IREDA share price declined by 1.8 percent on Thursday after stellar performance on Wednesday. The PSU major jumped strongly on Wednesday as markets celebrated strong quarterly performance by IREDA. But, selling was witnessed at higher levels on Thursday as some investors booked profits. IREDA opened at Rs 175 and started sliding after touching intraday high at Rs 175.4. The stock closed 1.79 percent lower at Rs 173.23. However, markets can still reward investors as the stock is currently looking bullish. However, the direction would also depend on overall market sentiment. In the recent times, US President Donald Trump has been causing major volatility in worldwide markets with introduction of US tariffs on imports. This has led to a trade war between United States and China.

Among major gainers in PSU space were RCF, SBI, NTPC Green Energy, NTPC and GAIL. Among losers were IREDA, SAIL, HPCL, Dredging Corporation and Engineers India. Many PSU stocks witnessed smart recovery during March from their yearly lows and April has been a volatile month so far. But, markets seem to have digested the impact of tariffs at the moment. If we witness a trade deal between United States and China, it could lead to recovery in the global markets.

TopNews Team has reviewed technical levels for some of the PSU stocks.

IREDA

IREDA has shown signs of consolidation near Rs 175, with Fibonacci support at Rs 223.50 and deeper pullback zone near Rs 174.03. Traders may watch for a breakout above Rs 269.17 to confirm bullish continuation.

IRFC

IRFC is holding above key retracement zones, with Fibonacci support placed around Rs 168.52. A close above Rs 200.45 could drive the next leg of upside towards Rs 229.

NTPC Green Energy

NTPC Green Energy remains volatile within a wide range. Rs 119.95 serves as a key midpoint, while Rs 138.64 and Rs 99.70 mark crucial resistance and support levels respectively.

NALCO

NALCO is approaching mid-range Fibonacci resistance near Rs 200.37. Sustained movement above Rs 233.43 can open room for retesting previous highs, while Rs 164.55 is strong support.

BHEL

BHEL is consolidating below its key retracement barrier of Rs 255.67. Support lies near Rs 210.10, and a move above Rs 297.74 could trigger further momentum toward the 52-week high.

Fibonacci retracement levels