IREDA, HUDCO, REC: How to trade these 3 buzzing PSU financial stocks

Indian benchmark indices extended their weakness and ended lower on Wednesday amid mixed global cues. Persistent FII outflows continued to add to the cautious sentiments. BSE Sensex shed 120.21 points, or 0.14 per cent, to settle at 84,559.65, while NSE's Nifty50 declined 41.55 points, or 0.16 per cent, to close at 25,818.55 for the day.
 

Select buzzing PSU financial stocks including Housing & Urban Development Corporation (HUDCO), Indian Renewable Energy Development Agency (IREDA) and REC likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla Senior Technical Analyst at YES Securities has to say on these stocks for Thursday's trading session:
 

Indian Renewable Energy Development Agency | Avoid | Resistance: Rs 136 | Support: Rs 129

The major trend of IREDA is bearish as it is marking the sequence of lower tops and lower bottoms. Recently, the stock has marked the low of the Rs 129 level and thereafter witnessed a pullback rally. During the pullback rally, it failed to sustain above the previous swing high of 136 level and thereafter resumed its southward journey. The daily RSI is in a bearish zone and it is in falling mode. Hence, we believe, the stock is likely to continue its southward journey and test the level of Rs 121 in the next week. On the upside, the zone of Rs 136-140 will act as a crucial hurdle.
 

REC | Avoid | Resistance: Rs 350 | Support: Rs 330

REC's technical outlook remains weak, based on the breakdown below Rs 350 with high-volume selling. The RSI reading of 20 points to oversold conditions which may lead to near-term consolidation or sideways movement. However, the prevailing bearish momentum suggests a further decline toward the 200-week SMA near Rs 312 is likely. Given this setup, investors are advised to refrain from premature buying and maintain a neutral or avoid stance until a clear, sustained base formation emerges.
 

Housing & Urban Development Corporation | Avoid | Resistance: Rs 217 | Support: Rs 200

Hudco is currently experiencing a significant bearish breakdown after decisively breaching its 200-day SMA, signaling a shift in long-term sentiment. With momentum firmly to the downside, the next major support floor is identified at the Rs 200 level; however, caution is strongly warranted until the price proves it can consolidate and stabilize in this zone. If the counter fails to hold the Rs 200 marks on a closing basis, further weakness is expected to pull the price toward Rs 190 and Rs 184. Consequently, the most prudent strategy is to remain on the sidelines, avoiding new positions until the current selling pressure exhausts and a clear base is established.