Waaree Energies Technical Analysis with Confirm Targets Detailed chart analysis of Waaree Energies Ltd. based on the Daily Time Frame (1D)
Chart as of April 23, 2025
Current Price Movement
- LTP (Last Traded Price): ₹2,983.00
- Change: +₹367.10 (+14.03%) — A strong bullish candle with a significant gap-up.
- Volume: 19.82M — Strong volume confirmation indicating institutional interest.
Resistance / Supply Zones
1. Resistance - 1 (Supply Zone)
₹3,186.00 – ₹3,237.15
This is the nearest resistance zone where the stock may face selling pressure. Previous supply has emerged here, and buyers may take profit.
2. Major Resistance / Supply Zone
₹3,646.40 – ₹3,741.45
This zone marks the previous major highs and is a key resistance area. A breakout above this may indicate a strong continuation of the uptrend.
Support / Demand Zones
1. Major Support - 1 (Demand Zone)
₹2,455.20 – ₹2,512.70
This is the most recent breakout zone. If the price corrects, this area may act as a strong support level.
2. Support Zone - 2
- ₹2,294.40 – ₹2,323.30
- Acts as the next layer of support if ₹2,455 fails to hold.
3. Major Support - 2
- ₹2,009.40 – ₹2,075.15
- Long-term support zone, previously tested multiple times, can act as a strong demand zone in case of major correction.
Price Structure & Volume
- The chart shows a **strong bullish breakout** after forming a **higher low**.
- Today's price action indicates a **gap-up opening with heavy buying interest**.
- Volume confirms the breakout — higher than average volume during the up move suggests strong conviction.
Key Technical Takeaways
- Trend Reversal Confirmation: After a prolonged downtrend, price has shown a strong bullish reversal.
- Bullish Breakout: Price broke through multiple resistances with volume confirmation.
- Watch for Retest: In case of pullback, ₹2,455–₹2,512 zone should be watched for buying interest.
Targets
- First Target: ₹3,186–₹3,237
- Final Resistance Target: ₹3,646–₹3,741
- If the price fails to sustain above ₹2,983 and closes below ₹2,512 in coming sessions, it might signal a false breakout or correction.
