HPCL, BHEL, Dredging Corporation, REC, BEML, SBI and BEL were among public sector stocks that recovered smartly on Tuesday after facing continued selling pressure over the last few trading sessions. HPCL stock jumped nearly 5.9 percent to close the session at Rs 315. The stock has recently recovered from yearly lows at Rs 287. BHEL jumped 3.5 percent. The stock has declined 8 percent over last one month. REC, BEML and Dredging Corporation jumped by nearly 3 percent. TopNews Team has reviewed technical levels for these stocks for short term investors and traders to plan their trading on these counters.

Stock Analysis and Fibonacci Levels

HPCL

Market Overview: HPCL is currently trading between Rs. 290.10 and Rs. 316.40, with a 52-week range of Rs. 287.55 to Rs. 457.15.
Fibonacci Insights: Key retracement levels suggest that Rs. 372.35 (50%) and Rs. 392.36 (61%) could act as significant resistance points.
Investment Insight: The stock is hovering close to its 52-week low, making it a potential buy if it holds support, but investors should watch for a breakout above resistance levels.

BHEL

Market Overview: BHEL's stock has fluctuated between Rs. 180.80 and Rs. 193.29 today, with a 52-week range of Rs. 176.00 to Rs. 335.35.
Fibonacci Insights: Resistance levels at Rs. 236.87 (38%) and Rs. 255.68 (50%) will be crucial for future movement.
Investment Insight: The stock is well below its 50% retracement, suggesting a cautious approach until it shows bullish confirmation.

Dredging Corporation

Market Overview: The stock has ranged from Rs. 511.05 to Rs. 552.35, with a yearly low of Rs. 495.65 and a high of Rs. 1,457.95.
Fibonacci Insights: If the price breaks Rs. 722.75 (23.6%), it could see a run toward Rs. 863.25 (38.2%).
Investment Insight: Trading close to the 52-week low makes it a high-risk, high-reward opportunity.

BEML

Market Overview: BEML has moved between Rs. 2,364.40 and Rs. 2,516.85, with a wide 52-week range of Rs. 2,350.00 to Rs. 5,488.00.
Fibonacci Insights: Resistance is likely around Rs. 3,919.00 (50%) and Rs. 4,289.28 (61.8%).
Investment Insight: Long-term investors may find value in accumulating at lower levels while watching for confirmation of a trend reversal.

REC

Market Overview: REC’s price action today is between Rs. 366.00 and Rs. 391.55, while its 52-week low and high stand at Rs. 357.35 and Rs. 654.00.
Fibonacci Insights: Rs. 505.68 (50%) is a major resistance level to watch.
Investment Insight: Attractive valuation given the P/E ratio of 6.51; high dividend yield makes it suitable for income-focused investors.

SBI

Market Overview: SBI has been trading between Rs. 692.10 and Rs. 718.45, with a 52-week range of Rs. 680.00 to Rs. 912.00.
Fibonacci Insights: Rs. 796.00 (38%) and Rs. 846.00 (50%) are key levels.
Investment Insight: Strong banking fundamentals make SBI a long-term hold, but investors should wait for signs of a reversal.

BEL

Market Overview: BEL’s stock price has moved from Rs. 252.50 to Rs. 266.50, with a yearly low of Rs. 179.10 and a high of Rs. 340.50.
Fibonacci Insights: A breakout beyond Rs. 266.50 could push it toward Rs. 280.00 (38.2% retracement).
Investment Insight: A stable defense sector stock with growth potential; investors may consider dips for long-term accumulation.

Fibonacci Retracement Levels