The Nifty Auto index closed 0.34 per cent down at 13220.65.

“While Maruti Suzuki currently has almost 377,000 pending bookings, for the industry there are 700,000 to 750,000 pending bookings. There is one caveat though; the production has to be in line with this underlying demand pattern because model-wise and segment-wise demand is quite different and therefore the production has to adjust accordingly if the industry has to do well.”

The 30-share BSE Sensex closed up 36.74 points at 58803.33

The Nifty Realty index closed 0.18 per cent down at 467.35.

The 30-share BSE Sensex closed up 36.74 points at 58803.33

The Nifty IT index closed 0.36 per cent down at 27745.8.

The Nifty Pharma index closed 0.39 per cent down at 12506.15.

The index needs a push above 18,100 for a rally to truly blossom and once this happens, it will be a one-way ride to 18,600-18,900. There could be a lot of choppiness between 17,900 and 17,600.It is better to have a longer holding period and smaller position size and wait for that moment when Nifty50 could gap up and stay elevated for a prolonged period," Shah said.