Auto Stocks Under Pressure: Bajaj Auto, M&M, Escorts Kubota Technical Outlook

Auto stocks are under pressure as the Nifty Auto index emerges as one of the session’s biggest laggards following mixed September sales numbers. M&M reported a 15% rise in total sales, while tractor sales declined 21%. Escorts Kubota also saw sales fall, while Bajaj Auto reported strong exports but weaker domestic sales. Gaurav Bissa, Senior Vice President, Equity Advisor, InCred Capital, says the Nifty Auto index has seen a fresh technical breakdown and cautions that further pressure may remain. He also highlights key levels for Escorts Kubota, M&M and Bajaj Auto, with Bajaj Auto facing additional pressure below ₹10,000.