Why is Waaree Energies falling/rising?

As of 29-Aug, Waaree Energies Ltd is currently priced at Rs 3,402.90, reflecting a decrease of Rs 14.8 or 0.43%. The stock has recently underperformed its sector by 0.89% and has experienced a trend reversal after two consecutive days of gains. Despite touching an intraday high of Rs 3,496, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has shown strong long-term fundamentals, with a robust average Return on Equity (ROE) of 23.17% and significant growth in net sales and operating profit. However, the recent decline may be attributed to a 28.07% drop in delivery volume compared to the 5-day average, indicating falling investor participation.
In the broader market context, Waaree Energies has outperformed the Sensex over the past week and month, with returns of 6.74% and 7.23%, respectively, while the Sensex has declined by 1.84% and 1.88% during the same periods. This suggests that the stock has been relatively strong compared to the overall market. However, the stock's recent price drop, despite its strong fundamentals and increasing institutional investor participation, indicates that market sentiment may be shifting, possibly due to concerns over its high valuation and the recent decrease in trading volume.