Exceptional Trading Volumes Highlight Investor Interest
On 3 Feb 2026, Reliance Power witnessed a total traded volume of 1.93 crore shares, translating to a traded value of approximately ₹53.36 crores. This volume represents a significant spike compared to its recent averages, underscoring heightened investor participation. The delivery volume on 2 Feb stood at 2.13 crore shares, marking an 8.14% increase against the five-day average delivery volume, signalling sustained accumulation interest among long-term investors.
The stock opened at ₹28.20, touched a high of ₹28.40, and traded as low as ₹27.14 during the session, eventually settling at ₹27.79 by 10:39 AM IST. This closing price reflects a 3.39% gain over the previous close of ₹26.82, outperforming the Power Generation/Distribution sector’s 3.07% gain and the Sensex’s 2.83% rise on the same day.
Technical Indicators Paint a Mixed Picture
Despite the positive price action and volume surge, Reliance Power remains below its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day marks. This persistent weakness in moving averages suggests that the stock is still in a broader downtrend, and the recent gains may represent a short-term rebound rather than a sustained recovery.
The stock’s Mojo Score currently stands at 29.0, categorised as a Strong Sell, an upgrade from its previous Sell rating on 3 Nov 2025. This downgrade in sentiment reflects ongoing concerns about the company’s fundamentals and market positioning. The Market Cap Grade is 3, indicating a small-cap status with limited liquidity compared to larger peers.
Sector and Market Context
The Power sector has shown resilience, with the Power Generation/Distribution segment gaining 3.07% on the day. Reliance Power’s outperformance by 0.54% relative to its sector peers suggests selective buying interest, possibly driven by speculative trading or short-term accumulation by institutional investors.
Liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting trade sizes up to ₹2.97 crores based on 2% of the five-day average traded value. This liquidity profile makes Reliance Power accessible for both retail and institutional participants, contributing to the high volume observed.
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Accumulation and Distribution Signals
The increase in delivery volume alongside the surge in traded shares suggests a degree of accumulation by investors, potentially signalling confidence in the stock’s near-term prospects. However, the persistent trading below all major moving averages tempers this optimism, indicating that distribution by some market participants may still be ongoing.
Investors should note that the stock has gained after two consecutive days of decline, which could represent a technical bounce rather than a definitive trend reversal. The 1-day return of 3.17% slightly outpaces the sector’s 3.16% and the Sensex’s 2.83%, but the overall trend remains bearish until moving averages are decisively breached.
Valuation and Market Capitalisation
Reliance Power is classified as a small-cap company with a market capitalisation of approximately ₹11,278 crores. This size places it in a segment where volatility and liquidity constraints can lead to sharp price movements on volume surges. Investors should weigh the risks associated with small-cap stocks, including lower analyst coverage and higher susceptibility to market sentiment swings.
The company’s Mojo Grade downgrade to Strong Sell reflects concerns about its financial health and growth outlook. Investors are advised to monitor upcoming quarterly results and sector developments closely before committing fresh capital.
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Investor Takeaway and Outlook
Reliance Power’s recent surge in volume and price gains reflect a renewed interest from market participants, possibly driven by short-term technical factors or speculative positioning. However, the stock’s inability to break above key moving averages and its Strong Sell Mojo Grade caution investors against assuming a sustained recovery at this stage.
Given the stock’s small-cap status and the sector’s overall positive momentum, selective accumulation could be warranted for risk-tolerant investors seeking exposure to the power generation space. Nonetheless, a cautious approach is advisable, with close attention to volume patterns, price action, and fundamental updates.
Market participants should also consider liquidity constraints and the potential for volatility spikes, especially in the context of broader market movements and sector-specific developments.
Summary of Key Metrics for Reliance Power Ltd (RPOWER) as of 3 Feb 2026
- Total Traded Volume: 1.93 crore shares
- Total Traded Value: ₹53.36 crores
- Previous Close: ₹26.82
- Open Price: ₹28.20
- Day High: ₹28.40
- Day Low: ₹27.14
- Last Traded Price (LTP): ₹27.79
- 1-Day Return: 3.17%
- Sector 1-Day Return: 3.16%
- Sensex 1-Day Return: 2.83%
- Mojo Score: 29.0 (Strong Sell)
- Market Cap: ₹11,278 crores (Small Cap)
Investors should continue to monitor Reliance Power’s price action and volume trends closely, balancing the potential for short-term gains against the prevailing technical and fundamental challenges.
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