Delhivery Ltd Technical Momentum Shifts Amid Mixed Indicator Signals

Current Price Action and Market Context

As of 14 Jan 2026, Delhivery Ltd’s stock closed at ₹397.10, marking a modest increase of 0.47% from the previous close of ₹395.25. The intraday range saw a low of ₹389.35 and a high of ₹399.10, indicating some volatility but a general upward bias. The stock remains well below its 52-week high of ₹489.95, yet comfortably above the 52-week low of ₹236.80, reflecting a recovery phase after a period of weakness.

Comparatively, Delhivery’s year-to-date return stands at -1.62%, slightly outperforming the Sensex’s -1.87% over the same period. Over the past year, the stock has delivered a robust 23.8% return, significantly outpacing the Sensex’s 9.56%, underscoring the company’s resilience amid broader market fluctuations. However, the three-year return of 28.03% trails the Sensex’s 38.78%, suggesting some underperformance in the medium term.

Technical Trend Shift: From Sideways to Mildly Bullish

The most notable development is the transition in Delhivery’s technical trend from sideways to mildly bullish. This shift is primarily driven by daily moving averages, which have turned mildly bullish, signalling a potential uptrend initiation. The stock’s price currently trades above key short-term moving averages, indicating growing buying interest and momentum.

However, this positive momentum is tempered by mixed signals from other technical indicators, which investors should carefully consider before making decisions.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator presents a mixed outlook. On a weekly basis, the MACD remains bearish, signalling that the medium-term momentum is still under pressure. Conversely, the monthly MACD is mildly bearish, suggesting that while the downtrend is not severe, the stock has yet to establish a strong bullish momentum on a longer timeframe.

This divergence between weekly and monthly MACD readings indicates that short-term traders may find opportunities in the current mild bullish trend, but longer-term investors should remain cautious until a clearer MACD crossover confirms sustained momentum.

Relative Strength Index (RSI) Signals

The RSI readings provide further nuance. The weekly RSI is bullish, indicating that the stock is gaining strength and may be entering an oversold recovery phase. This supports the recent mild bullish trend observed in moving averages. However, the monthly RSI shows no clear signal, reflecting a neutral stance over the longer term.

Such RSI behaviour suggests that while short-term momentum is improving, the stock has not yet reached a definitive overbought or oversold condition on a monthly scale, leaving room for further price movement in either direction.

Bollinger Bands and Volatility Assessment

Bollinger Bands add another layer of complexity. Weekly Bollinger Bands remain bearish, indicating that the stock price is closer to the lower band and volatility is elevated, which often signals caution. In contrast, the monthly Bollinger Bands are mildly bullish, suggesting that on a broader scale, the stock may be stabilising and preparing for a potential upward move.

This disparity between weekly and monthly Bollinger Band signals highlights the importance of timeframe in technical analysis and suggests that investors should align their strategies accordingly.

Other Technical Indicators: KST, Dow Theory, and OBV

The Know Sure Thing (KST) indicator is bearish on a weekly basis but bullish monthly, mirroring the MACD’s mixed signals. This further emphasises the short-term weakness against a backdrop of longer-term potential strength.

Dow Theory assessments are mildly bearish on both weekly and monthly charts, indicating that the broader trend remains under pressure despite recent short-term gains. This suggests that the stock has not yet convincingly broken out of its previous downtrend.

On-Balance Volume (OBV) readings are mildly bullish weekly but mildly bearish monthly, signalling that while buying volume has increased recently, the overall volume trend remains subdued. This volume pattern supports the notion of tentative short-term buying interest without strong conviction from institutional investors.

Market Capitalisation and Mojo Ratings

Delhivery’s market cap grade stands at 3, reflecting a mid-tier valuation within its sector. The company’s Mojo Score has recently deteriorated to 28.0, resulting in a downgrade from a ‘Sell’ to a ‘Strong Sell’ rating as of 12 Jan 2026. This downgrade reflects concerns over the stock’s fundamental and technical outlook, despite some short-term technical improvements.

Investors should weigh these ratings carefully, as the strong sell grade indicates significant caution is warranted, especially given the mixed technical signals and the stock’s recent underperformance relative to the broader market over shorter periods.

Investment Implications and Outlook

Delhivery Ltd’s technical landscape is characterised by a cautious optimism. The shift to a mildly bullish daily moving average trend and supportive weekly RSI and OBV readings suggest that short-term momentum is improving. However, the persistent bearishness in weekly MACD, Bollinger Bands, KST, and Dow Theory signals, combined with a strong sell Mojo Grade, indicate that the stock remains vulnerable to downside risks.

Investors should consider the stock’s recent price action in the context of its broader market performance. While the one-year return of 23.8% is commendable, the stock’s underperformance relative to the Sensex over three years and the downgrade in technical ratings highlight the need for prudence.

For traders, the mildly bullish daily moving averages and weekly RSI may offer short-term trading opportunities, but these should be approached with tight risk management given the conflicting signals from other indicators. Long-term investors may prefer to wait for a clearer confirmation of trend reversal, such as a sustained MACD crossover or a positive shift in Dow Theory signals.

Overall, Delhivery Ltd’s technical parameters suggest a stock in transition, with momentum shifting but not yet decisively confirming a sustained uptrend.

Summary of Key Technical Indicators

• MACD: Weekly Bearish, Monthly Mildly Bearish


• RSI: Weekly Bullish, Monthly Neutral


• Bollinger Bands: Weekly Bearish, Monthly Mildly Bullish


• Moving Averages: Daily Mildly Bullish


• KST: Weekly Bearish, Monthly Bullish


• Dow Theory: Weekly and Monthly Mildly Bearish


• OBV: Weekly Mildly Bullish, Monthly Mildly Bearish

Price and Returns Overview

Current Price: ₹397.10 | 52-Week High: ₹489.95 | 52-Week Low: ₹236.80

Returns vs Sensex:

• 1 Week: -4.08% vs Sensex -1.69%


• 1 Month: -3.56% vs Sensex -1.92%


• Year-to-Date: -1.62% vs Sensex -1.87%


• 1 Year: +23.8% vs Sensex +9.56%


• 3 Years: +28.03% vs Sensex +38.78%

Conclusion

Delhivery Ltd’s recent technical parameter changes reflect a stock at a crossroads. While short-term momentum indicators show signs of improvement, longer-term signals and fundamental ratings caution against premature optimism. Investors should monitor upcoming technical developments closely, particularly MACD and Dow Theory confirmations, before committing to significant positions. The current mildly bullish trend offers tactical opportunities but requires disciplined risk management amid mixed signals.

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