MTNL, SBI and IREDA were trading positive on Monday. Indian markets opened flat on Monday and markets are looking for cues for next major move. Over the last two weeks, markets have turned cautious and volatility has remained high. TopNews team has conducted Fibonacci analysis of some of the Public Sector stocks for short term traders.

Stock Analysis with Fibonacci Levels
MTNL
Current Performance: MTNL, with a market cap of Rs 3.18KCr, has a recent high of Rs 51.45 and low of Rs 47.50. The stock has witnessed limited movement but remains a speculative choice due to its absence of a P/E ratio and dividend yield.
Fibonacci Analysis:
Level 1 (23.6%): Rs 50.52
Level 2 (38.2%): Rs 49.94
Level 3 (50%): Rs 49.48
Level 4 (61.8%): Rs 49.01
Investor Insights: MTNL could see resistance near Rs 51.45. Conservative investors may consider waiting for stronger technical signals.
Garden Reach Shipbuilders
Current Performance: Trading between Rs 1,495 and Rs 1,548, this shipbuilding stock with a market cap of Rs 17.10KCr is supported by a P/E ratio of 45.88 and modest dividend yield of 0.61%.
Fibonacci Analysis:
Level 1 (23.6%): Rs 1,535.49
Level 2 (38.2%): Rs 1,527.75
Level 3 (50%): Rs 1,521.50
Level 4 (61.8%): Rs 1,515.25
Investor Insights: Expect potential support around Rs 1,515. Garden Reach remains an attractive pick for long-term value seekers in defense-related projects.
SBI
Current Performance: SBI, with a robust market cap of Rs 6.91LCr, trades near Rs 773.30, boasting a strong P/E ratio of 9.63 and a dividend yield of 1.77%.
Fibonacci Analysis:
Level 1 (23.6%): Rs 772.01
Level 2 (38.2%): Rs 771.22
Level 3 (50%): Rs 770.58
Level 4 (61.8%): Rs 769.93
Investor Insights: The stock faces resistance at Rs 773.30. Investors can look for breakout opportunities or dips toward Rs 769 levels for accumulation.
IREDA
Current Performance: IREDA, a key player in renewable energy, trades between Rs 206.26 and Rs 209.35. Its market cap of Rs 55.25KCr and P/E ratio of 36.38 indicate growth potential.
Fibonacci Analysis:
Level 1 (23.6%): Rs 208.62
Level 2 (38.2%): Rs 208.17
Level 3 (50%): Rs 207.81
Level 4 (61.8%): Rs 207.44
Investor Insights: IREDA is gaining traction with renewable energy focus. Consider entries near Rs 207 levels.
NTPC
Current Performance: NTPC, trading between Rs 324.55 and Rs 330.55, holds a market cap of Rs 3.19LCr. Its P/E ratio of 14.41 and 2.09% dividend yield offer stability.
Fibonacci Analysis:
Level 1 (23.6%): Rs 329.13
Level 2 (38.2%): Rs 328.26
Level 3 (50%): Rs 327.55
Level 4 (61.8%): Rs 326.84
Investor Insights: Watch for support at Rs 326.84. NTPC is a long-term pick with stable dividends.
RCF
Current Performance: RCF, with a market cap of Rs 9.17KCr, trades between Rs 168.88 and Rs 171.22. The P/E ratio is at 48.15, reflecting its growth trajectory.
Fibonacci Analysis:
Level 1 (23.6%): Rs 170.70
Level 2 (38.2%): Rs 170.16
Level 3 (50%): Rs 170.05
Level 4 (61.8%): Rs 169.94
Investor Insights: Accumulate near Rs 170. Low dividends make this a growth-oriented play.
BEML
Current Performance: Trading between Rs 3,630.05 and Rs 3,682.00, BEML has a market cap of Rs 15.14KCr. Its P/E ratio of 53.64 signifies high growth expectations.
Fibonacci Analysis:
Level 1 (23.6%): Rs 3,670.33
Level 2 (38.2%): Rs 3,659.42
Level 3 (50%): Rs 3,656.02
Level 4 (61.8%): Rs 3,652.63
Investor Insights: BEML’s alignment with infrastructure projects makes it a strong candidate. Look for pullbacks near Rs 3,652.63.