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Nifty Auto index has witnessed the formation of 'Golden Cross' on the daily chart after a gap of more than six months. Technically, 'Golden Cross' is considered as a bullish signal, with further upside potential.
The term 'Golden Cross' also commonly referred as 'Golden Crossover' means that the 50-Day Moving Average (50-DMA), has now crossed the 200-DMA from below. This suggests that the support levels for the index are moving higher.
Apart from the Nifty Auto index, there are 5 auto stocks which witnessed a similar development on the daily charts in recent months. Mahindra & Mahindra and Ashok Leyland saw the formation of a 'Golden Cross' in the month of June; while Maruti, TVS Motor and MRF witnessed a similar pattern in May 2025.
Here's what the charts indicate for the Nifty Auto index and these 5 shares.
Nifty Auto
Current Level: 23,909
Likely Target: 26,000
Upside Potential: 8.8%
Support: 23,626; 23,319; 23,248; 23,156
Resistance: 24,200; 25,200
Following the 'Golden Crossover' the Nifty Auto 50-DMA is now quoting at 23,319 as against the 200-DMA, which stands at 23,248 levels. These are likely to act as near-term supports for now; below which the key support for the Nifty Auto index stands at 23,156 levels. Near support for the index exists at 23,626.
On the upside, the Nifty Auto index can potentially rally to 26,000 levels; with interim resistance seen around 24,200 and 25,200 levels.
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Maruti Suzuki India
Current Price: ₹12,543
Likely Target: ₹13,500
Upside Potential: 7.6%
Support: ₹12,455; ₹12,200
Resistance: ₹12,900; ₹13,050
Maruti stock is seen testing support around its 50-DMA, which stands at ₹12,455 levels; below which the bullish pivot for the stock stands at ₹12,200 levels. On the upside, the stock needs to break and trade consistently above ₹12,700 levels to regain upside momentum. The stock can potentially surge to ₹13,500, with intermediate resistance likely around ₹12,900 and ₹13,050 levels.
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Mahindra & Mahindra (M&M)
Current Price: ₹3,180
Likely Target: ₹3,600
Upside Potential: 13.2%
Support: ₹3,110; ₹3,060; ₹3,000
Resistance: ₹3,270; 3,400
M&M stock can potentially surge to ₹3,600 levels in the coming months, suggests the long-term chart. On its way up, the stock may face resistance around ₹3,270 and ₹3,400 levels. The bias at the counter is likely to remain favourable as long as the stock holds above ₹3,000-mark, with near support likely around ₹3,110 and ₹3,060 levels.
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TVS Motor Company
Current Price: ₹2,890
Likely Target: ₹3,450
Upside Potential: 19.4%
Support: ₹2,812; ₹2,783; ₹2,746
Resistance: ₹3,025; ₹3,215
TVS Motors share is likely to trade with a positive bias as long as the stock quotes above ₹2,746 levels; with near support seen at ₹2,812 and ₹2,783 levels. On the upside, the stock is seen trading close to the higher-end of the anticipated trading range on the monthly scale, which indicates likely resistance around ₹3,025.
In case, the stock manages to break above the higher-end of the Bollinger Bands, TVS Motor can potentially extend the rally towards ₹3,450 levels, with interim resistance around ₹3,215 levels.
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Ashok Leyland
Current Price: ₹252
Likely Target: ₹280
Upside Potential: 11.1%
Support: ₹245; ₹241; ₹238
Resistance: ₹270
Ashok Leyland seems on course to test the higher-end of the Bollinger Bands on the month chart, which indicates a target of ₹270; beyond which a spurt to ₹280 seems likely. The overall bias at the counter is likely to be positive as long as the stock holds above ₹238; with near support likely around ₹245 and ₹241 levels.
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MRF
Current Price: ₹1,42,750
Likely Target: ₹1,52,000
Upside Potential: 6.5%
Support: ₹1,38,840; ₹1,35,400
Resistance: ₹1,49,570
MRF stock is likely to trade with a positive bias as long as the stock trades above ₹1,35,480 levels; with interim support likely around 1,38,840 levels. On the upside, the stock faces an overhead resistance around ₹1,49,570 levels; above which MRF can potentially towards ₹1,52,000 levels.
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