IREDA, RCF, BEML, NALCO, SAIL and REC were among major losers in the PSU segment. Indian markets were trading positive during the session's opening but soon drifted in the red. IREDA share price declined 4.07 percent after RBI rejected IREDA's Investment In Nepal Hydropower Project. Among other losers were PSU steel major SAIL, losing 3.5 percent. Steel stocks were in demand during the last few sessions as steel prices in the international markets are expected to go higher. BEML shares were down by 4.49 percent at Rs 2,549. TopNews Team has reviewed technical levels for some of the stocks for traders.

Stock-Specific Insights for Traders

IREDA

The stock is stabilizing around Rs 149.17 with strong support near Rs 142.94.
A breakout above Rs 150.50 could indicate a bullish trend continuation.
Investors should watch for momentum toward Rs 310.00 in the long term.

BEML

The stock is consolidating between Rs 2,549.00 and Rs 2,697.00.
A sustained move above Rs 2,697.00 could push prices towards Rs 5,488.00.
Short-term traders should monitor price action near Rs 2,550.00 for possible reversals.

Rashtriya Chemicals and Fertilizers (RCF)

RCF is hovering close to Rs 125.65, with immediate support at Rs 119.20.
If the stock sustains above Rs 126.80, it may attempt to retest Rs 245.00.
Caution is advised near support levels as volatility remains high.

NALCO

The stock is maintaining its position above Rs 187.10, with strong resistance at Rs 196.78.
A decisive break above Rs 196.78 could target Rs 262.99.
Traders should look for confirmation signals before entering long positions.

Fibonacci Retracement Levels