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

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.

Shares of Public Sector Undertakings witnessed selling pressure in the second half of the calendar year 2024; partly on account of profit-taking and increased volatility in the market. The Nifty PSE index declined over 19 per cent from its peak of 11,815 in August to end the year at 9,532 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. Bharat Electronics, HPCL (Hindustan Petroleum), IRFC (Indian Railway Finance Corporation) and Hindustan Aeronautics were the other major gainers - up around 50 per cent each.  Among others, Power Grid Corporation, BPCL (Bharat Petroleum Corporation), NHPC, RECL, BHEL, Gail (India), Power Finance Corporation and ONGC rallied 17 - 30 per cent each. On the flip side, IRCTC (Indian Railway Catering and Tourism Corporation), SAIL and Container Corporation of India were NMDC declined in the range of 6 - 11 per cent.    Despite gains in the year 2024; some of these PSU stocks are now seen trading up to 43 per cent lower when compared with the year's high. Given this background here are select 5 stocks that can potentially bounce back from present levels in the year 2025.  BPCL  Current Price: Rs 293  Upside Potential: 9.2%  Support: Rs 292  Resistance: Rs 301; Rs 307  BPCL ended the calendar year 2024 with a gain of 34 per cent; but is seen quoting almost 23 per cent lower when compared to its 2024 high of Rs 376. Key momentum oscillators on the daily and weekly scale seem to be floating in oversold territory.  The stock, however, on the daily scale is seen struggling around its 20-DMA (Daily Moving Average), which stands at Rs 296. On the downside, the recent low around Rs 292 holds the key for the stock. 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. CLICK HERE FOR THE CHART  Coal India  Current Price: Rs 386  Upside Potential: 7.5%  Support: Rs 383; Rs 351  Resistance: Rs 398; Rs 403  Coal India was up 7.5 per cent in the year 2024 in spite of a 28 per cent crash from the year's high. The stock at present is seen trading in an oversold zone on the daily and weekly scale; with select key momentum oscillators turning favourable on the daily chart.  Further, the stock is seen testing its 20-MMA (Monthly Moving Average) support for the first time since May 2021. The 20-MMA stands at Rs 383 - below which the stock can slide towards its 100-WMA (Weekly Moving Average) at Rs 351. On the upside, the stock can potentially spurt to Rs 415 levels with interim resistance seen at Rs 398 and Rs 403. CLICK HERE FOR THE CHART  IRFC  Current Price: Rs 151.5  Upside Potential: 13.5%  Support: Rs 149; Rs 130  Resistance: Rs 156; Rs 160  IRFC ended the year with a 52 per cent gain, even as the stock wiped out 34 per cent from its peak at Rs 226. The stock has been trading sideways for the last four months and could potentially jump back to Rs 172 levels. Interim resistance for the stock can be expected around Rs 156 and Rs 160 levels. On the downside, near support for the stock stands at Rs 149 below which a dip towards Rs 130 seems possible. CLICK HERE FOR THE CHART    NHPC  Current Price: Rs 81.60  Upside Potential: 14%  Support: Rs 79.20; Rs 78  Resistance: Rs 83.30; Rs 86.20; Rs 88  NHPC stock ended the year off 31.5 per cent from its peak of Rs 117.80, while managing a 25.5 per cent gain. On the long-term chart, the stock is seen testing support around its 20-MMA for the last four months. The 20-MMA stands at Rs 78 and has not been violated since December 2020.  The stock can potentially bounce back to Rs 93 levels on the upside; with interim resistance seen at Rs 83.30, Rs 86.20 and Rs 88. Near support for the stock exists at Rs 79.20. CLICK HERE FOR THE CHART  Oil India  Current Price: Rs 456  Upside Potential: 11.8%  Support: Rs 447; Rs 417  Resistance: Rs 459; Rs 479; Rs 500  Oil India was the top gainer among the PSE stocks even as the stock shed 43.3 per cent from its peak. At present, the stock has managed to jump back above its 20-DMA alongside positive crossover on key momentum oscillators; thus suggesting likely further upside.  The stock is now seen testing resistance around its super trend line on the daily scale at Rs 459. Break and sustained trade above the same can trigger a rally to Rs 510 with interim resistance seen at Rs 479 and Rs 500 levels. On the downside, the 20-DMA at Rs 447 can act as near support followed by Rs 417. CLICK HERE FOR THE CHART