🖊️ Waaree Energies Ltd. Daily – Cup & Handle Breakout Watch, Momentum Building Above Key Level

📊 1. Price Action & Pattern Waaree Energies has formed a textbook Cup and Handle pattern after a deep correction and base-building phase. Price action recently rebounded from support, with the handle now showing strength and an attempted breakout above ₹3,073.35. The critical resistance zone is around ₹3,297–₹3,300; a clear daily close above this level would confirm pattern breakout and initiate a fresh uptrend leg. 📈 2. Key Levels Immediate Support: ₹3,073 Major Support: ₹2,887 Immediate Resistance: ₹3,297–₹3,300 (Cup & Handle rim + horizontal supply) 📉 3. Indicators RSI: Currently at 54.23, trending higher after breaking its short-term downtrend line. Now above 50, signaling improving bullish momentum. Volume: Picked up on recent bullish candles, but a decisive surge on breakout is still awaited for confirmation. 🧠 Technical Summary Trend: Strong base formation; potential beginning of new uptrend pending breakout confirmation. Setup: Cup and Handle pattern at advanced stage; price consolidating just below major breakout point. Trigger Point: Sustained close above ₹3,300 will trigger breakout confirmation and likely attract momentum buying. Failure could lead to consolidation or retest of supports at ₹3,073/₹2,887. 🔎 Conclusion “Waaree Energies is at a pattern confirmation juncture. A breakout and close above ₹3,300 can validate the Cup & Handle setup and open upside potential, while holding ₹3,073–₹2,887 is key for the bullish structure to stay intact.” 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.