Delhivery Limited (DELHIVERY) Stock - Complete Technical Analysis - Sep 05, 2024

Delhivery Limited Stock Analysis: Support

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Delhivery Limited (DELHIVERY) is currently trading around 418. Recent technical indicators suggest a mixed sentiment in the stock. The Relative Strength Index (RSI) is at a neutral level, indicating no strong overbought or oversold conditions. The Average Directional Index (ADX) is relatively low, suggesting that the stock may be in a period of consolidation rather than a strong trend.

The MACD is showing positive momentum, suggesting potential for further upward movement, but it's important to note that this could change quickly given the volatility. The Stochastic %K is also in a neutral range, reinforcing the idea that the stock is not in extreme conditions.

Support levels to watch include the Classic Pivot S1 at 395.63 and the Camarilla S1 at 415.01. If the stock declines further, these levels could offer potential buying opportunities. Resistance levels to be mindful of include the Classic Pivot R1 at 442.38 and the Fibonacci R1 at 436.58. The stock may face challenges breaching these levels, which could act as price ceilings in the near term.

The moving averages are also showing mixed signals. The stock is trading slightly below the 10-period Exponential Moving Average (EMA), suggesting a minor bearish sentiment. However, it's trading above the 20-period EMA, indicating some bullishness. The support from the longer-term moving averages, such as the 50-period and 200-period EMAs, suggests that the stock might still be in an overall uptrend.

Overall, Delhivery Limited appears to be in a consolidation phase with key support and resistance levels providing crucial guidance. Traders should monitor these levels closely for potential trading opportunities and be aware of the stock's current neutral indicators which suggest caution in making aggressive moves.