Delhivery Limited (DELHIVERY) Stock - Complete Technical Analysis - Oct 24, 2024

Delhivery Stock Technical Analysis: Key Levels & Trading Signals

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. For Delhivery Limited, the stock currently trades at 368, notably 24.61% below its 52-week peak and just above its low of 354. The immediate support level sits around 365, which could be crucial for price stability. Should the stock breach this level, we may see a drop towards 354. On the upside, the resistance is pegged near 390, as indicated by the short-term exponential moving averages.

Examining the indicators, the ADX is at 19.7, showing weak trend momentum, while the RSI at 24.24 signals oversold conditions, suggesting potential for a price reversal. The negative MACD reading at -11.18 confirms bearish momentum, yet the Stochastic %K reading at 8.63 hints at possible upward movement in the near term.

Recent trading data reveals significant price fluctuations, with the stock showing a downtrend from around 400 to current levels, emphasizing volatility in trading. The last few sessions depict a pattern of declining prices, which traders should monitor closely.

In conclusion, the critical support at 365 and resistance at 390 will be pivotal for future movements. Traders should be prepared for potential reversals as oversold signals suggest the possibility of an upward trend if the stock can maintain support.