IREDA, REC, MMTC, HUDCO, BHEL, IDBI Bank Shares in Focus Today
IREDA, REC, MMTC, HUDCO, BHEL, IDBI Bank were among biggest losers from public sector stocks on Friday. Some of these stocks are currently near their critical supports levels and can give a decent bounce in today's session. TopNews has reviewed technical charts and Fibonacci levels for these stocks for short term traders. In case the overall trend in the market remains bearish on Monday, we can expect further weakness in these counters.
| Stock | Open | High | Low | Market Cap | P/E Ratio | Dividend Yield | 52-Wk High | 52-Wk Low |
|---|---|---|---|---|---|---|---|---|
| IREDA | Rs 218.00 | Rs 222.86 | Rs 198.61 | 54.13KCr | 36.96 | - | Rs 310.00 | Rs 101.20 |
| REC | Rs 490.10 | Rs 492.20 | Rs 454.45 | 1.21LCr | 8.13 | 3.70% | Rs 654.00 | Rs 408.30 |
| MMTC | Rs 73.77 | Rs 73.99 | Rs 70.00 | 10.52KCr | 51.24 | - | Rs 131.80 | Rs 62.15 |
| HUDCO | Rs 226.01 | Rs 226.78 | Rs 213.26 | 42.88KCr | 17.44 | 1.93% | Rs 353.70 | Rs 122.70 |
| BHEL | Rs 216.38 | Rs 216.65 | Rs 203.11 | 71.20KCr | 303.51 | 0.12% | Rs 335.35 | Rs 192.00 |
| IDBI Bank | Rs 73.25 | Rs 73.45 | Rs 68.85 | 74.63KCr | 11.06 | 2.16% | Rs 107.90 | Rs 66.45 |
IREDA
IREDA is showing strength with a recent high of Rs 222.86, indicating bullish momentum. The Fibonacci retracement levels suggest key support levels around Rs 210.74 and Rs 207.87. The stock remains well-positioned for growth, with its 52-week high significantly above the current range.
REC
REC’s high of Rs 492.20 indicates resilience, with strong buying interest at lower levels. Fibonacci levels highlight potential support at Rs 473.32 and Rs 468.87, offering good entry points for investors. With a robust dividend yield of 3.70%, REC remains a strong candidate for income-focused portfolios.
MMTC
MMTC’s price movement suggests consolidation, with a narrow range between Rs 70 and Rs 73.99. Key Fibonacci supports at Rs 72.0 and Rs 71.52 can act as critical levels for future price action. The stock’s P/E ratio of 51.24 indicates high valuation, requiring strong earnings growth to sustain momentum.
HUDCO
HUDCO has seen a recent high of Rs 226.78, supported by strong fundamentals and market sentiment. Fibonacci retracement levels at Rs 220.02 and Rs 218.42 may serve as key support zones for investors. The company’s dividend yield of 1.93% adds to its attractiveness for long-term holders.
BHEL
BHEL’s high of Rs 216.65 reflects stable performance amidst broader market volatility. The Fibonacci levels at Rs 209.88 and Rs 208.28 provide significant support for maintaining its uptrend. With a P/E ratio of 303.51, the stock demands caution despite its solid market capitalization.
IDBI Bank
IDBI Bank’s high of Rs 73.45 shows potential for upward movement in the near term. Fibonacci levels suggest strong support around Rs 71.15 and Rs 70.61, making these critical levels to watch. The bank’s dividend yield of 2.16% enhances its appeal to income-focused investors.
