RITES, NALCO, IRFC, IREDA, BHEL, BEML were among winner in the PSU segment during Wednesday's session. Many of these stocks have been facing selling pressure for a few weeks with some touching yearly lows during the last few trading sessions. The recovery in majority of PSU companies turns today's session into an important one because this will suggest the future technical levels for these stocks. If the upside momentum continues, we can see the recent lows as strong support for IREDA, BHEL and BEML. TopNews team has conducted check on technical charts for traders and short term investors.

Key Levels and key insights for Top Performing Public Sector Stocks

RITES

Technical Positioning: RITES is trading near its 52-week low (Rs 200.50), making it a potential rebound candidate if it holds above key Fibonacci levels.
Key Support & Resistance: Immediate support at Rs 250.65 (23.6% retracement), while resistance is at Rs 367.51 (78.6% retracement).
Valuation: With a P/E ratio of 30.05 and a dividend yield of 3.46%, RITES offers both moderate growth potential and a stable dividend.

IREDA

Stock Volatility: IREDA has seen a wide price range from Rs 121.05 to Rs 310.00, indicating high volatility.
Key Levels to Watch: Support at Rs 165.64 (23.6%), while breaking above Rs 269.56 (78.6%) could lead to a breakout towards new highs.
Growth Potential: A P/E ratio of 29.79 suggests that the stock is priced for growth, but investors should watch for valuation risks in a rising rate environment.

IRFC

Long-Term Uptrend: IRFC has held above Rs 116.65 (52-week low), with Fibonacci support at Rs 143.16 (23.6%).
Near-Term Resistance: The next resistance zone is at Rs 204.96 (78.6%), which could act as a major hurdle for further price gains.
Attractive Dividend: A dividend yield of 1.21% makes IRFC a stable investment, while the P/E ratio of 24.86 keeps it reasonably valued.

BEML

Highly Volatile Stock: With a 52-week range of Rs 2536.55 to Rs 5488.00, BEML has seen strong price swings.
Support & Resistance Zones: Key support lies at Rs 3233.09 (23.6% retracement), while breaking Rs 4856.39 (78.6%) could push it towards new highs.
Premium Valuation: A P/E ratio of 42.19 suggests a high valuation, indicating that investors may be expecting strong earnings growth.

BHEL

Bearish Sentiment: BHEL is currently trading near its 52-week low (Rs 183.19), making it a potential value play.
Fibonacci Levels: Support is at Rs 219.10 (23.6%), while a break above Rs 302.79 (78.6%) could trigger an uptrend.
Overvalued?: A high P/E ratio of 130.87 raises concerns about its valuation, but a dividend yield of 0.13% suggests it is not a strong income stock.

NALCO

Strong Rebound Potential: With a 52-week low at Rs 130.25, NALCO has been trading at higher support levels.
Fibonacci Watch: Critical support at Rs 177.57, while breaking Rs 262.99 could open doors for an extended rally.
Fundamental Strength: A low P/E ratio of 8.17 and a dividend yield of 5.35% make it an undervalued stock with strong income potential.

Fibonacci Retracement Levels