Robust Price Performance and Market Positioning
Vedanta Ltd. (NSE: VEDL) has been on a steady upward trajectory, outperforming its sector peers and broader benchmarks. The stock has gained 12.02% over the past six consecutive trading sessions, reflecting sustained investor confidence. On 29 Jan 2026, Vedanta closed with a day change of +2.38%, touching an intraday high of ₹754, marginally above its underlying value of ₹755. This performance outpaced the Non-Ferrous Metals sector gain of 2.48% and contrasted with the Sensex’s decline of 0.48% on the same day.
Technically, Vedanta is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — underscoring a strong bullish trend. The stock’s market capitalisation stands at a substantial ₹2,94,960.57 crores, categorising it firmly as a large-cap entity with a Market Cap Grade of 1, indicating high market liquidity and investor interest.
Call Option Activity Highlights Bullish Positioning
The most active call options for Vedanta are concentrated around the ₹750 strike price, with expiry on 24 Feb 2026. On this expiry date, a total of 6,209 contracts were traded, generating a turnover of approximately ₹2,396.3 lakhs. Open interest at this strike stands at 2,740 contracts, signalling strong open positions and sustained interest from market participants.
This heightened activity in call options at the ₹750 strike price, which is near the current underlying price, suggests that traders are positioning for further upside in the near term. The concentration of contracts and turnover at this strike price is a clear indicator of bullish sentiment, as investors anticipate the stock to maintain or exceed this level by expiry.
Sectoral Context and Investor Participation
Within the Non-Ferrous Metals sector, Vedanta’s outperformance is notable. While the sector gained 2.48% on the day, Vedanta’s 2.38% rise and consistent gains over the past week highlight its leadership. However, there has been a slight decline in investor participation, with delivery volumes falling by 13.87% to 78.37 lakh shares on 28 Jan 2026 compared to the five-day average. This dip in delivery volume may indicate some profit-booking or cautious positioning by long-term holders despite the bullish derivatives activity.
Vedanta’s dividend yield remains attractive at 3.12%, adding to its appeal for income-focused investors amid the ongoing price appreciation. Liquidity metrics also support active trading, with the stock’s average traded value allowing for sizeable trade sizes up to ₹31.15 crores without significant market impact.
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Mojo Score and Rating Dynamics
Vedanta currently holds a Mojo Score of 75.0, reflecting a strong buy recommendation from MarketsMOJO’s proprietary analytics. The Mojo Grade was recently adjusted from a Strong Buy to a Buy on 13 Jan 2026, signalling a slight moderation in enthusiasm but maintaining a positive outlook. This recalibration likely reflects a more cautious stance amid the stock’s rapid gains, balancing valuation concerns with robust fundamentals.
The company’s financial health, sector positioning, and technical indicators continue to support a bullish stance, with the large-cap status and high liquidity further reinforcing its suitability for institutional and retail investors alike.
Expiry Patterns and Strategic Implications
The expiry date of 24 Feb 2026 is attracting significant attention, with the ₹750 strike price serving as a focal point for call option traders. The open interest and turnover figures suggest that investors are not only speculating on short-term price appreciation but also hedging existing positions or building leveraged exposure to Vedanta’s anticipated upside.
Given the stock’s recent momentum and technical strength, the concentration of call options at this strike price may act as a magnet, potentially influencing price action as expiry approaches. Traders should monitor open interest changes and volume spikes closely, as these can provide early signals of shifts in market sentiment or emerging resistance levels.
Outlook and Investor Considerations
Vedanta’s current trajectory, supported by strong call option activity and solid price performance, suggests continued bullish momentum in the near term. However, investors should remain mindful of sector volatility, commodity price fluctuations, and broader macroeconomic factors that could impact the non-ferrous metals industry.
While the recent downgrade from Strong Buy to Buy indicates some caution, the overall fundamentals and technical indicators remain favourable. The attractive dividend yield and large-cap liquidity profile further enhance Vedanta’s appeal as a core portfolio holding for investors seeking exposure to metals with growth potential.
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Summary
Vedanta Ltd. is currently exhibiting strong bullish signals, underpinned by record-high prices, sustained gains, and heavy call option activity concentrated at the ₹750 strike price for the February 2026 expiry. The stock’s technical strength, combined with a solid dividend yield and large-cap liquidity, makes it an attractive proposition for investors seeking exposure to the non-ferrous metals sector.
While delivery volumes have softened slightly, the overall market positioning remains positive, supported by a Mojo Score of 75 and a Buy rating. Investors should continue to monitor derivatives activity and sector trends closely to capitalise on potential upside while managing risk prudently.
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