Hitachi Energy India Ltd Sees Surge in Call Option Activity Amid Bullish Momentum

Robust Price Performance and Market Position

On 6 Feb 2026, Hitachi Energy India Ltd (POWERINDIA) demonstrated exceptional market strength, outperforming its sector by 12.02% and delivering a one-day return of 12.11%, while the Sensex declined by 0.41%. The stock opened with a gap-up of 8.86% and touched an intraday high of Rs 21,889, marking a 14.01% rise from the previous close. This rally extends a two-day consecutive gain period, during which the stock has appreciated by 13.03%.

Trading above all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—Hitachi Energy’s technical indicators confirm a sustained uptrend. Despite a notable decline in delivery volume by 61.78% compared to the five-day average, liquidity remains adequate, supporting trade sizes up to Rs 6.29 crore based on 2% of the five-day average traded value.

Heavy Call Option Activity Signals Bullish Positioning

The most active call options for Hitachi Energy India Ltd are concentrated on the 24 Feb 2026 expiry, with the 22,000 strike price attracting significant interest. On this date, 5,053 contracts were traded, generating a turnover of approximately Rs 2,128.96 lakhs. Open interest stands at 1,034 contracts, indicating sustained investor commitment to bullish bets at this strike level.

Given the underlying stock price of Rs 21,642, the 22,000 strike call options are positioned just out-of-the-money, suggesting traders anticipate further upward movement before expiry. The high volume and turnover in these contracts reflect a strategic accumulation of bullish exposure, potentially driven by expectations of positive sectoral developments or company-specific catalysts.

Fundamental and Market Context

Hitachi Energy India Ltd operates within the Heavy Electrical Equipment industry, a sector poised for growth amid increasing infrastructure investments and renewable energy integration. The company’s market capitalisation stands at a robust Rs 85,641 crore, categorising it as a mid-cap stock with substantial institutional interest.

MarketsMOJO assigns Hitachi Energy a Mojo Score of 70.0, upgrading its Mojo Grade from Hold to Buy as of 2 Feb 2026. This upgrade reflects improved fundamentals, positive earnings revisions, and favourable technical trends. The Market Cap Grade of 2 further underscores the company’s solid market standing relative to peers.

Technical Indicators Reinforce Positive Outlook

Technical analysis reveals that Hitachi Energy’s price momentum is strong, with the stock trading comfortably above all major moving averages. The weighted average price during the recent trading session was closer to the low price, indicating that buyers were active throughout the day, absorbing selling pressure efficiently.

While delivery volumes have decreased, this may suggest that short-term traders are dominating the market, utilising derivatives to express directional views without committing to physical shares. The liquidity profile supports sizeable trades, which is conducive to sustained option market activity.

Implications for Investors and Traders

The surge in call option volumes at the 22,000 strike price expiry on 24 Feb 2026 suggests that market participants are positioning for a continued rally in Hitachi Energy India Ltd over the coming weeks. This bullish sentiment is supported by the stock’s recent price action and technical strength.

Investors should note that while the stock’s momentum is encouraging, the decline in delivery volumes indicates a shift towards derivative-based trading strategies, which can introduce volatility. It is prudent to monitor open interest trends and expiry dynamics closely, as these can provide early signals of changing market sentiment.

Given the company’s upgraded Mojo Grade and strong sectoral tailwinds, long-term investors may find the current environment favourable for accumulation, while traders can explore call options to capitalise on near-term upside potential with defined risk.

Sector and Market Comparison

Hitachi Energy’s outperformance relative to the Heavy Electrical Equipment sector, which recorded a marginal 0.05% gain on the same day, highlights its leadership within the industry. The stock’s ability to buck the broader market trend, as evidenced by the Sensex’s 0.41% decline, further emphasises its relative strength.

This divergence may be attributed to company-specific developments, positive earnings outlook, or strategic initiatives that have resonated well with investors. The active call option interest reinforces the view that market participants expect these favourable factors to continue driving the stock higher.

Outlook and Conclusion

In summary, Hitachi Energy India Ltd is currently experiencing heightened bullish interest, as reflected in both its price performance and derivative market activity. The concentration of call option trades at the 22,000 strike price for the February expiry indicates confidence in further upside potential.

With a strong fundamental backdrop, technical momentum, and an upgraded Mojo Grade to Buy, the stock presents an attractive proposition for investors seeking exposure to the Heavy Electrical Equipment sector. However, the evolving dynamics in delivery volumes and option open interest warrant careful monitoring to navigate potential volatility around expiry dates.

Overall, the current market signals suggest that Hitachi Energy India Ltd is well-positioned to sustain its upward trajectory in the near term, making it a key stock to watch for both long-term investors and active traders.

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