IREDA, Ircon International, IRFC: How to trade these 3 buzzing PSU stocks

Indian benchmark indices settled marginally higher on Monday even as the profit booking trimmed the gains amid the absence of fresh triggers. Traders are awaiting fresh cues for any major move. BSE Sensex added 39.78 points, or 0.05 per cent, to settle at 83,978.49, while NSE's Nifty50 gained 41.25 points, or 0.16 per cent, to close at 25,763.35 for the day.
 

Select buzzing PSU stocks including Indian Railways Finance Corporation (IRFC), IRCON International and Indian Renewable Energy Development Agency (IREDA) are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Technical Research Analyst at Anand Rathi Shares & Stock Brokers has to say about these stocks ahead of Tuesday's trading session:
 

Indian Railways Finance Corporation | Caution | Resistance: Rs 128 | Support: Rs 120

IRFC has been moving in a consolidation phase between Rs 120-128, reflecting a range-bound sentiment after its recent rally. The stock is currently lacking clear directional bias, and this sideways movement is likely to continue if it trades within the mentioned zone. A decisive close above Rs 128 on a daily basis would be crucial to confirm a fresh breakout, potentially paving the way for further upside toward Rs 134 and beyond. On the downside, Rs 120 acts as immediate support, followed by a stronger base near Rs 118, where buying interest may emerge. Overall, the stock remains in a neutral to positive setup, but traders are advised to wait for a breakout confirmation above Rs 128 before initiating fresh long positions. Until then, IRFC is expected to continue consolidating within the Rs 120–128 range, with support-based trading opportunities for short-term participants.
 

Indian Renewable Energy Development Agency | Buy | Target Price: Rs 162 | Stop Loss: Rs 146

IREDA is currently consolidating within the Rs 148-158 zone, precisely around its 50-DEMA — a positive technical sign indicating strength near key support levels. The MACD indicator has given a bullish crossover, while the rate of change has moved above the zero line, both confirming renewed buying momentum in the stock. This setup suggests a potential continuation of the uptrend once the consolidation phase ends. Hence, traders may consider buying in the Rs 154–152 zone with a target of Rs 162, while maintaining a stop-loss at Rs 146 on a daily closing basis to manage risk effectively. Overall, the stock exhibits a constructive structure supported by momentum indicators, and any sustained move above Rs 158 could open the door for further upside in the short term.
 

IRCON International | Caution | Resistance: Rs 173 | Stop Loss: Rs 167

IRCON International is currently trading below its 50, 100, and 200-DEMA, indicating underlying weakness in the trend. The price action is hovering near a crucial support zone around Rs 167, and if this level is decisively breached, the stock may decline further toward Rs 163. On the higher side, Rs 173 acts as immediate resistance, which needs to be taken out on a closing basis to signal any potential recovery or reversal. Until a clear breakout above Rs 173 is seen, the overall bias remains negative to neutral, and it is advisable to avoid fresh long positions in the current setup. Traders should watch how the stock behaves near Rs 167, as holding this level could provide short-term stability, but any breakdown below it may invite additional selling pressure.