Opening Price Surge and Intraday Performance
On the day in question, Adani Power Ltd opened at a price reflecting a 7.77% gain, reaching an intraday high of Rs 145. This strong start was notably above the previous day’s closing price and outpaced the Power Generation/Distribution sector’s gain of 3.14%. The stock’s day change settled at 5.76%, outperforming the Sensex’s 2.51% rise on the same day. This gap up opening indicates a strong overnight catalyst that positively influenced market participants’ valuation of the stock.
Recent Price Trends and Sector Comparison
Adani Power has been on a positive trajectory for the last two consecutive trading days, accumulating a 7.34% return over this period. Despite this short-term strength, the stock’s one-month performance remains negative at -3.95%, slightly underperforming the Sensex’s -2.38% over the same timeframe. This contrast highlights a recent recovery phase following a period of subdued performance.
Technical Indicators and Moving Averages
The stock’s price currently trades above its 5-day, 20-day, and 200-day moving averages, signalling short- and long-term support levels. However, it remains below the 50-day and 100-day moving averages, suggesting some resistance in the medium term. Daily moving averages indicate a mildly bullish trend, while weekly and monthly technicals present a mixed picture: the MACD is mildly bearish on a weekly basis but bullish monthly, Bollinger Bands show bearish tendencies weekly but mildly bullish monthly, and the KST indicator is mildly bearish on both weekly and monthly charts. The Dow Theory assessment is mildly bullish weekly with no clear monthly trend, and the RSI and OBV indicators show no significant signals.
Volatility and Beta Considerations
Adani Power Ltd is classified as a high beta stock with an adjusted beta of 1.14 relative to the Sensex. This implies that the stock tends to experience larger price swings compared to the broader market, which is consistent with the observed gap up and intraday volatility. Investors should note that such volatility can lead to both rapid gains and corrections.
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Market Capitalisation and Mojo Ratings
Adani Power Ltd holds a Market Cap Grade of 1, reflecting its standing within the large-cap segment of the power sector. The company’s Mojo Score currently stands at 42.0, with a Mojo Grade of Sell, downgraded from Hold as of 31 Jul 2025. This downgrade reflects a reassessment of the stock’s fundamentals and momentum factors by MarketsMOJO’s proprietary grading system. The rating change indicates a cautious stance despite the recent positive price action.
Sector Dynamics and Relative Strength
The power sector, particularly the Power Generation/Distribution segment, has shown moderate gains, with a 3.14% increase on the day of the stock’s gap up. Adani Power’s outperformance by 3.15% relative to its sector peers underscores its relative strength within the industry. This suggests that the stock’s price movement is not solely driven by sector-wide factors but also by company-specific developments or market perceptions.
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Gap Fill Potential and Momentum Sustainability
The significant gap up opening at 7.77% suggests a strong overnight catalyst, possibly linked to company-specific news or broader market developments favouring the power sector. The stock’s ability to maintain gains above key short-term moving averages supports the notion of sustained momentum in the near term. However, the presence of resistance at the 50-day and 100-day moving averages may limit further immediate upside without additional positive triggers.
Given the high beta nature of the stock, volatility remains a factor to consider. While the gap up reflects positive sentiment, the possibility of a gap fill—where the price retraces to close the opening gap—cannot be discounted, especially if broader market conditions shift or profit-taking emerges. The mixed technical signals across weekly and monthly timeframes reinforce the need for cautious observation of price action in subsequent sessions.
Summary of Technical and Fundamental Context
Adani Power Ltd’s recent price action, including the gap up opening and outperformance relative to sector and market indices, highlights a phase of renewed strength. The downgrade in Mojo Grade to Sell and a modest Mojo Score of 42.0 reflect underlying caution in the stock’s fundamental and momentum profile. Technical indicators present a nuanced picture with short-term bullishness tempered by medium-term resistance and mixed momentum signals.
Overall, the stock’s gap up opening on 3 Feb 2026 is a notable event within its recent trading pattern, supported by sector gains and relative strength metrics. The interplay of technical resistance levels and high beta volatility will be key factors influencing the stock’s price trajectory in the near term.
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