Opening Surge and Intraday Performance
On 3 February 2026, Waaree Energies Ltd opened at a price reflecting a 7.44% gain compared to the prior day’s closing level. This gap up was accompanied by a strong intraday rally, with the stock reaching a high of Rs 3,124.95, marking an 11.84% increase intraday. The day’s overall gain settled at 10.44%, substantially outperforming the Sensex, which recorded a 2.34% rise on the same day.
The stock’s performance also eclipsed its sector peers, with the Renewable Energy segment gaining 3.63% during the session. Waaree Energies outperformed its sector by 7.12%, underscoring its relative strength within the Other Electrical Equipment industry.
Recent Trend and Momentum
Waaree Energies has demonstrated sustained positive momentum, registering gains for two consecutive trading days. Over this period, the stock has delivered a cumulative return of 16.91%, reflecting strong buying interest and favourable market dynamics. The one-month performance further supports this trend, with the stock appreciating 7.65%, contrasting with the Sensex’s decline of 2.54% over the same timeframe.
Technical indicators provide a nuanced view of the stock’s momentum. The daily moving averages signal a mildly bullish trend, with the current price trading above the 5-day, 20-day, 50-day, and 200-day moving averages, though it remains below the 100-day moving average. This positioning suggests short- to medium-term strength, while the longer-term trend may require further confirmation.
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Technical Indicators and Market Positioning
Examining the technical landscape, the Moving Average Convergence Divergence (MACD) indicator on a weekly basis is mildly bearish, while monthly signals are neutral. The Relative Strength Index (RSI) does not currently indicate a clear signal on either weekly or monthly charts. Bollinger Bands on the weekly timeframe suggest mild bearishness, whereas monthly data remains inconclusive.
The Know Sure Thing (KST) indicator shows mild bearishness on a weekly scale and a similar tone monthly. Dow Theory assessments reveal a mildly bullish weekly outlook but a mildly bearish monthly perspective. On-Balance Volume (OBV) readings are mildly bearish weekly but bullish monthly, indicating mixed volume trends.
Waaree Energies is classified as a high beta stock, with an adjusted beta of 1.40 relative to the Sensex. This elevated beta implies that the stock tends to experience larger price fluctuations compared to the broader market, amplifying both upward and downward movements.
Valuation and Market Capitalisation
The company holds a Market Cap Grade of 2, reflecting its mid-cap status within the Other Electrical Equipment sector. The recent upgrade in its Mojo Grade from Hold to Buy, effective 9 December 2025, corresponds with a Mojo Score of 78.0, indicating improved fundamental and technical assessments by MarketsMOJO’s proprietary scoring system.
This upgrade aligns with the stock’s recent price appreciation and positive momentum, suggesting enhanced investor confidence and favourable underlying business metrics.
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Gap Up Analysis and Market Implications
The significant gap up opening at 7.44% indicates a strong overnight catalyst or positive developments that have been factored into the stock price ahead of market open. The subsequent intraday high of 11.84% above the previous close further confirms robust buying interest and momentum.
Despite the strong start, the stock’s price remains below the 100-day moving average, which may act as a resistance level in the near term. The sustained gains over two consecutive days and the outperformance relative to both the sector and Sensex suggest that the gap up is supported by underlying strength rather than a mere technical anomaly.
Given the high beta nature of Waaree Energies, the stock is prone to amplified price swings, which could lead to volatility in the short term. However, the current technical and fundamental backdrop supports the continuation of positive momentum, with the possibility of the gap remaining unfilled if buying interest persists.
Sector-wise, the Renewable Energy segment’s gain of 3.63% on the day provides a supportive environment for Waaree Energies, reinforcing the stock’s relative outperformance within its industry classification.
Summary of Key Metrics
To summarise, Waaree Energies Ltd’s key performance indicators on 3 February 2026 include:
- Opening gap up of 7.44%
- Intraday high of Rs 3,124.95, up 11.84%
- Day’s closing gain of 10.44%, outperforming Sensex by 8.10 percentage points
- Two-day consecutive gains totalling 16.91%
- One-month return of 7.65% versus Sensex’s -2.54%
- Mojo Score of 78.0 with an upgraded Mojo Grade to Buy
- High beta of 1.40 indicating elevated volatility relative to the market
These metrics collectively illustrate a strong market response and positive sentiment surrounding Waaree Energies Ltd, supported by both technical and fundamental factors.
Conclusion
Waaree Energies Ltd’s significant gap up opening and subsequent intraday performance on 3 February 2026 reflect a strong start to the trading session, underpinned by positive market sentiment and sectoral tailwinds. The stock’s outperformance relative to the Sensex and its sector, combined with recent upgrades in its Mojo Grade and sustained momentum, highlight its current strength.
While technical indicators present a mixed picture with some mildly bearish signals on weekly and monthly charts, the daily moving averages and volume trends support a cautiously optimistic outlook. The high beta characteristic suggests that investors should anticipate potential volatility, but the prevailing trend indicates that the gap up is likely to hold unless significant adverse developments emerge.
Overall, Waaree Energies Ltd’s price action on this trading day exemplifies a robust market response to favourable catalysts, with the stock maintaining its elevated levels and outperforming key benchmarks.
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