Waaree Energies – Strong Breakout from Multi-Month Base with Volume Confirmation! ⚡

Technical Overview (Weekly Chart) Waaree Energies has delivered a decisive breakout from a seven-month consolidation range (₹950–₹1,250). The strong green candle with massive volume marks the beginning of a new trend leg after a prolonged sideways phase. 1️⃣ Elliott Wave Structure The stock appears to have completed a corrective Wave 4 between May and September. The current surge signals the start of Wave 5 impulse, targeting the ₹1,500–₹1,600 zone. Wave 3 showed vertical acceleration, suggesting that Wave 5 may mirror similar momentum if follow-through continues. 2️⃣ MACD Divergence On the weekly timeframe, MACD shows a fresh bullish crossover without any negative divergence. Rising histogram bars confirm momentum expansion aligned with price breakout — a strong signal of institutional participation. 3️⃣ AVWAP as Support/Resistance AVWAP from the listing day and subsequent high acts as a long-term accumulation support around ₹1,050–₹1,070. The stock has now reclaimed and sustained above both 13 & 26-week moving averages, reinforcing trend strength and breakout reliability. Fundamental Strength India’s leading solar module manufacturer with robust order inflows amid growing renewable energy demand. High ROCE and expanding profit margins, supported by capacity expansion and policy tailwinds. Low leverage and improving operating cash flows make the business structurally strong for medium-term investors. Beneficiary of India’s solar push and PLI (Production Linked Incentive) scheme — ensuring sustainable growth visibility. Conclusion Waaree Energies is breaking out of a long consolidation base with confirmation from volume and trend indicators. 📈 Support Zone: ₹1,060–₹1,100 🎯 Targets: ₹1,480 → ₹1,600 ⛔ Invalidation: Weekly close below ₹1,040