NTPC, BHEL, IREDA, Garden Reach, Power Grid Share Price Declines among PSU Stocks
Public sector stocks witnessed higher volatility during the week. While market sentiment was largely positive as global markets witnessed recovery led by US stocks, some of the public sector stocks witnessed selling during the week. Investor interest remains high in public sector stocks, especially defense and shipping companies. Among other sectors, NTPC, trading near Rs 355, remains a robust long-term pick with a consistent dividend yield of 2.13% and a stable P/E ratio of 15.37. Its Fibonacci levels indicate consolidation around Rs 352–355.
BHEL, currently near Rs 227, is in a corrective phase after peaking at Rs 335. While valuations appear stretched with a P/E of 150.50, strong market sentiment could trigger reversals near Rs 226. IREDA, a green energy financing arm, trades around Rs 166 with promising fundamentals and recent high volatility. Its technical levels suggest a consolidation band between Rs 165–168.
Garden Reach Shipbuilders witnessed a strong rally during the week. The defense-linked PSU, trades near Rs 1,917. With strong fundamentals and a strategic niche in shipbuilding, its Fibonacci levels point to potential support around Rs 1,910.
Fibonacci Retracement Levels
| Stock | 0.0% (High) | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% (Low) |
|---|---|---|---|---|---|---|
| NTPC | Rs 358.00 | Rs 355.76 | Rs 354.03 | Rs 352.80 | Rs 351.57 | Rs 347.60 |
| BHEL | Rs 231.23 | Rs 229.50 | Rs 228.39 | Rs 227.51 | Rs 226.64 | Rs 223.80 |
| IREDA | Rs 168.20 | Rs 167.28 | Rs 166.65 | Rs 166.25 | Rs 165.85 | Rs 164.30 |
| Garden Reach Shipbuilders | Rs 1,947.00 | Rs 1,929.54 | Rs 1,918.74 | Rs 1,910.00 | Rs 1,901.27 | Rs 1,873.00 |
| Power Grid | Rs 309.00 | Rs 307.24 | Rs 306.44 | Rs 305.65 | Rs 304.86 | Rs 302.30 |
NTPC
Rs 358.00 marks the 0% retracement level, with Rs 347.60 being the 100% level.
The critical midpoint (50%) stands at Rs 352.80, offering a potential price pivot.
Fibonacci levels suggest traders may eye Rs 354.03 or Rs 351.57 for entry/exit zones.
BHEL
Today's high of Rs 231.23 and low of Rs 223.80 yield a retracement midpoint at Rs 227.51.
Strong Fibonacci zones to watch include Rs 228.39 (38.2%) and Rs 226.64 (61.8%).
These levels may signal near-term consolidation zones for swing trades.
IREDA
IREDA's range between Rs 168.20 and Rs 164.30 defines its technical spectrum today.
Retracement points at Rs 167.28 and Rs 166.25 suggest short-term turning points.
Support may emerge around Rs 165.79 if profit booking intensifies.
Garden Reach Shipbuilders
Price band of Rs 1,947.00 to Rs 1,873.00 highlights the volatility in this PSU defense stock.
Key Fibonacci zones lie at Rs 1929.54 (23.6%) and Rs 1910.00 (50%).
A retest of Rs 1901.27 could present a strategic support level for positional investors.
Power Grid
The price action between Rs 309.00 and Rs 302.30 forms the Fibonacci base.
Retracement midpoint at Rs 305.65 is pivotal for direction confirmation.
Levels like Rs 306.44 (38.2%) and Rs 304.86 (61.8%) may act as congestion zones.
