NALCO, SAIL, IREDA, NMDC Shares closed positive on Friday while Rail Vikas Nigam, BPCL, BHEL and REC closed in negative territory. Indian markets witnessed another round of selling on Friday as market sentiment has turned negative. US markets also witnessed selling on Friday and we can expect further decline in Indian markets on Monday. However, Indian markets have witnessed strong selling over the last few weeks and we could see some recovery. IREDA, SAIL, NALCO and NMDC have recently recovered from their yearly lows. TopNews Team has reviewed technical levels for these stocks which can help traders and short term investors make informed decisions.

Current Trend: Trading between Rs 230 and Rs 180, indicating a crucial resistance at Rs 231.

Support Levels: Rs 180 could act as strong support based on Fibonacci levels.

Breakout Possibility: A move above Rs 232 could trigger an uptrend toward Rs 250+.

Market Positioning: The stock is trending in a consolidation phase between Rs 137 and Rs 157.

Downside Risk: If it falls below Rs 128, the next major support is Rs 117.

Upside Potential: If it crosses Rs 157, it could attempt to retest its previous high near Rs 175.

Key Levels: The stock is oscillating between Rs 87 and Rs 68 based on Fibonacci analysis.

Support Zones: If it declines, strong support exists around Rs 68-73.

Upside Momentum: A breakout above Rs 87 can push it toward Rs 95+.

High Volatility: The stock fluctuates widely, currently holding a support zone between Rs 378 and Rs 315.

Potential Breakout: Rs 544 is a critical resistance, crossing which could fuel an uptrend.

Long-Term View: If the stock sustains above Rs 481, it can gain further bullish momentum.

Recent Movement: Trading within Rs 344 to Rs 273, indicating a volatile price action.

Support Levels: The Rs 273 Fibonacci retracement area is an important buying zone.

Upside Resistance: If the stock crosses Rs 345, it could trend toward Rs 360+.

Crucial Fibonacci Zones: Holding support near Rs 259, with strong resistance around Rs 299.

Potential Decline Risk: If the stock dips below Rs 241, it could see further downside.

Breakout Point: If it closes above Rs 299, it may rally toward Rs 320+.

Current Market Strength: The stock is in an uptrend, trading above Rs 500 comfortably.

Pullback Areas: Rs 482 and Rs 441 are crucial support zones in case of correction.

Bullish Case: If REC sustains above Rs 588, it could attempt a move toward Rs 620-650.