Opening Price Surge and Intraday Movement
The stock opened sharply higher, registering a 7.0% gain at the start of trading, reaching an intraday high of Rs 961, which represents a 7.06% increase from the prior session’s close. This gap up opening was accompanied by heightened volatility, with an intraday volatility of 51.76% calculated from the weighted average price, indicating active trading and price fluctuations throughout the day.
Despite the strong opening, Waaree Renewable Technologies Ltd underperformed its sector benchmark, the Electric Equipment sector, which gained 3.45% on the same day. The stock’s day change closed at 4.00%, slightly below the sector’s advance, suggesting some profit-taking or resistance at higher levels.
Recent Performance and Trend Analysis
Waaree Renewable Technologies Ltd has been on a positive trajectory over the last two trading sessions, delivering a cumulative return of 5.05%. However, its one-month performance remains negative at -4.11%, lagging behind the Sensex’s -2.02% decline over the same period. This contrast highlights a short-term recovery phase within a broader recent downtrend.
The stock’s relative strength index (RSI) and moving averages provide further insight into its technical positioning. The price currently trades above its 5-day and 20-day moving averages, signalling short-term momentum. However, it remains below its longer-term 50-day, 100-day, and 200-day moving averages, indicating that the broader trend is still under pressure.
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Technical Indicators and Market Sentiment
Technical indicators for Waaree Renewable Technologies Ltd present a predominantly cautious outlook. The Moving Average Convergence Divergence (MACD) is bearish on a weekly basis and mildly bearish monthly, while Bollinger Bands also signal bearish trends across weekly and monthly timeframes. The KST indicator aligns with this view, showing bearish momentum weekly and mildly bearish monthly. The Dow Theory does not indicate a clear trend, and On-Balance Volume (OBV) remains neutral.
These technical signals suggest that while the stock has experienced a strong opening and short-term gains, underlying momentum remains subdued, and the potential for a gap fill cannot be discounted. The stock’s high beta of 1.75 relative to the MIDCAP index further emphasises its sensitivity to market swings, implying that price movements may be amplified in either direction.
Sector and Market Context
The power sector, particularly the Electric Equipment segment, has shown resilience with a 3.45% gain on the day, outperforming the broader Sensex’s 2.89% advance. Waaree Renewable Technologies Ltd’s 4.26% one-day gain slightly outpaces the Sensex but trails the sector’s performance by 0.3%. This suggests that while the stock is benefiting from sector tailwinds, it is not leading the charge.
Market capitalisation grading for the company stands at 3, reflecting a mid-tier valuation within its peer group. The company’s Mojo Score is 48.0, with a current Mojo Grade of Sell, downgraded from Hold on 5 Jan 2026. This downgrade reflects a reassessment of the stock’s fundamentals and technical outlook, which may temper enthusiasm despite the recent price surge.
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Summary of Price Action and Outlook
Waaree Renewable Technologies Ltd’s gap up opening at 7.0% on 3 Feb 2026 marks a strong start to the trading session, supported by positive sector momentum and short-term buying interest. The stock’s intraday high of Rs 961 and elevated volatility reflect active market participation. However, the underperformance relative to the Electric Equipment sector and the presence of bearish technical indicators suggest that the current gains may face resistance.
The stock’s position above short-term moving averages but below longer-term averages indicates a mixed technical picture, with potential for either consolidation or a retracement to fill the gap. The high beta nature of the stock further implies that price swings could be pronounced in the near term.
Overall, the price action on 3 Feb 2026 highlights a notable recovery phase for Waaree Renewable Technologies Ltd, albeit within a context of cautious technical signals and sector-relative underperformance.
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