Key Events This Week
2 Feb: Stock opens lower at Rs.518.85 amid broader market weakness
3 Feb: Intraday high of Rs.558.10 with 5.17% closing gain and strong gap up
4 Feb: Mixed technical signals emerge amid price momentum shift
5-6 Feb: Minor declines close the week at Rs.543.40
2 February 2026: Weak Start Amid Market Decline
Adani Total Gas Ltd began the week on a subdued note, closing at Rs.518.85, down 1.54% from the previous Friday’s close of Rs.526.95. This decline was in line with the broader market, as the Sensex fell 1.03% to 35,814.09. The stock’s volume was moderate at 42,860 shares, reflecting cautious investor sentiment amid a volatile market environment. The initial weakness set a challenging tone for the week, with the stock trading below key short-term moving averages.
3 February 2026: Strong Gap Up and Intraday Surge
On 3 February, the stock demonstrated remarkable strength, opening sharply higher at Rs.558.10, a 6.0% gap up from the previous close. This surge was driven by positive market sentiment and possibly specific overnight developments. The stock reached an intraday high of Rs.558.10, representing a 7.56% increase from the prior session’s close, before settling at Rs.542.30 with a 4.52% gain on the day.
This performance significantly outpaced the Sensex, which gained 2.63%, and the broader gas sector, with Adani Total Gas Ltd outperforming its peers by approximately 3.7%. The strong buying momentum was supported by the stock trading above its 5-day and 20-day moving averages, signalling short-term bullishness despite remaining below longer-term resistance levels.
Technical indicators presented a mixed picture: while the weekly MACD remained bearish, the monthly MACD showed mild bullishness. The stock’s high beta of 1.17 contributed to amplified price movements, consistent with the notable gap up and intraday gains.
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4 February 2026: Mixed Technical Signals Amid Momentum Shift
The following day, 4 February, saw the stock close at Rs.548.90, up 1.22%, maintaining the positive momentum from the previous session. Intraday trading ranged between Rs.537.65 and Rs.558.10, reflecting continued volatility. Despite this, the broader technical landscape remained mixed, with the stock’s daily moving averages still bearish and the weekly MACD signalling negative momentum.
The Relative Strength Index (RSI) remained neutral, offering no clear directional bias, while Bollinger Bands suggested mildly bearish conditions on the weekly chart. The Know Sure Thing (KST) oscillator and Dow Theory assessments also presented conflicting signals, with short-term bearishness contrasting with tentative longer-term bullishness.
Volume trends, as indicated by on-balance volume (OBV), showed no strong directional confirmation, suggesting consolidation. The stock’s price remained well below its 52-week high of Rs.797.40 and only slightly above its 52-week low of Rs.507.00, underscoring ongoing volatility and uncertainty.
5-6 February 2026: Minor Pullbacks Close the Week
In the final two trading sessions, Adani Total Gas Ltd experienced slight declines, closing at Rs.545.35 (-0.65%) on 5 February and Rs.543.40 (-0.36%) on 6 February. These modest pullbacks followed the strong gains earlier in the week and reflected profit-taking amid a broadly steady market. The Sensex showed minor fluctuations, closing at 36,695.11 (-0.53%) on 5 February and 36,730.20 (+0.10%) on 6 February.
The stock’s volume tapered off to 22,685 shares on 6 February, indicating reduced trading activity. Despite these declines, the stock ended the week with a net gain of 3.12%, outperforming the Sensex’s 1.51% rise over the same period.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.518.85 | -1.54% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.542.30 | +4.52% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.548.90 | +1.22% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.545.35 | -0.65% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.543.40 | -0.36% | 36,730.20 | +0.10% |
Key Takeaways
Adani Total Gas Ltd’s 3.12% weekly gain outpaced the Sensex’s 1.51% rise, driven primarily by a strong gap-up and intraday surge on 3 February. The stock’s high beta of 1.17 contributed to amplified price movements, reflecting heightened volatility and sensitivity to market catalysts.
Technical indicators remain mixed, with short-term bullish momentum evident in the stock trading above its 5-day and 20-day moving averages, but longer-term moving averages and momentum oscillators signalling caution. The weekly MACD remains bearish, while monthly indicators show mild bullishness, highlighting uncertainty in the stock’s medium-term trend.
The downgrade to a 'Sell' rating by MarketsMOJO, with a Mojo Score of 48.0, underscores the cautious outlook despite recent gains. The stock’s performance over longer horizons remains weak, with significant underperformance relative to the Sensex over one month, one year, and three years.
Volume trends and neutral RSI readings suggest consolidation, with the stock likely to face resistance near its recent highs and support around the 52-week low of Rs.507.00. Investors should monitor technical levels closely for signs of sustained momentum or potential reversals.
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