A Successful Momentum Strategy for Waaree Renewables Tech

This backtested trade on Waaree Renewables Technologies Ltd. (BSE: 534618) was a highly successful momentum play, yielding over 500% (5x) gains in seven months. Entry at ₹305 was based on a breakout confirmation, followed by tranche-based accumulation as the stock hit new highs with strong volume. The stock peaked above ₹2900, and the disciplined exit at ₹1835 was triggered by a breakdown below EMA21 & PSAR with high selling pressure, avoiding further downside. The strategy effectively captured the uptrend while managing risk, reinforcing the importance of scaling during strength and exiting on clear weakness.

While nearly 37% of the gains were given away from the ATH, and other strategies can - no doubt - be deployed to better protect the gains, the elegance of this strategy is in its simplicity and in use of well regarded and freely available tools on the weekly timeframe of TradingView.