BEML, SAIL, RCF, Power Finance, IREDA Share Price Jumps as Markets Recover
BEML, SAIL, RCF, Power Finance, IREDA, Rail Vikas Nigam and BHEL were among major gainers during early trades on Thursday. Indian markets showed signs of recovery during the afternoon session yesterday and we are seeing continuation of recovery in today's trade. Power Finance and IREDA recovered from lows yesterday and a pullback rally was expected. Today, public sector companies were among major gainers and volumes were strong during the early session.
Market Data for PSU Stocks
| Stock | Open | High | Low | 52-wk High | 52-wk Low |
|---|---|---|---|---|---|
| SAIL | Rs 105.38 | Rs 110.30 | Rs 104.95 | Rs 175.35 | Rs 99.15 |
| IREDA | Rs 175.23 | Rs 180.90 | Rs 174.99 | Rs 310.00 | Rs 121.05 |
| BEML | Rs 2,890.05 | Rs 3,014.00 | Rs 2,890.05 | Rs 5,488.00 | Rs 2,671.90 |
| Power Finance Corporation | Rs 377.00 | Rs 387.75 | Rs 376.10 | Rs 580.00 | Rs 351.70 |
| RCF | Rs 142.89 | Rs 147.80 | Rs 139.69 | Rs 245.00 | Rs 118.40 |
SAIL
SAIL has been trading within a volatile range, with recent resistance near Rs 110.30 and support at Rs 104.95.
Fibonacci retracement suggests key support at Rs 107.63 (50% level), which could act as a bounce-back point if selling pressure intensifies.
A break above Rs 110.30 could push the stock toward higher resistance near Rs 115, while failure to hold Rs 104.95 may lead to further downside toward Rs 102.
IREDA
IREDA has been consolidating near its recent highs, with Rs 180.90 acting as a near-term resistance level.
Fibonacci levels indicate Rs 177.00 (50% retracement) as a key level to watch, with strong support forming near Rs 175.91 (78.6% level).
If the stock breaks above Rs 180.90, it could resume its uptrend toward Rs 190, while a drop below Rs 174.99 may signal short-term weakness.
BEML
BEML has been showing strength near Rs 3,014, with Fibonacci retracement levels indicating Rs 2,952.03 (50% level) as a crucial support zone.
If the stock holds above Rs 2,981.83 (23.6% level), an upward breakout could take it toward Rs 3,100 and beyond.
However, failure to sustain above Rs 2,890.05 could lead to further downside toward Rs 2,850.
Fibonacci Levels for Traders
Fibonacci Levels for SAIL
| Level | Price |
|---|---|
| 23.6% | Rs 109.15 |
| 38.2% | Rs 107.96 |
| 50.0% | Rs 107.63 |
| 61.8% | Rs 107.30 |
| 78.6% | Rs 106.87 |
Fibonacci Levels for IREDA
| Level | Price |
|---|---|
| 23.6% | Rs 178.78 |
| 38.2% | Rs 177.45 |
| 50.0% | Rs 177.00 |
| 61.8% | Rs 176.55 |
| 78.6% | Rs 175.91 |
Fibonacci Levels for BEML
| Level | Price |
|---|---|
| 23.6% | Rs 2,981.83 |
| 38.2% | Rs 2,957.36 |
| 50.0% | Rs 2,952.03 |
| 61.8% | Rs 2,946.69 |
| 78.6% | Rs 2,939.20 |
Power Finance Corporation
Fibonacci Levels for Power Finance Corporation
| Level | Price |
|---|---|
| 23.6% | Rs 383.37 |
| 38.2% | Rs 381.45 |
| 50.0% | Rs 380.48 |
| 61.8% | Rs 379.51 |
| 78.6% | Rs 378.23 |
Fibonacci Levels for RCF
| Level | Price |
|---|---|
| 23.6% | Rs 145.69 |
| 38.2% | Rs 144.58 |
| 50.0% | Rs 144.03 |
| 61.8% | Rs 143.48 |
| 78.6% | Rs 142.73 |
Power Finance Corporation
Power Finance Corporation has been trading within a defined range, with Rs 387.75 acting as short-term resistance.
The Fibonacci 50% retracement at Rs 380.48 is a critical level, indicating a potential bounce if the stock corrects further.
A break above Rs 387.75 could take the stock toward Rs 400, while failing to hold Rs 376.10 may push it lower toward Rs 370.
RCF (Rashtriya Chemicals and Fertilizers)
RCF has been attempting to break past Rs 147.80, with Fibonacci retracement levels highlighting Rs 144.03 (50% level) as an important support zone.
A strong move above Rs 147.80 could lead to Rs 150+, while a failure to sustain above Rs 139.69 may trigger further downside.
The 78.6% Fibonacci level at Rs 142.73 could serve as a make-or-break point for traders looking for a breakout opportunity.
