SBI, BEML, BHEL, REC, NHPC, Container Corporation were among some of the highest traded public sector stocks at their 52-week lows on Friday. Market sentiment has turned bearish and many companies in public sector have witnessed yearly lows. NTPC Green Energy touched all time lows and the stock is currently trading below its issue price. IREDA, IRFC, PNB, NALCO, Bank of India, IDBI Bank and Indian Bank were also looking bearish on technical charts. Traders and short term investors should wait for market sentiment to turn neutral or positive before making an entry in the markets. Only trend reversal can be considered as a good entry point for BUY trades as current market sentiment suggests that there could be further selling. Even if there is a relief rally in the markets, we could see selling at higher levels. Long term investors can consider buying some quantity at current levels and then average their purchases in case markets see further selling. TopNews Team has reviewed technical levels for popular public sector companies. Most of these public sector units have strong fundamentals but the recent market selling has impacted every sector.

SBI (State Bank of India)

Strong Support at Rs 682.60: If the stock trends downward, this level could act as a key support zone.

Key Resistance at Rs 701.35: A breakout above this level could indicate further upside movement.

50% Retracement at Rs 691.98: The stock hovering around this level may suggest price consolidation before the next major move.

BEML

Major Support at Rs 2,447.90: This is the base level where buyers might step in to prevent further decline.

Resistance at Rs 2,588.70: A breach above this price may drive strong momentum.

38.2% Retracement at Rs 2,534.91: The stock could witness temporary selling pressure around this level.

BHEL

Key Support at Rs 177.60: This level will act as a strong defense if the stock drops further.

Resistance at Rs 186.52: A breakout above this price could indicate renewed bullish momentum.

61.8% Retracement at Rs 181.01: Watch for price action here as it often acts as a critical turning point.

REC

Support at Rs 357.35: Investors may accumulate shares at this level in case of a pullback.

Resistance at Rs 376.00: A breakout here could propel the stock toward new highs.

23.6% Retracement at Rs 371.60: If the stock holds above this level, it suggests a healthy uptrend.

NHPC

Strong Support at Rs 71.00: This is a crucial level where buyers may prevent further downside.

Resistance at Rs 73.86: The stock needs to break this level to signal further upside.

50% Retracement at Rs 72.43: If the price stabilizes around this level, sideways movement is likely.

Container Corporation

Support at Rs 621.50: Holding above this level keeps the long-term uptrend intact.

Resistance at Rs 657.65: If broken, strong buying momentum could push the stock higher.

38.2% Retracement at Rs 640.72: This is a potential short-term pivot point.

IRFC

Key Support at Rs 111.70: Holding above this could attract fresh buyers.

Resistance at Rs 119.43: A breakout could lead to further price appreciation.

61.8% Retracement at Rs 115.51: This level could act as interim resistance.

IREDA

Major Support at Rs 151.50: This is a critical level for maintaining upward momentum.

Resistance at Rs 162.33: A breakout here may signal a strong bullish trend.

50% Retracement at Rs 156.92: The price stabilizing here suggests neutral sentiment.

Indian Bank

Strong Support at Rs 501.55: Investors may see buying interest at this level.

Resistance at Rs 520.00: The stock needs to break this level to continue its rally.

23.6% Retracement at Rs 514.04: If price remains above this, further uptrend is likely.

Fibonacci Retracement Levels