Adani Energy Solutions Gains 1.35%: 4 Key Factors Driving This Week’s Momentum

23 February 2026: Surge in Derivatives Open Interest Signals Renewed Investor Interest

Adani Energy Solutions began the week with a notable 0.64% gain, closing at Rs.1,004.00 on 23 February 2026. This price rise coincided with a sharp 20.4% increase in derivatives open interest, which climbed to 50,956 contracts from 42,330 previously. The surge in open interest, alongside a daily volume of 24,537 contracts, indicated heightened market participation and fresh capital inflows.

The futures segment alone accounted for a value of approximately ₹1,09,448 lakhs, with options contributing ₹5,725 crores, culminating in a total derivatives value exceeding ₹1,10,021 lakhs. This activity suggested that traders and institutional investors were repositioning themselves, potentially anticipating upward price movement.

Technically, the stock remained above its 20-day, 50-day, 100-day, and 200-day moving averages, signalling underlying strength despite trading slightly below the 5-day average. Delivery volumes surged by 180.95% compared to the five-day average, underscoring genuine buying interest rather than speculative trading. The stock’s market capitalisation stood at ₹1,20,134.27 crore, reflecting its large-cap status and liquidity suitable for sizeable trades.

24 February 2026: Intraday High and Outperformance Amid Market Weakness

The stock surged 3.01% on 24 February 2026, closing at Rs.1,037.50 and touching an intraday high of Rs.1,029. This strong performance came despite a broadly declining Sensex, which fell 0.78% that day. Adani Energy Solutions outperformed its power sector peers by 2.39%, signalling robust buying momentum.

Trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, the stock demonstrated strong technical momentum. It remained just 3.74% below its 52-week high of Rs.1,067.30, indicating proximity to peak levels.

MarketsMOJO’s Mojo Score stood at 51.0 with a Hold rating, upgraded from Sell on 27 January 2026. The stock’s relative performance over various timeframes was impressive, with a one-month return of 27.09% vastly outpacing the Sensex’s 0.82% gain, and a one-year return of 54.62% compared to the Sensex’s 10.42%.

Technical indicators presented a mixed picture, with some oscillators signalling caution amid strong moving average support, suggesting a consolidation phase rather than a reversal.

Technical Momentum Shifts: From Bullish to Mildly Bullish on 24 February

Alongside the price surge on 24 February, technical momentum shifted from bullish to mildly bullish. The stock closed at Rs.1,001.05, trading within a range of Rs.993.10 to Rs.1,009.35. Oscillators such as the weekly MACD and KST showed mild bearishness, while monthly indicators remained mildly bullish, reflecting a nuanced technical stance.

The Relative Strength Index (RSI) hovered in neutral territory, indicating neither overbought nor oversold conditions. Bollinger Bands and moving averages maintained a bullish outlook, suggesting contained volatility within an upward channel.

On-Balance Volume (OBV) was bullish on the monthly scale but inconclusive weekly, while Dow Theory assessments showed no definitive trend, signalling a market awaiting clearer directional confirmation.

The Hold rating and Mojo Score of 51.0 reflected this cautious optimism, advising investors to monitor developments closely while recognising the stock’s strong long-term growth trajectory.

25 February 2026: Bullish Momentum Confirmed with Technical Upgrades

On 25 February, Adani Energy Solutions confirmed a bullish momentum shift, closing at Rs.1,037.50 with a 3.34% gain. The stock traded near its 52-week high, supported by strong buying interest and technical upgrades.

The overall technical trend upgraded from mildly bullish to bullish, with daily moving averages firmly supporting the price action. The monthly MACD turned mildly bullish, while weekly MACD and KST oscillators remained mildly bearish, indicating short-term consolidation amid strengthening longer-term momentum.

RSI readings stayed neutral, allowing room for further gains without immediate correction risk. Bollinger Bands on weekly and monthly charts remained bullish, with price action near the upper band, signalling strong momentum but caution near resistance.

OBV analysis suggested longer-term accumulation, and Dow Theory assessments indicated a mildly bullish weekly trend. The Mojo Score improved to 58.0 with a Hold rating, reflecting enhanced fundamentals and technical outlook.

Sector tailwinds from renewable energy demand and government initiatives supported the stock’s positive momentum within the power sector.

Daily Price Performance vs Sensex: 23–27 February 2026

Key Takeaways from the Week

Positive Signals: The 20.4% surge in derivatives open interest on 23 February indicated renewed investor confidence and fresh capital inflows. The stock’s ability to outperform the Sensex by 2.31% over the week, closing with a 1.35% gain despite broader market weakness, underscores its relative strength.

Technical upgrades from mildly bullish to bullish momentum, supported by moving averages and Bollinger Bands, suggest a constructive medium- to long-term outlook. The proximity to the 52-week high and strong relative returns over one month (27.42%) and one year (55.01%) highlight the stock’s robust performance trajectory.

Cautionary Signals: Mixed oscillator readings, including mildly bearish weekly MACD and KST indicators, alongside neutral RSI levels, counsel prudence for short-term traders. The stock’s volatility and proximity to resistance near its 52-week high may invite profit-taking and intermittent pullbacks.

The Hold rating and Mojo Score of 58.0 reflect a balanced stance, advising measured exposure while monitoring technical developments closely.

Conclusion: A Week of Measured Gains and Technical Consolidation

Adani Energy Solutions Ltd demonstrated resilience and relative outperformance during the week ending 27 February 2026, gaining 1.35% against a 0.96% decline in the Sensex. The week was marked by a significant rise in derivatives open interest, strong intraday gains, and a technical momentum shift towards a bullish trend.

While short-term oscillators suggest some caution, the stock’s position above key moving averages and positive volume patterns support a cautiously optimistic outlook. Investors should continue to monitor price action near resistance levels and watch for confirmation of sustained momentum or signs of consolidation.

Overall, the week’s developments position Adani Energy Solutions as a stock exhibiting measured strength amid a mixed market environment, with technical upgrades and rising investor activity underpinning its performance.