week, the index lost 1.5%, as it ended in the red for the fifth consecutive week. In what can be seen as a silver lining, the sectoral index mildly lost less than the benchmark Nifty 50 index, which closed 2.1% lower for the week.

 

Rising Brent crude oil prices have weighed on sentiment for the Nifty Auto index. Buying interest emerged from lower levels Friday as the index was in the oversold zone; however, the move should be viewed as a recovery after reclaiming its 200-day daily moving average following an intraday breach, Vatsal Bhuva, technical and derivatives analyst at LKP Securities, said. "The outlook stays bearish as long as Brent sustains above $100. Support is at 27100, while recovery may face resistance at 27600," Bhuva said. Technical indicators suggest the index has again slipped below its breakout level, which remains a sentiment negative.

 

While technical indicators remain weak, fundamentals of the automobile industry remain robust ahead of the festival season. Dealers of passenger vehicles and two-wheelers expect double-digit growth to continue in the coming festival season, according to a study conducted by Nuvama Institutional Equities earlier this week.

 

Dealers expect growth in automobile sales to moderate in Oct-Mar. Moderation in demand for automobiles in rural India, especially in states where there is a rainfall deficit, is a key risk to overall sales. Sales could also be impacted because of the back-to-back price increases seen across categories.

 

TOP HEADLINES

* Aug auto retail sales up 18%; tractor sales flash distress signal, says FADA

* JLR to lay off 4,000 staff over 2 years amid rising competition, costs
* PV inventory build-up ahead of festival season not alarming - FADA president
* Maruti Suzuki to hike prices of select models by up to INR 20,000
* M&M Aug production up 28% YoY at 114,737 units, sales up 40% YoY
* Hyundai Motor inaugurates 120 kW EV charging stations in Delhi
* EV retail sales climb 53% in Aug to 298,448 units, says FADA
* SML Mahindra CV sales up 34% YoY at 1,095 units in August

* SML Mahindra eyes margin recovery by Q4, banks on price hike, cost control
* Uno Minda to Monday mull raising funds via NCDs
* Maruti Suzuki may look at Brazil flex-fuel mkt on low India sales - Official
* TVS Motor launches RTX 300 in Europe, price starting at 4,890 euros
* ASK Automotive JV starts commercial production at Rajasthan unit
* Ola Electric OKs enabling resolution to raise up to INR 15 bln via equity
* Eicher Motors August motorcycle sales rise 11% on year, exports up 10%
* Eicher Motors launches Royal Enfield Himalayan 440 at INR 229,000 ex-showroom
* More flex fuel-run two-wheeler models on the anvil - Hero MotoCorp official
* CIE Automotive acquires 6.9 mln shares in wholly owned arm for INR 1.21 bln
* Ola Electric opens dealer stores across India; aims over 500 stores

 

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	417.65	(-)2.80	425.20	406.30
Ashok Leyland	163.75	(-)3.10	168.00	157.90
Bajaj Auto	11678.00	(-)2.00	11837.30	11449.30
Balkrishna Industries	2164.60	(-)5.30	2204.10	2136.70
Bharat Forge	1944.90	(-)0.60	1973.10	1894.50
Bosch	48385.00	3.30	49355.00	47595.00
Eicher Motors	7530.00	(-)1.30	7667.30	7461.30
Exide Industries	412.65	(-)2.80	421.20	407.20
Hero MotoCorp	5221.50	(-)1.50	5273.80	5159.80
Mahindra & Mahindra	3107.00	(-)2.00	3155.20	3045.00
Maruti Suzuki India	12400.00	(-)2.30	12600.70	12280.70
MRF	128290.00	(-)1.30	129773.30	126273.30
Samvardhana Motherson International	164.45	2.30	168.50	158.70
Tata Motors	434.55	(-)5.20	443.90	420.70
Tata Motors Passenger Vehicles	301.10	(-)3.30	308.60	292.80
Tvs Motor Co.	4125.00	(-)0.20	4202.30	4024.10
Index	Levels
Nifty Auto	27304.50	(-)1.50	27578.90	26957.80
Nifty 50	23398.10	(-)2.10	23575.90	23142.50
BSE Sensex	74781.76	(-)2.30	75376.70	73862.70

 

End

 

Reported by Anand JC

Edited by Shubhayan Bhattacharya

 

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