Current Price Action and Market Context
As of 24 Feb 2026, Adani Energy Solutions Ltd (stock code 999961) closed at ₹1,001.05, marking a modest intraday gain of 0.35% from the previous close of ₹997.60. The stock traded within a range of ₹993.10 to ₹1,009.35 during the session, remaining comfortably below its 52-week high of ₹1,067.30 but well above the 52-week low of ₹639.35. This price action suggests a consolidation phase near the upper end of its recent trading range, signalling potential for further upward momentum if key technical hurdles are surpassed.
Technical Trend Evolution
Adani Energy Solutions’ technical trend has shifted from a clear bullish stance to a mildly bullish one. This subtle change reflects a tempering of the strong upward momentum observed in prior months, possibly indicating a period of consolidation or cautious profit-taking by market participants. The daily moving averages remain bullish, supporting the stock’s short-term strength, but weekly and monthly indicators reveal a more nuanced outlook.
MACD Analysis
The Moving Average Convergence Divergence (MACD) indicator presents a bifurcated signal. On a weekly basis, the MACD is mildly bearish, suggesting that momentum may be waning in the near term. Conversely, the monthly MACD remains mildly bullish, indicating that the longer-term trend retains an upward bias. This divergence between weekly and monthly MACD readings highlights the importance of timeframe in technical analysis and suggests that while short-term caution is warranted, the broader trend remains constructive.
RSI and Momentum Indicators
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, hovering in neutral territory. This lack of extreme readings implies that the stock is neither overbought nor oversold, providing room for directional movement in either direction. The KST (Know Sure Thing) indicator aligns with the MACD, showing mild bearishness on the weekly scale but mild bullishness monthly, reinforcing the mixed momentum environment.
Bollinger Bands and Moving Averages
Bollinger Bands on both weekly and monthly charts maintain a bullish stance, indicating that price volatility remains supportive of upward price movement. The daily moving averages continue to signal bullish momentum, suggesting that short-term price action is positive. This combination of indicators points to a scenario where the stock may experience moderate gains, provided it sustains support above key moving averages.
Volume and Trend Confirmation
On-Balance Volume (OBV) analysis reveals no clear trend on the weekly scale but shows bullishness monthly. This suggests that while short-term volume patterns are inconclusive, longer-term accumulation by investors may be underpinning the stock’s price. Dow Theory assessments on both weekly and monthly charts indicate no clear trend, reflecting the current consolidation phase and the absence of decisive directional confirmation from price action alone.
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Comparative Returns and Market Performance
Examining Adani Energy Solutions’ returns relative to the Sensex provides further context. Over the past week, the stock declined marginally by 0.29%, slightly underperforming the Sensex’s 0.02% gain. However, over the last month, the stock surged by 22.94%, vastly outperforming the Sensex’s 2.15% rise. Year-to-date, the stock has dipped 2.74%, closely tracking the Sensex’s 2.26% decline. Over a one-year horizon, the stock delivered an impressive 49.50% return, significantly outpacing the Sensex’s 10.60%. Longer-term returns over three and five years show the stock lagging the Sensex, with 33.59% versus 39.74% and 36.49% versus 67.42%, respectively. Remarkably, the ten-year return stands at a staggering 3,247.99%, dwarfing the Sensex’s 255.80% gain, underscoring the company’s exceptional long-term growth trajectory.
Mojo Score and Rating Upgrade
MarketsMOJO has upgraded Adani Energy Solutions Ltd’s Mojo Grade from Sell to Hold as of 27 Jan 2026, reflecting an improved outlook based on a composite score of 51.0. The Market Cap Grade remains at 1, indicating a relatively modest market capitalisation compared to peers. This upgrade signals a cautious but positive reassessment of the stock’s prospects, aligning with the mixed but mildly bullish technical signals observed.
Investment Implications and Outlook
The current technical landscape for Adani Energy Solutions Ltd suggests a stock in transition. The daily moving averages and Bollinger Bands support continued upward momentum, while weekly MACD and KST indicators advise caution due to mild bearishness. The neutral RSI readings imply that the stock is not overextended, leaving room for either a breakout or a pullback depending on broader market conditions and sectoral developments.
Investors should monitor key support levels near the daily moving averages and watch for confirmation from weekly MACD and OBV trends. A sustained move above the recent intraday high of ₹1,009.35 could signal a resumption of stronger bullish momentum, while a break below ₹993.10 might indicate a deeper correction phase. Given the stock’s strong long-term returns and recent upgrade in Mojo Grade, a Hold rating appears prudent until clearer technical confirmation emerges.
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Sector and Industry Context
Operating within the Power sector and industry, Adani Energy Solutions Ltd faces a competitive environment characterised by regulatory shifts and evolving energy demand patterns. The sector’s overall momentum has been mixed, with intermittent volatility driven by policy announcements and commodity price fluctuations. The company’s ability to maintain technical resilience amid these headwinds is noteworthy, though investors should remain vigilant to sector-specific risks that could impact momentum.
Conclusion
Adani Energy Solutions Ltd currently exhibits a cautiously optimistic technical profile. The transition from bullish to mildly bullish trend, combined with mixed signals from MACD, KST, and OBV indicators, suggests a stock at a technical crossroads. While daily moving averages and Bollinger Bands provide a foundation for potential gains, weekly bearish signals counsel prudence. The recent Mojo Grade upgrade to Hold reflects this balanced outlook.
For investors, the stock’s strong long-term returns and improved fundamental assessment offer encouragement, but the near-term technical ambiguity advises a measured approach. Monitoring key technical levels and volume trends will be critical in determining the stock’s next directional move within the Power sector landscape.
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