IREDA, IRFC, Dredging Corporation, Garden Reach, NMDC, REC and RITES Share Price in Focus after Friday's Selling
IREDA, Dredging Corporation, IRFC, Garden Reach Shipbuilders, NMDC, REC, GAIL, BHEL, BEML and RITES were among major losers among PSU stocks on Friday as there was a sell-off in the public sector stocks. While overall markets declined by 0.86 percent, public sector stocks witnessed selling across the board. Nasdaq Composite jumped 216.90 points on Friday and we can expect Indian markets to open positive on Monday as global market sentiment is neutral. If markets trade positive on Monday, we can expect recovery in some of the PSU counters. TopNews Team has reviewed technical levels for some of the public sector stocks for traders and short term investors.
Quick Analysis for Popular PSU Stocks
IREDA
- Price currently hovers around Rs 171–174, near critical Fibonacci support. - A move below Rs 170.20 could signal short-term weakness. - Bulls need to reclaim Rs 174.05 to regain momentum.
Dredging Corporation
- Currently consolidating between Rs 608.76 and Rs 596.35. - Watch for a breakout above Rs 608.76 to turn bullish again. - Failure to hold Rs 590.80 could deepen the correction.
Garden Reach Shipbuilders
- GRSE trades near Rs 1668.40, a key Fibonacci pivot. - A firm close above Rs 1705.68 may trigger upside continuation. - Breach below Rs 1651.74 might invite further selling pressure.
NMDC
- NMDC is nearing strong short-term support at Rs 65.96. - Bulls must protect Rs 65.96 to avoid revisiting Rs 64.30. - Resistance for any rebound lies near Rs 67.62.
REC
- REC price action is sandwiched between Rs 431.18 and Rs 437.52. - Sustained trade above Rs 437.52 can accelerate bullish sentiment. - Support seen around Rs 428.34 for short-term pullbacks.
IRFC
- IRFC is consolidating tightly around Rs 130.18–132.27 levels. - Breakout above Rs 132.27 could offer immediate upside. - Caution if it slips below Rs 129.25 support zone.
RITES
- RITES stabilizing between Rs 235.79 and Rs 240.06. - Holding above Rs 235.79 keeps the uptrend intact. - Immediate resistance emerges at Rs 240.06.
Fibonacci Retracement Levels
| Stock | 0.0% | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% |
|---|---|---|---|---|---|---|
| IREDA | Rs 176.43 | Rs 174.05 | Rs 172.58 | Rs 171.39 | Rs 170.20 | Rs 166.35 |
| Dredging Corporation | Rs 619.85 | Rs 608.76 | Rs 601.90 | Rs 596.35 | Rs 590.80 | Rs 572.85 |
| Garden Reach Shipbuilders | Rs 1739.00 | Rs 1705.68 | Rs 1685.06 | Rs 1668.40 | Rs 1651.74 | Rs 1597.80 |
| NMDC | Rs 68.64 | Rs 67.62 | Rs 66.98 | Rs 66.47 | Rs 65.96 | Rs 64.30 |
| REC | Rs 443.20 | Rs 437.52 | Rs 434.01 | Rs 431.18 | Rs 428.34 | Rs 419.15 |
| IRFC | Rs 134.14 | Rs 132.27 | Rs 131.11 | Rs 130.18 | Rs 129.25 | Rs 126.22 |
| RITES | Rs 243.89 | Rs 240.06 | Rs 237.70 | Rs 235.79 | Rs 233.87 | Rs 227.68 |
Important Quarterly Results
| Security Name | Company Name |
|---|---|
| ABSLAMC | Aditya Birla Sun Life AMC Ltd |
| ADANIGREEN | Adani Green Energy Ltd |
| ATGL | Adani Total Gas Ltd |
| AWL | Adani Wilmar Ltd |
| BENARAS | Benares Hotels Ltd |
| CASTROLIND | Castrol India Ltd |
| CCCL | Consolidated Construction Consortium Ltd |
| CENTRALBK | Central Bank of India |
| CSBBANK | CSB Bank Ltd |
| DHARNI | Dharni Capital Services Ltd |
| DOLPHIN | Dolphin Offshore Enterprises (India) Ltd |
| ENBETRD | Enbee Trade & Finance Ltd |
| ENKEIWHEL | Enkei Wheels (India) Ltd |
| FINOPB | Fino Payments Bank Ltd |
| FSL | Firstsource Solutions Ltd |
| GLHRL | Global Longlife Hospital and Research Ltd |
| GODIGIT | Go Digit General Insurance Ltd |
| GREENPLY | Greenply Industries Ltd |
| HATSUN | Hatsun Agro Product Ltd |
| HEXT | Hexaware Technologies Ltd |
| IDBI | IDBI Bank Ltd |
| IIFLCAPS | IIFL Capital Services Ltd |
| INDGN | Indegene Ltd |
| INTEGHIT | Integrated Hitech Ltd |
| IRFC | Indian Railway Finance Corporation Ltd |
| KFINTECH | KFin Technologies Ltd |
| KPITTECH | KPIT Technologies Ltd |
| NAM-INDIA | Nippon Life India Asset Management Ltd |
| NITCO | Nitco Ltd |
| OBEROIRLTY | Oberoi Realty Ltd |
| PLASTIBLEN | Plastiblends India Ltd |
| PNBHOUSING | PNB Housing Finance Ltd |
| REGENCY | Regency Fincorp Ltd |
| RPGLIFE | RPG Life Sciences Ltd |
| SANGHIIND | Sanghi Industries Ltd |
| SECMARK | SecMark Consultancy Ltd |
| SHIVACEM | Shiva Cement Ltd |
| SHREDIGCEM | Shree Digvijay Cement Company Ltd |
| SHRIGANG | Shri Gang Industries & Allied Products Ltd |
| SRAMSET | Shriram Asset Management Company Ltd |
| TANFACIND | TANFAC Industries Ltd |
| TLL | Trident Lifeline Ltd |
| TRISHAKT | Trishakti Industries Ltd |
| TVSHLTD | TVS Holdings Ltd |
| TVSMOTOR | TVS Motor Company Ltd |
| UCOBANK | UCO Bank |
| ULTRACEMCO | UltraTech Cement Ltd |
| VEEFIN | Veefin Solutions Ltd |
| VIMTALABS | Vimta Labs Ltd |
