Adani Green Energy Ltd Declines 2.16%: Mixed Technical Signals and Market Pressure Shape the Week

9 February: Technical Momentum Shifts Amid Mixed Market Signals

Adani Green Energy began the week on a cautiously optimistic note, closing at Rs.982.75, up 1.15% from the previous close. Technical indicators revealed a nuanced shift from bearish to mildly bearish momentum, with the MACD and KST oscillators showing mixed signals across weekly and monthly timeframes. The stock traded within a narrow range of Rs.954.25 to Rs.974.60, well below its 52-week high of Rs.1,179.20 but comfortably above its 52-week low of Rs.758.00.

Despite the slight uptick, daily moving averages remained bearish, signalling short-term downward pressure. The On-Balance Volume (OBV) readings were mildly bullish, suggesting some accumulation despite price weakness. This complex technical backdrop reflected investor caution amid broader market fluctuations, with the Sensex also gaining 1.04% that day.

10-12 February: Mixed Price Movements Amid Low Volatility

The stock experienced minor fluctuations over the next three trading days. On 10 February, Adani Green slipped 0.39% to Rs.978.90 despite the Sensex rising 0.25%. The following day, the stock rebounded 1.60% to Rs.994.60, outperforming the Sensex’s modest 0.13% gain. On 12 February, it added a further 0.26% to Rs.997.20, even as the Sensex declined 0.56%, marking the week’s highest close for the stock.

These movements reflected a consolidation phase with limited volatility and mixed technical signals. The stock remained above its 20-day moving average but below longer-term averages, indicating resistance at multiple levels. Trading volumes were moderate, with a notable drop on 12 February to 68,364 shares, suggesting subdued investor activity ahead of the week’s close.

13 February: Intraday Low and Sharp Decline Amid Market Weakness

The week ended on a negative note as Adani Green Energy’s shares fell sharply by 4.68% intraday, closing at Rs.950.55, down 3.66% on the day. The stock hit an intraday low of Rs.955.55, marking a 4.18% drop from the previous close. This decline interrupted a two-day streak of gains and reflected immediate downward pressure amid a broadly negative market environment.

The stock underperformed both its sector peers and the Sensex, which declined 1.40% on the same day. Technical analysis showed the stock trading below its 5-day, 50-day, 100-day, and 200-day moving averages, signalling resistance at multiple levels despite remaining above the 20-day average. This alignment indicated a cautious market stance with short-term volatility amid a broader downtrend.

Broader market weakness was evident as the Sensex opened sharply lower by 772.19 points and traded near 36,532.48 by close. The Sensex’s technical indicators suggested subdued short-term momentum despite a longer-term positive bias, contributing to the cautious sentiment impacting Adani Green Energy’s shares.

Daily Price Comparison: Adani Green Energy Ltd vs Sensex

Key Takeaways from the Week

1. Mixed Technical Momentum: The stock’s technical indicators presented a complex picture, with mildly bearish short-term signals contrasting with some stabilising longer-term momentum. The MACD and KST oscillators showed divergence between weekly and monthly charts, while moving averages indicated resistance at multiple levels.

2. Underperformance Relative to Sensex: Adani Green Energy declined 2.16% over the week, underperforming the Sensex’s 0.54% fall. The sharper drop on 13 February amid broader market weakness highlighted the stock’s vulnerability in volatile conditions.

3. Intraday Price Pressure: The intraday low of Rs.955.55 on 13 February marked a significant price test, reflecting immediate selling pressure and a break from the prior two-day gains. This intraday weakness was more pronounced than sector peers and the benchmark index.

4. Volume and Trading Activity: Trading volumes fluctuated, with a peak of 258,751 shares on 10 February and a low of 68,364 on 12 February, indicating uneven investor participation. The volume trends aligned with the On-Balance Volume’s mildly bullish readings, suggesting some accumulation despite price declines.

5. Strong Sell Mojo Grade: The stock’s Mojo Score of 13.0 and Strong Sell grade as of early January 2026 reflect ongoing caution from analysts and technical evaluators. This rating underscores the risks associated with the stock amid sectoral headwinds and market volatility.

Conclusion

Adani Green Energy Ltd’s performance during the week ending 13 February 2026 was characterised by mixed technical signals and a notable decline in the final session. Despite early-week gains and some signs of longer-term stabilisation, the stock ultimately fell 2.16%, underperforming the Sensex and facing resistance at key moving averages. The intraday low and sharp price pressure on 13 February highlighted the fragile sentiment surrounding the stock amid broader market weakness.

The company’s Strong Sell Mojo Grade and cautious technical momentum suggest that investors should remain vigilant. While some volume indicators hint at accumulation, the prevailing environment calls for prudence given the stock’s relative underperformance and sector challenges. Monitoring technical developments and market conditions will be essential for assessing future price direction.

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