Delhivery Limited (DELHIVERY) Stock - Complete Technical Analysis - Nov 29, 2024

Delhivery Limited Stock Analysis: Support, Resistance, and Key Indicators (2024)

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 at 335.95, showing a decline of approximately 31% from its 52-week high of 488.0. The stock is positioned 3% above its 52-week low of 325.5, marking a significant price range for potential price movements. Looking at the recent 5-day trading history, the stock has shown notable volatility, with fluctuations between 340 and 335, signaling price swings that traders may want to watch closely.

The technical indicators suggest mixed signals. The ADX reading of 25.45 indicates that there is moderate trend strength, while the RSI at 36.67 points to an oversold condition, which could hint at an opportunity for a reversal or rally if the stock finds support. The Stochastic RSI at 88.11 suggests that the stock may be in an overbought state and could experience a pullback.

In terms of moving averages, the stock is trading below the 10-day EMA of 341.92 and the 200-day EMA of 400.29, indicating bearish sentiment. The most recent price action highlights the stocks inability to sustain above key resistance points such as the 50-day SMA of 380.82, indicating continued downward pressure.

From a support and resistance standpoint, immediate support is observed at 326.75, with further downside risk toward 297.4. Resistance is located near 348.35, a level that traders should monitor for potential reversals. If the stock breaks below its support, further downside may be expected, while a move above resistance could trigger a short-term rally.

Overall, Delhiverys stock faces short-term downward pressure, but signs of oversold conditions may signal a buying opportunity near support. Investors should watch for price stability or reversal near the 326-330 range for any actionable trades.