ONGC, RCF, NALCO, HMT, IREDA Share Prices Recover After Yesterday's Selling
ONGC, RCF, NALCO, HMT, IREDA shares were among top gainers in PSU segment after yesterday's sell-off. Indian markets were trading firm during early trades on Tuesday and we can expect markets to recover in case we hold critical 23,650 level for NSE Nifty. ONGC stock was trading 4.3 percent higher while RCF, HMT, NALCO and MRPL were trading with more than 3 percent gains. TopNews recently reported that IREDA has major support at Rs 200 while ONGC has major support at Rs 250. ONGC could also see Rs 375 levels in medium term as the stock is looking strong fundamentally.
Pricing for Some of the Top Performing Public Sector Stocks
| Stock | Open (Rs) | High (Rs) | Low (Rs) | Market Cap (Rs Cr) | P/E Ratio | Dividend Yield (%) | 52-Week High (Rs) | 52-Week Low (Rs) |
|---|---|---|---|---|---|---|---|---|
| NALCO | 201.49 | 207.55 | 201.00 | 37.78KCr | 12.18 | 3.89% | 262.99 | 121.85 |
| Rashtriya Chemicals and Fertilizers (RCF) | 169.00 | 178.40 | 169.00 | 9.83KCr | 50.09 | 0.70% | 245.00 | 118.40 |
| ONGC | 259.15 | 267.40 | 258.05 | 3.34LCr | 7.42 | 4.71% | 345.00 | 209.70 |
| IREDA | 215.70 | 221.73 | 213.64 | 58.72KCr | 39.69 | - | 310.00 | 101.20 |
Fibonacci Levels for Each Stock
NALCO
0% (52-week low): Rs 121.85
23.6% Retracement: Rs 155.16
38.2% Retracement: Rs 175.77
50.0% Retracement: Rs 192.42
61.8% Retracement: Rs 209.07
100% (52-week high): Rs 262.99
Key Insights:
A move above Rs 209.07 could signal further momentum toward Rs 262.99.
Watch for support near Rs 192.42 for accumulation.
Short-term traders can target Rs 175.77 for profits.
Rashtriya Chemicals and Fertilizers (RCF)
0% (52-week low): Rs 118.40
23.6% Retracement: Rs 148.28
38.2% Retracement: Rs 166.76
50.0% Retracement: Rs 181.70
61.8% Retracement: Rs 196.64
100% (52-week high): Rs 245.00
Key Insights:
Resistance at Rs 181.70 is critical for a bullish breakout.
A retracement to Rs 148.28 provides a buying opportunity.
Long-term investors should watch Rs 196.64 as a target.
ONGC
0% (52-week low): Rs 209.70
23.6% Retracement: Rs 241.63
38.2% Retracement: Rs 261.38
50.0% Retracement: Rs 277.35
61.8% Retracement: Rs 293.32
100% (52-week high): Rs 345.00
Key Insights:
Sustaining above Rs 261.38 can lead to Rs 293.32.
A correction to Rs 241.63 may provide a good entry point.
Rs 277.35 acts as an intermediate resistance for traders.
IREDA
0% (52-week low): Rs 101.20
23.6% Retracement: Rs 150.48
38.2% Retracement: Rs 180.96
50.0% Retracement: Rs 205.60
61.8% Retracement: Rs 230.24
100% (52-week high): Rs 310.00
Key Insights:
A breakout above Rs 230.24 may target Rs 310.00.
Rs 205.60 is a crucial support level to watch.
Traders can aim for Rs 180.96 as a short-term pullback target.
