Volume Surge and Trading Activity
On 21 Jan 2026, Reliance Power witnessed a total traded volume of 12,640,228 shares, translating to a traded value of approximately ₹38.01 crores. This volume represents a significant spike compared to its recent averages, underscoring a renewed investor focus on the power sector small-cap. The stock opened at ₹30.00, touched a high of ₹30.38 and a low of ₹29.62, before settling at ₹30.14 as of 09:44:57 IST. Notably, the stock hit a new 52-week low intraday at ₹29.62, reflecting ongoing volatility.
Price Performance and Sector Comparison
Reliance Power outperformed its sector benchmark by 0.97% on the day, registering a 1-day return of 0.60% compared to the Power sector’s marginal decline of 0.04% and the broader Sensex’s fall of 0.16%. This relative outperformance is significant given the stock’s recent four-day losing streak, which it reversed on this trading session. However, the stock remains under pressure technically, trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day marks, indicating a persistent bearish trend.
Investor Participation and Liquidity
Investor participation has notably increased, with delivery volume on 20 Jan rising by 30.76% to 2.11 crore shares compared to the 5-day average delivery volume. This suggests accumulation by long-term investors despite the recent price weakness. Liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting trade sizes up to ₹2.81 crores based on 2% of the 5-day average traded value, making it a viable option for institutional investors seeking exposure to the power sector.
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Mojo Score and Rating Update
Reliance Power’s Mojo Score currently stands at 34.0, reflecting a Sell rating, which is an improvement from its previous Strong Sell grade assigned on 3 Nov 2025. This upgrade suggests a slight easing of negative sentiment, although the stock remains firmly in the sell category. The company’s market capitalisation is ₹12,452.81 crores, classifying it as a small-cap within the power sector. The Market Cap Grade is 3, indicating moderate size and liquidity relative to peers.
Technical and Trend Analysis
The stock’s recent price action shows a tentative trend reversal after four consecutive days of decline, with the latest session’s gain signalling potential short-term recovery. However, the fact that Reliance Power is trading below all major moving averages highlights the prevailing downtrend and suggests that any rally may face resistance. The new 52-week low hit intraday is a cautionary signal, indicating that downside risks remain significant.
Accumulation and Distribution Signals
Despite the bearish technical backdrop, the increased delivery volume points to accumulation by investors who may be positioning for a turnaround. The 30.76% rise in delivery volume compared to the 5-day average suggests that buyers are stepping in at lower levels, potentially absorbing selling pressure. This dynamic could set the stage for a more sustained recovery if confirmed by subsequent price strength and volume support.
Sector Outlook and Market Context
The power sector has been under pressure recently due to regulatory uncertainties and fluctuating demand patterns. Reliance Power’s relative outperformance on the day is noteworthy, but investors should remain cautious given the sector’s overall muted performance. The stock’s liquidity and market cap grade make it accessible for active traders and institutional players, but the fundamental and technical challenges warrant a careful approach.
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Investor Takeaway
Reliance Power’s exceptional volume surge and modest price recovery after a string of losses highlight a stock at a potential inflection point. While the technical indicators remain cautious, the increased delivery volumes and relative sector outperformance suggest that some investors are accumulating shares in anticipation of a turnaround. However, the stock’s Sell rating and trading below all key moving averages counsel prudence.
Investors should closely monitor upcoming sessions for confirmation of sustained buying interest and a break above critical moving averages before considering fresh positions. Given the company’s small-cap status and sector headwinds, a balanced approach combining technical analysis with fundamental assessment is advisable.
Summary
Reliance Power Ltd’s trading activity on 21 Jan 2026 was characterised by a significant volume spike of over 1.26 crore shares and a slight price gain of 0.74%. Despite hitting a new 52-week low intraday, the stock outperformed its sector and the Sensex, signalling tentative recovery. The Mojo Score upgrade to Sell from Strong Sell reflects a marginal improvement in outlook, though technical indicators remain bearish. Increased delivery volumes point to accumulation, offering a glimmer of hope for investors seeking value in the power sector small-cap space.
Overall, Reliance Power remains a stock to watch closely, with volume-driven price action providing key clues to its near-term trajectory.
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