Maruti Suzuki’s shares declined over 5 per cent on Tuesday after the company reported its monthly sales data for August, wherein its exports fell over 7 per cent on a yearly basis.
As of 02:18 PM, the company’s share price was down 4.88 per cent to ₹12,882; meanwhile, Nifty 50 was trading 0.48 per cent lower at 23,965.75. Intraday, the stock has fallen 5.13 per cent to ₹12,851
Domestic passenger vehicle (PV) sales rose 34.8 per cent Y-o-Y to 176,971 units, supported by a strong 46.3 per cent Y-o-Y increase in utility-vehicle volumes to 79,045 units, while passenger-car sales increased 29.4 per cent to 85,965 units. Exports, however, declined 7.4 per cent Y-o-Y to 33,844 units during the period under review.
Cumulative sales for April-August FY27 reached 1.14 million units, up 28.6 per cent Y-o-Y from 889,070 units. Domestic PV volumes during the period increased 35.6 per cent Y-o-Y to 898,402 units, while exports were also higher on a cumulative basis at 188,636 units versus 165,255 units a year earlier.
Pravesh Gour, senior technical analyst at Swastika, noted that Maruti’s chart indicates a weakening technical structure, with the price currently around 12,996 after breaking below the rising trendline that had been supporting the recent consolidation.
The recent fall is accompanied by weakness in the short-term moving averages, with the price trading below the 9-DMA, 20-DMA and 50-DMA, suggesting that near-term momentum has turned bearish. The stock/index is also struggling around the ₹13,200–₹13,300 zone, which now becomes an immediate resistance area, he added.
Gour explained that the MACD is in negative territory and has given a bearish crossover, with the MACD line moving below its signal line. This confirms that momentum has deteriorated and supports the possibility of further consolidation or downside in the near term.
“On the downside, ₹12,800–₹12,750 is the immediate support zone. A decisive break below this area could open the way towards ₹12,500–₹12,400, followed by the stronger support around 12,200. On the upside, ₹13,200–₹13,300 will be the first hurdle, followed by ₹13,500–₹13,600. A sustained move above ₹13,600 would be required to improve the technical setup and bring ₹13,900–₹14,000 into focus,” he said.
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