Open Interest and Volume Dynamics
On 1 January 2026, Adani Energy Solutions Ltd (symbol: ADANIENSOL) recorded an open interest (OI) of 33,267 contracts in its derivatives, marking a 10.28% increase from the previous OI of 30,165. This rise of 3,102 contracts is significant, indicating fresh positions being established or existing ones being rolled over. The accompanying volume stood at 25,456 contracts, reflecting robust trading activity and heightened investor interest.
The futures value associated with these contracts was approximately ₹22,177.82 lakhs, while the options segment exhibited an enormous notional value of ₹16,484.99 crores, underscoring the scale of derivatives trading in this stock. The combined derivatives value reached ₹26,509.49 lakhs, highlighting the stock’s liquidity and attractiveness among traders.
Price Performance and Technical Indicators
Adani Energy Solutions has been on a positive trajectory, hitting a new 52-week high of ₹1,061.7 during intraday trading, a 3.34% gain on the day. The stock outperformed its sector by 0.69% and the broader Sensex by 2.58%, with a day return of 2.68% compared to the sector’s 1.74% and Sensex’s 0.10%. This marks the third consecutive day of gains, with a cumulative return of 5.4% over this period.
Technically, the stock is trading above all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – signalling a strong bullish trend. The rising delivery volume of 3.42 lakh shares on 31 December, up 26.9% against the five-day average, further confirms increasing investor participation and conviction in the stock’s upward momentum.
Market Positioning and Directional Bets
The surge in open interest alongside rising prices and volumes typically suggests fresh long positions being built by market participants, anticipating further upside. The increase in futures and options notional values points to active hedging and speculative strategies, with traders positioning for potential volatility or directional moves.
Given the stock’s large-cap status with a market capitalisation of ₹1,25,480 crores, such derivatives activity reflects institutional interest and confidence in the company’s fundamentals and sector outlook. However, the current Mojo Score of 36.0 and a Mojo Grade of Sell, upgraded from Strong Sell on 7 October 2025, indicate that while momentum is improving, caution remains warranted due to valuation concerns or sector headwinds.
Our current Stock of the Month is out! This Large Cap from Automobiles - Passenger Cars emerged as the single best opportunity from our elite universe. Get the details now!
- - Current monthly selection
- - Single best opportunity
- - Elite universe pick
Sector Context and Comparative Performance
The power sector has experienced mixed trends recently, with regulatory challenges and fluctuating demand impacting some players. Adani Energy Solutions’ outperformance relative to the sector’s 1.74% gain on the day suggests it is benefiting from company-specific catalysts or favourable market positioning.
Its liquidity profile, with the ability to handle trade sizes of up to ₹1.4 crore based on 2% of the five-day average traded value, makes it an attractive option for large institutional trades and derivatives strategies. This liquidity also supports the observed rise in open interest and volume, enabling smoother execution of sizeable positions.
Risks and Considerations
Despite the positive technical signals and increased market participation, investors should remain mindful of the stock’s current Mojo Grade of Sell. This rating reflects underlying concerns such as valuation pressures, sector volatility, or company-specific risks that could temper further gains.
Moreover, the sharp increase in derivatives activity can sometimes precede heightened volatility, as traders adjust positions in response to news flow or macroeconomic developments. Close monitoring of open interest trends, price action, and sector dynamics will be essential to gauge the sustainability of the current rally.
Holding Adani Energy Solutions Ltd from Power? See if there's a smarter choice! SwitchER compares it with peers and suggests superior options across market caps and sectors!
- - Peer comparison ready
- - Superior options identified
- - Cross market-cap analysis
Outlook and Investor Takeaways
Adani Energy Solutions’ recent surge in open interest and volume, combined with its strong price performance and technical positioning, suggests a growing bullish sentiment among market participants. The stock’s ability to sustain above key moving averages and its rising delivery volumes indicate genuine investor interest rather than speculative noise.
However, the current Mojo Grade of Sell advises prudence, signalling that while momentum is improving, fundamental challenges or valuation concerns remain. Investors should weigh these factors carefully and consider the broader power sector environment before committing fresh capital.
For traders, the elevated derivatives activity offers opportunities to capitalise on directional bets, but also necessitates vigilant risk management given the potential for increased volatility. Monitoring open interest trends and price action in the coming sessions will be crucial to confirm the durability of this uptrend.
Summary
In summary, Adani Energy Solutions Ltd is exhibiting signs of renewed market interest, as evidenced by a 10.28% rise in open interest and strong volume participation in its derivatives. The stock’s recent 52-week high and outperformance relative to sector and benchmark indices underscore positive momentum. Yet, the cautious Mojo Grade and sector headwinds counsel a balanced approach, blending optimism with risk awareness.
Investors and traders alike should continue to analyse evolving market positioning and technical signals to make informed decisions in this dynamic environment.
Only Rs. 9,999 - Get MojoOne + Stock of the Week for 1 Year (MRP = Rs. 34,999) Start Saving Now →
