Technical Analysis Waaree Energies Ltd.

The stock

has been in a clear downtrend after failing to sustain above the ₹3500 zone. The stock continues to make lower highs and lower lows indicating that sellers remain in control. However recent price action suggests the stock is trying to form a base around the ₹2650–2700 support area. A strong breakout with volume is required to confirm a trend reversal. The stock is currently taking support in the ₹2650–2700 zone, which has acted as a strong demand area in recent sessions. As long as the price holds above this level the chances of a recovery remain intact. On the upside the immediate resistance is placed around ₹2850–2900 followed by a stronger hurdle near ₹3050–3100. A decisive breakout above these resistance levels with strong volume can confirm a bullish reversal and open the way for further upside. Short-term buyers should wait for a sustained breakout above ₹2900 with strong volume before taking fresh positions. Existing holders can continue holding as long as the stock remains above ₹2650 as this is a key support zone. A break below ₹2650 may increase downside risk toward ₹2500 while a move above ₹3100 would strengthen the bullish outlook.