Adani Energy Solutions Sees Sharp Surge in Derivatives Open Interest Amid Rising Investor Activity

Open Interest and Volume Dynamics

The latest data reveals that open interest (OI) in Adani Energy Solutions Ltd’s derivatives rose from 42,330 contracts to 50,956, an increase of 8,626 contracts. This 20.38% jump is significant in the context of the stock’s recent trading activity. Concurrently, the volume stood at 24,537 contracts, indicating robust participation in the derivatives market.

Financially, the futures segment accounted for ₹1,09,448.17 lakhs in value, while options contributed a substantial ₹5,725.02 crores, culminating in a total derivatives value of approximately ₹1,10,021.62 lakhs. The underlying stock price hovered around ₹1,000, reflecting stability amid the derivatives market activity.

Price and Trend Analysis

Adani Energy Solutions’ stock price has shown resilience, gaining 0.20% on the day, in line with the power sector’s performance and slightly lagging the Sensex’s 0.44% rise. Notably, the stock reversed its downward trajectory after two consecutive days of decline, signalling renewed buying interest.

Technical indicators reveal the stock is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, underscoring a medium to long-term bullish trend. However, it remains below the 5-day moving average, suggesting some short-term consolidation or profit booking.

Investor Participation and Liquidity

Investor engagement has surged, with delivery volumes on 20 Feb reaching 13.76 lakh shares, a remarkable 180.95% increase compared to the five-day average delivery volume. This spike indicates strong conviction among investors to hold shares rather than trade intraday, a positive sign for the stock’s underlying demand.

Liquidity remains adequate, with the stock’s traded value supporting trade sizes up to ₹2.7 crore based on 2% of the five-day average traded value. This level of liquidity is favourable for institutional investors and large traders seeking to build or unwind positions without significant market impact.

Market Positioning and Directional Bets

The surge in open interest alongside rising volumes suggests that market participants are actively repositioning themselves in Adani Energy Solutions. The increase in OI typically indicates fresh money entering the market, either through new long positions or short covering. Given the stock’s recent price recovery after a brief dip, it is plausible that traders are betting on an upward trajectory in the near term.

Moreover, the stock’s Mojo Score has improved to 58.0, upgrading its Mojo Grade from Sell to Hold as of 27 Jan 2026. This upgrade reflects a more favourable outlook based on fundamental and technical parameters, although the grade remains cautious, signalling that investors should monitor developments closely.

Adani Energy Solutions operates within the power sector, a segment that has shown steady performance and resilience amid broader market volatility. The company’s large-cap status, with a market capitalisation of ₹1,20,134.27 crore, adds to its appeal for institutional investors seeking stable exposure in the energy space.

Comparative Sector and Market Context

On the day in question, the power sector matched the stock’s 0.20% gain, while the Sensex outperformed with a 0.44% rise. This relative performance suggests that Adani Energy Solutions is tracking sector trends but has yet to fully capitalise on broader market momentum. The stock’s positioning above key moving averages, however, indicates underlying strength that could support further gains if sectoral tailwinds persist.

Investors should also note the stock’s delivery volume spike, which often precedes sustained price moves as it reflects genuine investor interest rather than speculative trading. This factor, combined with the derivatives market activity, points to a growing consensus on the stock’s potential direction.

Implications for Investors

The recent open interest surge and volume patterns in Adani Energy Solutions’ derivatives market provide valuable insights for investors and traders. The data suggests a growing conviction in the stock’s near-term prospects, supported by improving fundamentals and technical indicators.

However, the Hold rating and Mojo Grade of 58.0 imply that while the stock is no longer a sell, it may not yet be a strong buy. Investors should weigh the potential upside against sectoral risks and broader market conditions. Monitoring open interest trends and delivery volumes in the coming sessions will be crucial to confirm sustained momentum.

Given the stock’s liquidity and large-cap status, it remains an attractive option for portfolio diversification within the power sector. Yet, cautious investors may consider comparing it with peers and alternative opportunities to optimise returns.

Conclusion

Adani Energy Solutions Ltd’s recent spike in open interest and volume in the derivatives market signals a shift in market sentiment and positioning. The stock’s technical strength, combined with improved investor participation, points to potential directional bets favouring an upward move. Nonetheless, the Hold rating and moderate Mojo Score counsel prudence, suggesting investors should stay alert to evolving market dynamics before committing significant capital.

As the power sector continues to navigate a complex macroeconomic environment, Adani Energy Solutions’ performance and market activity will remain a key barometer for investors seeking exposure to this vital industry segment.

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