synopsis

Analysts see long-term upside but advise caution near current levels due to overbought signals and nearby resistance.

Waaree Energies shares closed nearly 15% higher on Wednesday after the solar major reported its strongest-ever quarterly performance. In the last week alone, the stock has surged 37%, driven by optimism over earnings and future growth projections.

The company has issued an ambitious earnings before interest, tax, depreciation, and amortization (EBITDA) guidance for FY26, projecting earnings in the range of ₹5,500 crore to ₹6,000 crore — a sharp increase from the ₹3,123 crore posted in FY25.

Data from Stocktwits shows that retail sentiment has risen in the last week to ‘extremely bullish,’ with high message volumes.

Waaree Energies sentiment and message volume on April 23 as of 3:00 pm IST. | source: Stocktwits

So, where from here? SEBI-registered analysts have shared their take on Stocktwits.

Vishal Bhingaradiya notes that Waaree’s order book stood at 25 GW, valued at ₹47,000 crore as of the end of March, providing robust visibility for future quarters.

On the technical front, he notes that the stock has broken out above key moving averages and is trading significantly above its 50-day and 100-day moving averages, indicating medium-term strength. The MACD remains positively aligned, and rising volumes on breakout sessions suggest strong institutional participation.

For long-term investors, Vishal sees Waaree as a fundamentally strong candidate in the clean energy sector, with upside targets of ₹4,100 and ₹5,300 over the medium to long term. 

He recommends a stop-loss at ₹2,100 on a closing basis, while noting that minor corrections may occur due to profit-booking, but the broader uptrend remains intact.

Meanwhile, another analyst, Prameela B, observes that Waaree’s price has convincingly broken its downtrend resistance line on significant volume, which is a strong bullish signal. 

However, with the Relative Strength Index (RSI) at 81.82, the stock is in an extremely overbought condition, indicating robust bullish momentum but also suggesting the possibility of a short-term pullback.

She added that the price is now entering a previously marked supply zone between ₹3,200 and ₹3,450, which could act as a resistance level.

For new investors, Prameela noted that it is not ideal to chase the stock after a 16% move and an RSI above 80. 

She advised waiting for a retest near ₹2,600–2,700 or the 20 exponential moving average (EMA) zone around ₹2,300–2,400 for a better risk-reward entry, as entering the supply zone after such a sharp rally increases the risk of a short-term pullback.

For existing investors already holding the stock, she recommended continuing to hold, as the breakout is supported by volume and momentum. 

The first target is set at the ₹3,200–3,450 zone, and she suggested trailing the stop-loss to just below ₹2,600, which is either the recent breakout point or the 50 EMA zone.

Waaree Energies shares have gained 5% year-to-date (YTD).

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