SBI, Coal India, HAL: Top PSU stocks to trade — Check key levels, target prices & stop loss

The Indian equity benchmark settled sharply lower on Wednesday as the global rout deepened led by the rising conflicts in West Asia, which pushed crude oil prices and rate hike expectations higher. However, domestic cues remained supportive. The BSE Sensex tanked 373.93 points, or 0.49 per cent, to close at 76,570.35, while NSE's Nifty50 cracked 141.35 points, or 0.59 per cent, to end at 23,914.45 for the day.

Select buzzing PSU stocks including State Bank of India, Coal India and Hindustan Aeronautics (HAL) are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:

Coal India | Caution |  Resistance: Rs 428 | Support: 395
Coal India Ltd recently delivered a consolidation breakout. Following this breakout, it has posted a pullback move and is now facing a strong hurdle from its medium moving average of 50. This zone is expected to act as a significant resistance area and the measured target of the breakout pattern also aligns around these levels. Given the sharp run-up and proximity to a key hurdle, further upside from here may be limited in the near term. Therefore, fresh buying is not advisable at current levels. It would be prudent to wait for consolidation or a healthy pullback before considering new entries.

Hindustan Aeronautics | Buy | Target Price: Rs 5,100 | Stop Loss: Rs 4,500
HAL, after retreating from its recent high of Rs 5,150, still presents a buying opportunity. It has formed dragonfly doji candlestick pattern near the Rs 4,700 mark, following twelve sessions of profit booking, signaling bullish reversal. The positive outlook is further reinforced by the fact that the price continues to trade above its long-term moving averages, suggesting that the broader uptrend remains intact. From a trading perspective, any pullback toward this support zone can be considered a strategic entry point with an anticipated upside target in the Rs 5,000–5,100 range. To manage risk effectively, a stop loss at Rs 4,500 is recommended

State Bank of India | Caution |  Resistance: Rs 1,070 | Support: 990
SBI has given an ascending trendline breakdown on daily chart, signalling selling pressure at current levels. A short-term support zone is likely to emerge around Rs 990 to Rs 1,000, which corresponds with the previous swing low. However, if the price fails to stage a meaningful recovery from this area, it may invite further downside. A breakdown below this support range could potentially drag the stock toward the Rs 960 to Rs 950 regions. The broader outlook stays cautious unless the stock manages a decisive move above the strong resistance near Rs 1,070 as a clear breakout beyond this level would indicate a possible shift in the prevailing trend.