IREDA, RCF, HMT, MMTC, Engineers India, BEML were among the major gainers in Public Sector segment on the first trading day of year 2025. While IREDA shared strong numbers for the quarter ending December 2024, other public sector companies were just trading positive as investors are expecting stronger performance for some of these counters. TopNews has reviewed technical levels for these stocks.

Fibonacci Levels for Each Stock

HMT Limited
Fibonacci Levels:

23.6%: Rs 73.48
38.2%: Rs 81.87
50%: Rs 89.03
61.8%: Rs 96.19
78.6%: Rs 103.69

Quick Recap for HMT:

HMT Limited’s stock is showing a cautious recovery, with immediate resistance near Rs 64.
Fibonacci analysis indicates strong retracement levels at Rs 81.87 and Rs 96.19.
Investors should watch for sustained momentum above Rs 73.48 for bullish signals.
MMTC Limited
Fibonacci Levels:

23.6%: Rs 87.76
38.2%: Rs 97.96
50%: Rs 108.30
61.8%: Rs 118.64
78.6%: Rs 130.26

Quick Recap for MMTC:

MMTC’s stock has shown resilience, trading above Rs 72 and nearing key Fibonacci resistance.
The next upside potential is at Rs 97.96, with long-term targets around Rs 118.64.
Investors should monitor Rs 87.76 for support during any pullback.
Engineers India
Fibonacci Levels:

23.6%: Rs 222.63
38.2%: Rs 240.59
50%: Rs 256.08
61.8%: Rs 271.57
78.6%: Rs 291.25

Quick Recap for Engineers India:

Engineers India is consolidating near Rs 185, with Fibonacci targets indicating Rs 240.59 as the next key level.
A breakout above Rs 222.63 could trigger a rally toward Rs 271.57.
The stock remains supported by strong fundamentals and a stable dividend yield.
RCF
Fibonacci Levels:

23.6%: Rs 186.95
38.2%: Rs 199.18
50%: Rs 211.70
61.8%: Rs 224.22
78.6%: Rs 241.09

Quick Recap for RCF:

RCF’s stock has shown steady progress, holding above Rs 173 and targeting Rs 199.18.
Fibonacci levels suggest strong upward potential if Rs 186.95 is breached.
Investors should monitor the Rs 211.70 level as a medium-term target.
BEML
Fibonacci Levels:

23.6%: Rs 3,805.66
38.2%: Rs 4,164.10
50%: Rs 4,580.95
61.8%: Rs 4,997.80
78.6%: Rs 5,432.78

Quick Recap for BEML:

BEML is trading in a tight range, with key support around Rs 4,060 and Fibonacci resistance at Rs 4,164.10.
The stock’s upward trajectory targets Rs 4,997.80 in the medium term.
Strong momentum above Rs 4,580.95 could trigger a rally toward its 52-week high.