LIC Housing Finance, Tata Chemicals, Tata Motors and IRCTC were among popular stocks that touched yearly lows today as selling in Indian markets continued. The market sentiment has turned strongly bearish and many stocks are currently in oversold category. However, traders and short term investors should only consider entering once the trend reverses. Jumping in at current levels could lead to loss as many stocks could see further downside in case markets remain bearish. Many market participants are expecting further downside for benchmark indices over the next few trading sessions and this could lead to further decline in select stocks. IndusInd Bank hasn't touched yearly low but the stock is looking bearish on the technical charts.

Stock-Specific Insights

LIC Housing Finance
At Rs 508.75, it’s hugging the 52-week low, signaling a potential bottom—watch for a bounce toward Rs 618.54 (61.8% Fibonacci).
The 5.31 P/E ratio screams undervaluation, but housing sector headwinds could cap upside unless interest rates ease.
Accumulate near Rs 492.85 with a stop-loss below; a break above Rs 510 hints at a rally to Rs 659.80.
Tata Chemicals
Trading at Rs 799.90, it’s testing the 100% Fibonacci level (Rs 765)—a breach below could spell trouble, but support looks firm.
No P/E ratio yet reflects its transitional phase; the 1.92% yield offers a cushion for patient investors.
Buy dips near Rs 765 targeting Rs 976.93 (61.8%), but chemical sector volatility demands tight risk management.
Tata Motors
At Rs 645, it’s near the 52-week low (Rs 618.45)—a Fibonacci reversal to Rs 824.14 (61.8%) is plausible if EV momentum kicks in.
A 5.45 P/E and massive Rs 2.28L Cr market cap highlight its value, though the low 0.48% yield prioritizes growth over income.
Enter long near Rs 620 with an eye on Rs 898.73 (50%), but brace for auto sector turbulence.
Indusind Bank
At Rs 1,040, it’s above the 52-week low (Rs 923.70) but shy of Rs 1,175.78 (61.8%)—a breakout could target Rs 1,250.03.
The 10.45 P/E and 1.70% yield balance growth and income, yet microfinance stress lingers as a risk.
Buy above Rs 1,040.65 for a push to Rs 1,324.27 (38.2%), with a stop below Rs 970.
IRCTC
Sitting at Rs 689.90, it’s near the floor (Rs 661.55)—a rebound to Rs 840.71 (61.8%) could follow if tourism picks up.
A lofty 43.48 P/E reflects premium pricing; the 1.33% yield is modest for its monopoly status.
Hold for a surge past Rs 691.95 toward Rs 900.23 (50%), but sell below Rs 661 to avoid a deeper slide.

Stock Performance Snapshot

Fibonacci Retracement Levels

Using the 52-week high and low for each stock, here are the Fibonacci levels, pinpointing key support and resistance zones:

LIC Housing Finance
0.0% (52-Wk High): Rs 826.75
23.6%: Rs 747.04
38.2%: Rs 701.06
50.0%: Rs 659.80
61.8%: Rs 618.54
100.0% (52-Wk Low): Rs 492.85
Tata Chemicals
0.0% (52-Wk High): Rs 1,349.00
23.6%: Rs 1,213.42
38.2%: Rs 1,137.07
50.0%: Rs 1,057.00
61.8%: Rs 976.93
100.0% (52-Wk Low): Rs 765.00
Tata Motors
0.0% (52-Wk High): Rs 1,179.00
23.6%: Rs 1,048.77
38.2%: Rs 973.31
50.0%: Rs 898.73
61.8%: Rs 824.14
100.0% (52-Wk Low): Rs 618.45
Indusind Bank
0.0% (52-Wk High): Rs 1,576.35
23.6%: Rs 1,413.50
38.2%: Rs 1,324.27
50.0%: Rs 1,250.03
61.8%: Rs 1,175.78
100.0% (52-Wk Low): Rs 923.70
IRCTC
0.0% (52-Wk High): Rs 1,138.90
23.6%: Rs 1,024.62
38.2%: Rs 959.74
50.0%: Rs 900.23
61.8%: Rs 840.71
100.0% (52-Wk Low): Rs 661.55