WAAREEENER - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.9
| Stock Code | WAAREEENER | Market Cap | 86,225 Cr. | Current Price | 2,998 ₹ | High / Low | 3,865 ₹ |
| Stock P/E | 21.6 | Book Value | 456 ₹ | Dividend Yield | 0.07 % | ROCE | 42.8 % |
| ROE | 35.4 % | Face Value | 10.0 ₹ | DMA 50 | 3,121 ₹ | DMA 200 | 3,031 ₹ |
| Chg in FII Hold | 0.15 % | Chg in DII Hold | 1.46 % | PAT Qtr | 934 Cr. | PAT Prev Qtr | 1,226 Cr. |
| RSI | 38.5 | MACD | -56.7 | Volume | 13,14,224 | Avg Vol 1Wk | 9,94,306 |
| Low price | 2,402 ₹ | High price | 3,865 ₹ | PEG Ratio | 0.21 | Debt to equity | 0.15 |
| 52w Index | 40.7 % | Qtr Profit Var | 60.8 % | EPS | 131 ₹ | Industry PE | 28.3 |
📊 Chart Patterns & Trend: WAAREEENER is trading below both its 50 DMA (3,121 ₹) and 200 DMA (3,031 ₹), showing weakness despite strong fundamentals. Price action suggests consolidation with bearish bias between 2,900–3,100 ₹ resistance and 2,402 ₹ support. Trend is leaning towards reversal from highs.
📈 Moving Averages: Current price (2,998 ₹) is under both DMA levels, signaling short-term pressure. Sustained trading above 3,100 ₹ could confirm bullish reversal.
⚖️ RSI: At 38.5, RSI is near oversold territory, indicating potential for rebound if buying emerges.
📉 MACD: Strongly negative at -56.7, confirming bearish undertone and weak momentum.
📊 Bollinger Bands: Price is near the lower band, suggesting oversold conditions and possible bounce from 2,900 ₹ support zone.
📦 Volume Trends: Current volume (13,14,224) is higher than 1-week average (9,94,306), showing increased activity, possibly accumulation at lower levels.
🎯 Entry Zone: 2,900–3,000 ₹ (near support).
🚪 Exit Zone: 3,100–3,200 ₹ (near resistance and DMA cluster).
📌 Momentum Signal: Short-term consolidation with bearish bias. A rebound is possible if RSI-driven buying emerges, but trend remains weak unless price breaks above 3,121–3,200 ₹.
Positive
- ✅ Strong ROCE (42.8%) and ROE (35.4%) reflect excellent efficiency.
- ✅ EPS at 131 ₹ supports valuation strength.
- ✅ PEG ratio at 0.21 indicates attractive growth prospects.
Limitation
- ⚠️ Current price below DMA levels indicates weak momentum.
- ⚠️ Dividend yield at 0.07% is very low, limiting income appeal.
- ⚠️ PAT declined from 1,226 Cr. to 934 Cr. quarter-on-quarter.
Company Negative News
- 📉 Stock corrected sharply from 52-week high (3,865 ₹) to current levels near 2,998 ₹.
- 📉 Short-term earnings decline raises caution despite strong fundamentals.
Company Positive News
- 📈 DII holdings increased by 1.46%, reflecting strong domestic institutional support.
- 📈 FII holdings increased by 0.15%, showing foreign investor confidence.
- 📈 Quarterly profit variation at 60.8% highlights resilience year-on-year.
Industry
- 🏭 Industry PE at 28.3 indicates sector is moderately valued compared to WAAREEENER’s lower P/E (21.6).
- 🏭 Renewable energy sector outlook remains strong, with growth driven by policy support and demand expansion.
Conclusion
🔎 WAAREEENER is in a consolidation phase with bearish bias. Entry near 2,900–3,000 ₹ offers limited downside risk, while resistance at 3,100–3,200 ₹ should be watched for exits. RSI near oversold levels hints at possible rebound, but sustained weakness below DMA levels keeps trend fragile. Investors should wait for confirmation above 3,200 ₹ before expecting a trend reversal.