Waaree Energies Ltd Sees Sharp Open Interest Surge Amid Strong Market Momentum

Open Interest and Volume Dynamics

On 3 February 2026, Waaree Energies Ltd (symbol: WAAREEENER) recorded a remarkable increase in open interest (OI) in its futures and options contracts. The latest OI stood at 29,063 contracts, up from 19,974 the previous day, marking a substantial 45.5% rise. This sharp increase in OI, coupled with a daily traded volume of 97,322 contracts, indicates a strong influx of fresh positions rather than mere unwinding of existing ones.

The futures segment alone accounted for a value of approximately ₹77,913.41 lakhs, while the options segment's notional value was an impressive ₹47,570.00 crores, culminating in a total derivatives market value of ₹94,704.48 lakhs. Such elevated activity underscores the growing interest among traders and institutional participants in Waaree Energies’ price trajectory.

Price Performance and Market Positioning

The underlying stock price closed at ₹3,168, having opened with a gap-up of 9.76% and touched an intraday high of ₹3,195, representing a 14.31% rise from the previous close. Over the last two trading sessions, the stock has delivered a cumulative return of 19.04%, significantly outperforming the Renewable Energy sector’s 4.17% gain and the Sensex’s 2.79% advance on the same day.

Notably, the weighted average price of traded contracts was closer to the day’s low, suggesting that while the stock surged, a considerable volume was executed at more conservative price levels, potentially indicating accumulation by informed investors.

Technically, the stock is trading above its 5-day, 20-day, 50-day, and 200-day moving averages, though it remains below the 100-day moving average, signalling a strong short- to medium-term bullish momentum with some resistance at longer-term levels.

Sectoral Context and Investor Participation

Waaree Energies operates within the Other Electrical Equipment industry, a segment that has been gaining traction amid the global push for renewable energy solutions. The stock’s market capitalisation stands at ₹90,592.50 crores, categorising it as a mid-cap entity with considerable liquidity. The stock’s liquidity supports trade sizes up to ₹6.63 crores based on 2% of the 5-day average traded value, making it accessible for institutional and retail investors alike.

However, delivery volumes have declined by 14.81% compared to the 5-day average, with 3.62 lakh shares delivered on 2 February. This dip in investor participation may reflect short-term profit booking or cautious positioning ahead of upcoming market catalysts.

Market Positioning and Directional Bets

The surge in open interest alongside rising prices typically indicates fresh bullish bets being placed by market participants. The 45.5% increase in OI suggests that traders are not merely closing positions but are actively building new long exposures, anticipating further upside in Waaree Energies’ stock price.

Given the stock’s outperformance relative to its sector and the broader market, it is plausible that institutional investors and hedge funds are positioning for a sustained rally. The stock’s Mojo Score of 78.0 and an upgraded Mojo Grade from Hold to Buy on 9 December 2025 further reinforce the positive sentiment surrounding the company.

Such upgrades typically reflect improvements in fundamental metrics, technical strength, and market perception. Waaree Energies’ mid-cap status with a Market Cap Grade of 2 indicates moderate size but with growing investor interest and liquidity.

Technical and Fundamental Outlook

From a technical standpoint, the stock’s ability to hold above multiple moving averages while breaking recent resistance levels is a bullish sign. The gap-up opening and intraday high near ₹3,195 demonstrate strong buying interest. However, the stock remains below its 100-day moving average, which may act as a near-term resistance hurdle.

Fundamentally, Waaree Energies benefits from the expanding renewable energy market, government incentives, and increasing demand for electrical equipment in sustainable infrastructure projects. The company’s robust market capitalisation and liquidity profile make it a viable candidate for inclusion in thematic portfolios focused on clean energy and electrical equipment sectors.

Investor Considerations and Risks

While the current momentum is encouraging, investors should remain mindful of potential volatility given the stock’s recent sharp gains. The decline in delivery volumes may signal some profit-taking or cautious positioning ahead of quarterly results or sectoral developments.

Moreover, the stock’s position below the 100-day moving average suggests that a sustained breakout above this level would be necessary to confirm a longer-term uptrend. Market participants should also monitor broader sector trends and policy changes impacting the renewable energy industry.

Overall, the combination of strong open interest growth, positive price action, and an upgraded Mojo Grade supports a constructive outlook for Waaree Energies Ltd in the near term.

Summary

Waaree Energies Ltd’s derivatives market activity reveals a clear shift towards bullish positioning, with a 45.5% surge in open interest and robust volume supporting a 12.73% single-day price gain. The stock’s outperformance relative to its sector and the Sensex, alongside technical strength and fundamental upgrades, positions it favourably for further appreciation. Investors should weigh the positive momentum against near-term resistance and market volatility risks.

As the renewable energy sector continues to attract capital, Waaree Energies stands out as a mid-cap contender with growing institutional interest and liquidity, making it a key stock to watch in the Other Electrical Equipment industry.

Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →