Key Events This Week
23 Mar: Intraday low amid price pressure (Rs.144.7)
24 Mar: Intraday high with 3.88% surge (Rs.153.8)
25 Mar: Intraday high with 3.06% surge (Rs.154.9)
27 Mar: Week closes at Rs.153.85 (+0.13%)
23 March 2026: Intraday Low Amid Price Pressure
Adani Power Ltd opened the week under pressure, closing at Rs.148.05, down 2.28% from the previous close. The stock hit an intraday low of Rs.144.7, marking a 4.49% drop from the prior close, reflecting significant selling pressure. This decline outpaced the Sensex’s 3.13% fall to 32,377.87, indicating relative weakness. The broader power sector also faced headwinds, declining nearly 3%, which compounded the stock’s underperformance.
Despite this short-term weakness, the stock remained above its 20-day, 50-day, and 200-day moving averages, suggesting underlying medium- and long-term support. However, it traded below its 5-day and 100-day averages, signalling short-term hesitation among traders. The market environment was broadly negative, with the Sensex nearing its 52-week low and exhibiting a bearish technical configuration.
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24 March 2026: Strong Intraday Rally with 3.88% Surge
The stock rebounded sharply on 24 March, surging to an intraday high of Rs.153.8, a 3.88% increase from the previous close. It closed the day at Rs.150.10, up 1.38%, outperforming the Sensex’s 1.95% gain to 33,009.57. The stock opened with a gap up of 2.13%, maintaining upward momentum throughout the session.
Adani Power’s performance stood out amid a cautious market environment where the Sensex remained below its 50-day moving average. The stock traded above all key moving averages, signalling a sustained upward trend. Technical indicators such as the MACD and Bollinger Bands supported this bullish momentum, while the RSI suggested no immediate overbought conditions.
This rally reflected renewed investor interest and improved sentiment, supported by the stock’s upgraded Mojo Grade of ‘Hold’ with a score of 50.0, an improvement from a prior ‘Sell’ rating. The stock’s relative strength within the power sector and against the broader market was evident.
25 March 2026: Continued Momentum with 3.06% Gain
Adani Power Ltd extended its gains on 25 March, hitting an intraday high of Rs.154.9, a 3.2% rise from the previous close. The stock closed at Rs.153.65, up 2.37%, outperforming the Sensex’s 1.93% rise to 33,645.89. It opened with a 2.07% gap up, maintaining strong buying interest throughout the day.
The stock’s technical profile remained robust, trading above all major moving averages and supported by bullish MACD and Bollinger Bands on weekly and monthly charts. Despite a bearish weekly KST indicator, the overall technical outlook was positive, reflecting steady accumulation and momentum.
This performance underscored the stock’s resilience amid a market rally led by mega-cap stocks. The Mojo Score of 50.0 and ‘Hold’ rating reflected a balanced risk-reward profile, with the stock demonstrating relative strength within its sector and versus the benchmark index.
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27 March 2026: Week Closes with Marginal Gain
The week concluded on 27 March with Adani Power Ltd closing at Rs.153.85, a slight gain of 0.13% on the day. This modest increase came despite the Sensex falling 2.11% to 32,935.19, highlighting the stock’s relative strength in a volatile market. Trading volume surged to 2,771,903 shares, indicating heightened investor interest.
The stock’s ability to hold gains above Rs.153 after two consecutive days of strong rallies suggests consolidation at higher levels. Technical indicators remain supportive, with the stock maintaining its position above key moving averages and exhibiting bullish signals on monthly charts.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-03-23 | Rs.148.05 | -2.28% | 32,377.87 | -3.13% |
| 2026-03-24 | Rs.150.10 | +1.38% | 33,009.57 | +1.95% |
| 2026-03-25 | Rs.153.65 | +2.37% | 33,645.89 | +1.93% |
| 2026-03-27 | Rs.153.85 | +0.13% | 32,935.19 | -2.11% |
Key Takeaways
Adani Power Ltd demonstrated notable resilience during a volatile week, closing with a 1.55% gain while the Sensex declined 1.46%. The stock’s recovery from an intraday low of Rs.144.7 on 23 March to a high of Rs.154.9 on 25 March highlights strong intraday momentum and investor interest.
Technical indicators largely support a bullish medium- to long-term outlook, with the stock trading above all major moving averages and exhibiting positive MACD and Bollinger Band signals. The upgraded Mojo Grade of ‘Hold’ with a score of 50.0 reflects a balanced risk profile amid mixed market conditions.
However, short-term caution remains warranted given the stock’s initial weakness on 23 March and the broader market’s bearish technical setup. The stock’s outperformance relative to the Sensex and sector peers suggests it is better positioned to weather market volatility.
Conclusion
Adani Power Ltd’s performance over the week ending 27 March 2026 was characterised by a recovery from early weakness and sustained gains supported by strong technical indicators and improved market sentiment. The stock’s ability to outperform the Sensex amid a challenging environment underscores its relative strength within the power sector.
While the ‘Hold’ rating and Mojo Score of 50.0 indicate a neutral stance, the stock’s recent price action and technical profile suggest it remains well supported. Investors should continue to monitor broader market trends and sector dynamics as the stock consolidates near its recent highs.
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