BPCL, IRFC, NHPC: 5 PSU stocks with up to 14% upside potential in near-term

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BPCL, IRFC, NHPC: 5 PSU stocks with up to 14% upside potential in near-term - Business Standard

Quick Summary:

Despite ending 2024 on a strong note, select PSU stocks such as Oil India, NHPC and Coal India plunged up to 43% from the peaks; technical charts hint at a possible pull-back in the near-term.

As long as the stock manages to hold above the same, a pull-back from present levels cannot be ruled out. Break and sustained trade above the 20-DMA can trigger a spurt towards Rs 310 - Rs 320 levels; with interim resistance likely around Rs 301 and Rs 307 levels.

The index, however, still ended 2024 with a solid gain of 21.4 per cent. Among individual stocks - Oil India was the major mover as the stock finished with a gain of 73.6 per cent in 2024.