IREDA, IRFC, REC, NALCO, NTPC Green Energy, BHEL, SAIL, HUDCO Share Price Declines as Overall Markets Remain Bearish
IREDA, REC, NALCO, NTPC Green Energy, BHEL, IRFC and SAIL were among major losers among public sector stocks in today's session as overall markets witnessed selling pressure. While NSE Nifty was trying from recover from selling pressure twice during today's session, the selling in different sectors led to 243 point decline for the benchmark index. Nifty touched an intraday low at 22,518 and closed at 22,552, suggesting a weak outlook for the markets. US markets opened negative on Monday and we can expect further selling in Indian markets on Tuesday. There is a chance for a relief rally in Indian stocks as we have witnessed a lot of selling in some stocks and a technical pullback is quite likely.
Key Insights for Public Sector Stocks
NALCO: NALCO shows a strong potential for upside movement if it maintains support around Rs 198. Immediate resistance is seen near Rs 210. Any break above Rs 210 could target Rs 230.
SAIL: SAIL has strong support near Rs 108. A breakout above Rs 115 could lead to further gains toward Rs 125. Caution is advised if the stock dips below Rs 107.
NTPC Green Energy: NTPC Green Energy remains stable with immediate support at Rs 98. Key resistance lies near Rs 106. A breach above Rs 106 could lead to further bullish momentum.
REC: REC is showing resilience around Rs 390 support. A rise above Rs 405 could drive the stock toward Rs 425. Investors should be cautious if it falls below Rs 385.
IREDA: IREDA’s strong support at Rs 172 offers buying opportunities. Resistance is seen near Rs 180. A breakout above Rs 180 may lead to a run toward Rs 190.
IRFC: IRFC is showing bullish potential if support around Rs 123 holds. Resistance lies at Rs 130. A breakout above Rs 130 may drive the stock toward Rs 140.
Stock Performance
| Stock | Open (Rs) | High (Rs) | Low (Rs) | Mkt Cap | P/E Ratio | Dividend Yield | 52-Week High (Rs) | 52-Week Low (Rs) |
|---|---|---|---|---|---|---|---|---|
| NALCO | 54.60 | 54.70 | 53.45 | 34.78KCr | 8.27 | 5.29% | 262.99 | 130.25 |
| SAIL | 111.10 | 112.17 | 107.65 | 44.73KCr | 19.88 | 1.85% | 175.35 | 99.15 |
| NTPC Green Energy | 102.12 | 103.23 | 96.20 | 83.00KCr | - | - | 155.35 | 96.20 |
| REC | 398.95 | 398.95 | 389.25 | 1.03LCr | 6.60 | 4.29% | 654.00 | 375.70 |
| IREDA | 174.90 | 175.60 | 171.12 | 46.25KCr | 30.15 | - | 310.00 | 121.05 |
| IRFC | 124.39 | 125.15 | 122.50 | 1.61LCr | 24.70 | 1.22% | 229.00 | 116.65 |
Fibonacci Levels for High Volume PSU Stocks
| Stock | 23.6% Level | 38.2% Level | 50.0% Level | 61.8% Level | 76.4% Level |
|---|---|---|---|---|---|
| NALCO | 168.17 | 187.89 | 196.62 | 205.35 | 224.89 |
| SAIL | 124.38 | 137.84 | 150.25 | 162.66 | 176.54 |
| NTPC Green Energy | 109.10 | 115.50 | 125.78 | 136.06 | 142.45 |
| REC | 445.38 | 505.21 | 569.85 | 634.49 | 694.32 |
| IREDA | 183.58 | 211.74 | 245.53 | 279.32 | 307.47 |
| IRFC | 139.17 | 151.52 | 172.32 | 193.12 | 205.47 |
