Adani Power Ltd Sees Heavy Volume Amid Price Decline and Mixed Technical Signals

Trading Activity and Price Movement

On 13 Feb 2026, Adani Power witnessed a total traded volume of 7,102,131 shares, translating to a traded value of approximately ₹102.7 crores. The stock opened at ₹149.20 and touched an intraday high of ₹149.30 before sliding to a low of ₹142.86. The last traded price (LTP) stood at ₹143.65 as of 09:44:46 IST, marking a significant intraday decline of 4.31% from the previous close of ₹149.79.

This price movement underperformed the broader power sector, which declined by 1.78%, and the Sensex, which fell by 0.98% on the same day. Over the past two trading sessions, Adani Power has recorded a consecutive fall, losing 5.14% cumulatively, signalling a short-term bearish trend.

Technical and Volume Analysis

Despite the recent price weakness, the stock remains above its 20-day, 50-day, and 200-day moving averages, indicating that the medium- to long-term trend is still intact. However, it trades below its 5-day and 100-day moving averages, suggesting near-term pressure. The weighted average price for the day was closer to the intraday low, implying that most volume was executed near the lower price levels, a potential sign of distribution rather than accumulation.

Investor participation appears to be waning, with delivery volume on 12 Feb 2026 falling sharply by 54.67% compared to the five-day average delivery volume. This decline in delivery volume amid high traded volume suggests increased speculative or intraday trading rather than genuine accumulation by long-term investors.

Market Capitalisation and Ratings Update

Adani Power is classified as a large-cap company with a market capitalisation of ₹2,76,966.79 crores. The company operates within the power industry and sector, which has been under pressure due to fluctuating fuel costs and regulatory challenges.

MarketsMOJO recently upgraded Adani Power’s Mojo Grade from Sell to Hold on 4 Feb 2026, reflecting a cautious stance amid mixed signals. The current Mojo Score stands at 50.0, indicating a neutral outlook. The market cap grade is 1, suggesting the stock is among the largest in its category but not necessarily a momentum leader.

Liquidity and Trading Implications

Liquidity remains adequate for Adani Power, with the stock’s average traded value over five days supporting trade sizes up to ₹4.35 crores without significant market impact. This level of liquidity is attractive for institutional investors and traders seeking to enter or exit sizeable positions.

However, the recent decline in delivery volume alongside high intraday volume suggests that short-term traders may be dominating activity, potentially increasing volatility. Investors should be cautious and monitor whether this volume surge translates into sustained accumulation or further distribution.

Sectoral and Broader Market Context

The power sector has faced headwinds due to rising coal prices and regulatory uncertainties, which have pressured margins for power producers including Adani Power. The stock’s underperformance relative to the sector and benchmark indices highlights these challenges.

Nevertheless, the company’s large-cap status and recent Mojo Grade upgrade to Hold indicate that it remains a key player with potential for recovery if sector conditions improve or if company-specific catalysts emerge.

Outlook and Investor Considerations

Investors analysing Adani Power should weigh the recent volume surge against the price decline and reduced delivery participation. The mixed technical signals suggest that while the stock is not in a confirmed downtrend, caution is warranted given the short-term weakness.

Long-term investors may find value in the stock’s position above key moving averages and its large-cap status, but should remain vigilant for sector developments and company-specific news that could influence momentum.

Traders might consider the current environment as an opportunity for tactical trades, capitalising on volatility and volume spikes, but should be mindful of the risk of further distribution if selling pressure persists.

Summary

Adani Power Ltd’s trading session on 13 Feb 2026 was marked by exceptional volume, with over 71 lakh shares changing hands. Despite this, the stock price declined by 4.31%, underperforming both its sector and the broader market. Technical indicators present a mixed picture, with the stock above medium- and long-term moving averages but below short-term averages. Delivery volumes have dropped sharply, indicating a potential shift from accumulation to distribution. The recent Mojo Grade upgrade to Hold reflects a cautious stance amid these dynamics. Investors should carefully monitor volume and price action in coming sessions to gauge the stock’s directional bias.

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