Akashdeep scored a field goal in the 65th minute, which eventually sealed the match in the hosts' favour.
The narrow win not only helped the Waveriders avenge their 0-1 loss to the same opponents in their earlier meeting this season but also gave them a sweet revenge of their defeat at the hands of the Rhinos in last edition's summit clash.
It was a neck-and-neck fight between the Waveriders and the Rhinos, the two finest teams of the league, as play was mostly confined at the midfield in the opening two quarters.
If the Waveriders dominated the early share of exchanges, the Rhinos had the better share of ball possession in the second quarter.
Such was the intense battle between the two teams that the first penalty corner of the game came as late as in the 30th minute in favour of the Rhinos, but they failed to stop the push properly to waste the chance as the stalemate continued.