Adani Power Gains 3.66%: 8 Key Factors Driving the Week’s Momentum

24 August 2026: Open Interest Surges Amid Mixed Signals

Adani Power began the week with a notable 11.7% increase in open interest in its derivatives segment, rising to 82,496 contracts. This surge indicated fresh market positioning despite the stock’s underlying equity price declining by 0.78% to Rs.203.40, underperforming the Sensex’s 0.12% fall. The stock traded below its short- and medium-term moving averages but remained above the 200-day average, signalling long-term support amid short-term selling pressure. Delivery volumes declined by 22.3%, suggesting reduced conviction among long-term holders. The derivatives turnover was robust, with futures and options combined valued at over ₹1.57 lakh crores, highlighting active speculative and hedging interest.

26 August 2026: Mojo Grade Upgrade Spurs Robust Trading

Midweek saw a positive shift as Adani Power’s Mojo Grade was upgraded from Sell to Hold, with the Mojo Score improving to 57.0. This upgrade coincided with strong trading activity, with the stock closing at Rs.207.35, up 0.51%, outperforming the power sector’s 0.33% decline and the Sensex’s 0.03% fall. Open interest rose again by 11.13% to 62,367 contracts, supported by a volume of 46,726 contracts. Delivery volumes increased by 17.7%, reflecting growing investor conviction. The stock traded above its 5-day, 20-day, and 200-day moving averages, though resistance remained at the 50-day and 100-day levels. The total traded value exceeded ₹31,000 lakhs, underscoring strong liquidity and institutional interest.

27 August 2026: Intraday High and Exceptional Volume Surge

Adani Power demonstrated strong momentum on 27 August, surging 3.64% intraday to a high of Rs.214.90 and closing at Rs.214.90, a 4.15% gain for the day. This outperformance was notable against the Sensex’s 0.52% decline and the power sector’s 0.30% fall. The stock’s three-day cumulative return reached 5.63%, supported by a remarkable volume of 1.54 crore shares and a traded value of ₹321.97 crores. Delivery volumes surged 58.41% to 78.96 lakh shares, signalling strong institutional accumulation. The stock traded above its 5-day, 20-day, 100-day, and 200-day moving averages, though it remained below the 50-day average, indicating some resistance ahead. Technical indicators presented a mixed picture, with daily momentum positive but weekly and monthly signals showing mild bearish tendencies.

27 August 2026: Surge in Call and Put Option Activity Ahead of September Expiry

Derivatives activity intensified with a surge in both call and put option volumes ahead of the 29 September expiry. Call options at strikes of 215 and 220 attracted significant open interest and turnover, reflecting bullish positioning with expectations of upside beyond current levels. The 215 strike call saw 8,792 contracts traded with a turnover of ₹2,203.54 lakhs, while the 220 strike call recorded 7,514 contracts and ₹1,395.09 lakhs turnover. Concurrently, put options at strikes 200 and 210 also saw heavy activity, signalling hedging or cautious bearish sentiment. The 210 strike put option led with 2,684 contracts traded and ₹545.01 lakhs turnover. This mixed derivatives positioning suggests investors are balancing optimism with risk management amid a narrowing trading range and rising delivery volumes.

28 August 2026: Week Closes with Positive Momentum

Adani Power closed the week at Rs.212.50, marking a 3.66% gain from the previous Friday’s close of Rs.205.00. This performance significantly outpaced the Sensex’s marginal decline of 0.05%, underscoring the stock’s relative strength. The week’s high of Rs.214.90 was recorded on 27 August, reflecting strong intraday buying interest. Despite a slight pullback of 1.12% on the final trading day, the overall weekly trend remained positive, supported by robust volumes and sustained institutional participation. The stock’s large-cap status, with a market capitalisation exceeding ₹4 lakh crore, and its upgraded Mojo Grade to Hold, position it as a key player within the power sector.

Key Takeaways

Positive Signals: The stock’s 3.66% weekly gain outperformed the Sensex’s slight decline, supported by a strong surge in derivatives open interest and trading volumes. The upgrade in Mojo Grade to Hold reflects improving fundamentals and market sentiment. Institutional participation increased markedly, as evidenced by rising delivery volumes and high-value trades. Technical positioning above short- and long-term moving averages indicates underlying support, while call option activity suggests bullish expectations near the 215-220 strike range.

Cautionary Notes: Despite positive momentum, the stock faces resistance near the 50-day and 100-day moving averages. The simultaneous surge in put option volumes near current price levels signals hedging or cautious bearish sentiment. Mixed technical indicators on weekly and monthly timeframes warrant vigilance. The narrow intraday trading ranges and mixed derivatives positioning suggest consolidation and the need for confirmation of sustained uptrend.

Conclusion

Adani Power Ltd’s performance over the week ending 28 August 2026 was characterised by a constructive price rally, robust trading volumes, and heightened derivatives activity. The upgrade to a Hold Mojo Grade and strong institutional interest underpin a cautiously optimistic outlook. While the stock has demonstrated resilience and outperformance relative to the Sensex and power sector, technical resistance and mixed option market signals advise prudence. Investors and traders should closely monitor price action, volume trends, and open interest patterns as the September expiry approaches to better gauge the sustainability of the current momentum in this large-cap power sector stock.

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