Key Events This Week
Jan 19: Stock opens week at Rs.1,402.50, down 1.34%
Jan 22: Sharp open interest surge amid rising momentum, stock gains 2.57%
Jan 23: Intraday low hit amid price pressure, heavy put option activity
Jan 23: Week closes at Rs.1,307.60, down 7.52% on the day
Monday, 19 January 2026: Weak Start Amid Broader Market Decline
Adani Ports began the week on a subdued note, closing at Rs.1,402.50, down 1.34% from the previous Friday’s close of Rs.1,421.50. The decline was sharper than the Sensex’s 0.49% fall to 36,650.97, signalling early weakness. Trading volume was moderate at 40,034 shares, reflecting cautious investor sentiment as the broader market faced selling pressure.
Tuesday, 20 January 2026: Accelerated Decline Amid Market Turmoil
The stock extended losses, dropping 2.40% to Rs.1,368.90, underperforming the Sensex’s 1.82% fall to 35,984.65. Volume increased slightly to 44,404 shares, indicating growing investor concern. The transport infrastructure sector also faced headwinds, contributing to the stock’s underperformance. This marked the lowest close for the stock since the start of the week.
Wednesday, 21 January 2026: Modest Recovery on Higher Volumes
Adani Ports rebounded modestly, gaining 0.70% to close at Rs.1,378.45. This recovery came on a surge in volume to 92,778 shares, more than double the previous day, suggesting renewed buying interest. Despite the gain, the Sensex continued to decline by 0.47% to 35,815.26, highlighting the stock’s relative resilience amid a weak market backdrop.
Thursday, 22 January 2026: Sharp Open Interest Surge Supports Price Rally
On 22 January, the stock surged 2.57% to Rs.1,413.90, outperforming the Sensex’s 0.76% gain to 36,088.66. This rally coincided with a significant 22.78% increase in open interest in the derivatives segment, rising to 107,316 contracts. The futures and options turnover was substantial, with combined notional values exceeding ₹2.65 lakh crores, reflecting heightened market participation and directional bets.
Investor delivery volumes also rose sharply, with 10.89 lakh shares delivered on 21 January, a 54.11% increase over the five-day average, indicating genuine accumulation. Technical indicators showed the stock trading above its 5-day and 200-day moving averages, signalling short-term support despite resistance at medium-term averages.
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Friday, 23 January 2026: Heavy Selling Pressure and Elevated Put Option Activity
The week ended on a sharply negative note as Adani Ports plunged 7.52% to Rs.1,307.60, with an intraday low of Rs.1,295.20. This decline was more severe than the Sensex’s 1.33% fall to 35,609.90 and the transport infrastructure sector’s 8.01% drop, underscoring sector-specific headwinds and stock-specific selling pressure.
Put option activity surged dramatically, with 15,530 contracts traded at the ₹1,300 strike price ahead of the 27 January expiry. The total turnover in put options reached ₹989.22 lakhs, signalling increased bearish positioning and hedging. Open interest in derivatives rose 18.7% to 1,03,869 contracts, despite the price decline, indicating aggressive short positioning or fresh long hedges amid volatility.
Technical indicators showed the stock trading below all key moving averages (5-day, 20-day, 50-day, 100-day, and 200-day), reflecting a bearish setup. The weighted average price skewed towards the day’s lows, confirming selling dominance. Delivery volumes remained elevated at 8.71 lakh shares, 3.01% above the five-day average, suggesting active investor repositioning.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.1,402.50 | -1.34% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.1,368.90 | -2.40% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.1,378.45 | +0.70% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.1,413.90 | +2.57% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.1,307.60 | -7.52% | 35,609.90 | -1.33% |
Key Takeaways
1. Volatility and Divergence: Adani Ports exhibited significant volatility, with an 8.01% weekly decline that outpaced the Sensex’s 3.31% fall, reflecting stock-specific pressures amid broader market weakness.
2. Derivatives Market Activity: Sharp surges in open interest and heavy put option trading at the ₹1,300 strike price indicate increased bearish sentiment and hedging, signalling investor caution ahead of the 27 January expiry.
3. Technical Weakness: The stock’s position below all major moving averages on Friday highlights a bearish technical setup, suggesting resistance to near-term recovery despite intermittent rallies.
4. Delivery Volume and Investor Participation: Elevated delivery volumes throughout the week suggest active repositioning by investors, with genuine accumulation on some days and profit-taking or hedging on others.
Overall, the week’s price action and market data portray a stock grappling with near-term headwinds amid a challenging sectoral and macroeconomic environment. The improved Mojo Score of 57.0 and Hold rating reflect a cautious stance, balancing recent weakness with stabilising fundamentals.
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