BHEL, Rail Vikas Nigam, Engineers India and BEML Share Price Jumps; Markets Trade Firm
BHEL, BEML, IREDA, Rail Vikas Nigam, Engineers India and RCF were among major gainers from the PSU segment on Monday as markets were trading firm. IREDA stock has witnessed bullish breakout on technical charts with 7.7 percent gains during early trades. NSE Nifty was trading 1.1 percent higher at 23,606 at the time of publication of this report. TopNews Team has reviewed technical levels for the highest traded PSU stocks.
Rail Vikas Nigam
The stock is currently trading near its lower Fibonacci levels, offering a possible accumulation zone for long-term investors.
A breakout above Rs 446 (50% level) may lead to bullish momentum toward Rs 493.44 and beyond.
Traders should keep Rs 398.56 in view as a near-term support level.
| Fibonacci Level | Price (Rs) |
|---|---|
| 23.6% | Rs 552.13 |
| 38.2% | Rs 493.44 |
| 50.0% | Rs 446.0 |
| 61.8% | Rs 398.56 |
| 78.6% | Rs 331.03 |
BEML
BEML is well off its 52-week high and could face resistance near Rs 3919 if it retraces upward.
The Rs 3548.72 level may act as a support if current momentum cools.
Upside break above Rs 4289.28 (38.2% level) may indicate resumption of the previous trend.
| Fibonacci Level | Price (Rs) |
|---|---|
| 23.6% | Rs 4747.43 |
| 38.2% | Rs 4289.28 |
| 50.0% | Rs 3919.0 |
| 61.8% | Rs 3548.72 |
| 78.6% | Rs 3021.53 |
Engineers India
The stock is currently showing recovery potential and may target Rs 223.05 in the near term.
Immediate resistance lies around Rs 242.13, a breakout above which could strengthen the bullish case.
Support is expected near Rs 203.97, making it a critical level for short-term holding.
| Fibonacci Level | Price (Rs) |
|---|---|
| 23.6% | Rs 265.74 |
| 38.2% | Rs 242.13 |
| 50.0% | Rs 223.05 |
| 61.8% | Rs 203.97 |
| 78.6% | Rs 176.8 |
BHEL
BHEL is trading within a retracement zone, with Rs 236.87 as an immediate support level.
Bulls may aim for Rs 274.48 and Rs 297.74 as short-term resistance zones.
Sustained weakness below Rs 210.10 (78.6%) may trigger further downside.
| Fibonacci Level | Price (Rs) |
|---|---|
| 23.6% | Rs 297.74 |
| 38.2% | Rs 274.48 |
| 50.0% | Rs 255.68 |
| 61.8% | Rs 236.87 |
| 78.6% | Rs 210.1 |
