Key Events This Week
2 Feb: Intraday high with 3.49% surge to Rs.828
3 Feb: Strong gap up and 8.16% intraday gain to Rs.951.35
4 Feb: Continued momentum with 3.65% surge, intraday high Rs.962
5 Feb: Bearish momentum signals amid mixed technicals, close at Rs.954.20
6 Feb: Week closes at Rs.971.55, up 0.41% on day
2 February 2026: Intraday High Signals Early Rebound
Adani Green Energy Ltd began the week with a notable intraday surge of 3.49%, reaching a high of Rs.828 despite closing lower at Rs.842.80 (-1.06%). This rebound followed two prior days of decline and was accompanied by significant intraday volatility, with a weighted average price movement of 21.96%. The stock outperformed the Sensex, which declined 1.03% to 35,814.09, and the power sector peers by 2.6%, signalling early signs of short-term momentum recovery.
However, the stock remained below its longer-term moving averages (20-day, 50-day, 100-day, and 200-day), indicating that while short-term buying interest was strong, the broader downtrend was still intact. MarketsMOJO maintained a Strong Sell rating with a Mojo Score of 7.0, reflecting cautious sentiment despite the intraday strength.
3 February 2026: Gap Up and 8.16% Surge Amid Mixed Market
The momentum accelerated on 3 February as Adani Green Energy opened with a strong gap up of nearly 10%, reflecting robust buying interest. The stock touched an intraday high of Rs.951.35, a 12.88% increase from the previous close, and closed with an 8.16% gain at Rs.932.25. This performance was remarkable given the Sensex’s 2.63% rise to 36,755.96 and the power sector’s 2.74% gain, with Adani Green outperforming both benchmarks significantly.
Technical indicators showed the stock trading above its 5-day and 20-day moving averages, signalling short-term bullishness, though it remained below longer-term averages. Despite this, bearish momentum indicators such as MACD and Bollinger Bands suggested caution. The stock’s high beta of 1.78 contributed to its pronounced volatility during the session.
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4 February 2026: Sustained Gains with 3.65% Intraday Surge
On 4 February, Adani Green Energy continued its upward trajectory, gaining 3.65% to close at Rs.954.20, with an intraday high of Rs.962. This marked the third consecutive day of gains, cumulatively delivering a 19.06% return over the period. The stock outperformed the power sector’s 2.46% rise and the Sensex’s marginal 0.37% gain, underscoring its relative strength amid mixed market conditions.
Despite this momentum, the stock remained below its 50-day and longer moving averages, indicating that the longer-term downtrend was yet to be decisively broken. Technical indicators presented a mixed picture, with mildly bearish Bollinger Bands and a Strong Sell Mojo Score of 13.0, reflecting ongoing caution among investors.
5 February 2026: Bearish Momentum Emerges Amid Mixed Technical Signals
On 5 February, the stock closed at Rs.967.60, up 1.40%, but technical indicators signalled a shift from mildly bearish to bearish momentum. The Moving Average Convergence Divergence (MACD) remained bearish on weekly charts, while monthly charts showed mild bullishness, reflecting uncertainty in trend direction. The Relative Strength Index (RSI) hovered neutrally, and Bollinger Bands suggested increased volatility with a downward bias.
On-Balance Volume (OBV) readings were inconclusive, indicating a lack of strong conviction among buyers or sellers. The stock’s market capitalisation grade remained low at 1, and the Mojo Score stayed at 7.0 with a Strong Sell rating, underscoring persistent fundamental and technical challenges despite short-term price gains.
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6 February 2026: Week Closes with Modest Gain Amid Volatility
The week concluded on 6 February with Adani Green Energy edging up 0.41% to Rs.971.55, marking the highest close of the week. The Sensex also gained 0.10% to 36,730.20. The stock’s volume remained moderate at 259,421 shares, reflecting cautious participation after a week of sharp price swings.
While the stock outperformed the benchmark index by a wide margin over the week, the technical landscape remains mixed. The stock trades above its 5-day and 20-day moving averages but below longer-term averages, and momentum indicators continue to send conflicting signals. The Strong Sell Mojo Grade and low market capitalisation rating highlight ongoing risks despite recent rallies.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.842.80 | -1.06% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.932.25 | +10.61% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.954.20 | +2.35% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.967.60 | +1.40% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.971.55 | +0.41% | 36,730.20 | +0.10% |
Key Takeaways
Adani Green Energy Ltd’s 14.05% weekly gain significantly outpaced the Sensex’s 1.51% rise, driven by a series of sharp intraday rallies and a strong gap up on 3 February. The stock demonstrated resilience amid a volatile market, supported by short-term bullish momentum above key short-term moving averages.
However, the technical picture remains mixed, with the stock still trading below longer-term moving averages and exhibiting bearish momentum indicators such as MACD and Bollinger Bands. The high beta of 1.78 contributed to pronounced price swings, underscoring the stock’s volatility risk.
MarketsMOJO’s Strong Sell rating with a Mojo Score fluctuating between 7.0 and 13.0 throughout the week reflects ongoing caution, highlighting fundamental and technical challenges despite intermittent rallies. The low market capitalisation grade of 1 further emphasises the stock’s relative vulnerability within the power sector.
Investors should note the stock’s recent intraday highs near Rs.962 and the critical 52-week high of Rs.1,179.20 as key resistance levels, while the 52-week low of Rs.758.00 remains an important support benchmark. The mixed signals from momentum and volume indicators suggest that the stock is in a consolidation phase, with potential for both volatility and trend shifts in the near term.
Conclusion
Adani Green Energy Ltd’s week was characterised by strong short-term gains and notable volatility, reflecting a tentative recovery amid a broader cautious market environment. The stock’s ability to outperform the Sensex by a wide margin is tempered by persistent technical and fundamental headwinds, as evidenced by mixed momentum indicators and a Strong Sell rating from MarketsMOJO.
While the recent rallies offer pockets of strength, the stock remains in a consolidation phase below key longer-term moving averages, with bearish momentum signals suggesting that caution is warranted. Investors should closely monitor technical levels and volume trends for clearer indications of sustained directional movement. Until then, the stock’s elevated volatility and mixed signals imply a complex risk-reward profile in the near term.
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