Waaree Renewable Technologies wins 5 MWp PSU solar order

Waaree Renewable Technologies won a 5 MWp PSU solar order, but the stock trades below its 20-day SMA with ₹779.5 as key support. Waaree Renewable Technologies Limited [

] closed at ₹802.45 on 9 October 2026, up 0.82%. The gain came after the company announced a new solar order. The company received a Letter of Acceptance from a public sector undertaking on 8 October 2026. The order covers turnkey EPC work on a 5 MWp grid-connected solar PV project, plus 10 years of operation and maintenance. The PSU and the contract value were not disclosed. At 5 MWp, the order is small. It adds some visibility. My view: the trend stays bearish. The stock trades below the 20-day SMA at ₹818.51, and the daily chart shows lower highs since July. RSI at 37.87 is weak but not oversold, so a bounce is possible, though a close above ₹860 is needed to change my view. I am watching ₹779.5 as the key support. A close below it would extend the decline. On the upside, ₹818.51 is the first hurdle and ₹860 is the key resistance. Stance: bearish while price stays below ₹860. Disclosure: I have no holding or position in this stock. This is not a recommendation. Investment in securities is subject to market risks, so assess your risk before investing.