Delhivery Ltd Technical Momentum Shifts Amid Mixed Indicator Signals

Technical Trend Overview and Price Movement

Delhivery’s current price stands at ₹439.65, slightly up from the previous close of ₹437.40. The stock’s intraday range today has been relatively narrow, with a low of ₹434.60 and a high of ₹441.70. Over the past 52 weeks, the share price has fluctuated between ₹236.80 and ₹489.95, indicating significant volatility but also a strong recovery from lows.

The technical trend has shifted from mildly bullish to sideways, signalling a pause in upward momentum. This transition suggests that while the stock has not entered a bearish phase, it is currently consolidating, with neither buyers nor sellers dominating the market.

MACD and Momentum Indicators

The Moving Average Convergence Divergence (MACD) indicator offers a nuanced view. On a weekly basis, the MACD remains bullish, indicating that the medium-term momentum is still positive. However, the monthly MACD has turned mildly bearish, reflecting some weakening in longer-term momentum. This divergence between weekly and monthly MACD readings suggests that while short-term traders may find opportunities, longer-term investors should exercise caution.

The Know Sure Thing (KST) indicator aligns with this mixed outlook. Weekly KST is mildly bullish, supporting the short-term momentum narrative, whereas the monthly KST is bullish, indicating some underlying strength over a longer horizon.

RSI and Overbought/Oversold Conditions

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral territory. This lack of extreme readings suggests that the stock is neither overbought nor oversold, consistent with the sideways trend and consolidation phase.

Moving Averages and Bollinger Bands

Daily moving averages have turned mildly bearish, signalling some short-term weakness or hesitation among investors. This contrasts with the Bollinger Bands, which remain bullish on both weekly and monthly timeframes. The Bollinger Bands’ bullish stance indicates that price volatility is contained within an upward channel, supporting the possibility of a future breakout if momentum picks up.

Volume and Dow Theory Signals

On-Balance Volume (OBV) presents a split picture: weekly OBV is mildly bearish, suggesting some selling pressure in the short term, while monthly OBV is bullish, indicating accumulation over a longer period. Dow Theory assessments are mildly bearish on both weekly and monthly scales, reflecting caution among market participants and a lack of confirmation for a sustained uptrend.

Comparative Performance Against Sensex

Delhivery’s recent returns have outpaced the broader Sensex benchmark significantly. Over the past week, the stock gained 1.76% while the Sensex declined by 1.74%. Over one month, Delhivery surged 13.49% compared to Sensex’s modest 0.91% rise. Year-to-date, the stock is up 8.92% while the Sensex has fallen 3.46%. Over the last year, Delhivery’s return of 67.81% dwarfs the Sensex’s 10.29% gain. However, over three years, the stock’s 24.81% return trails the Sensex’s 38.36%, indicating some underperformance in the medium term. Data for five and ten years is not available for Delhivery, but the Sensex’s long-term gains of 61.20% and 258.10% respectively provide a benchmark for comparison.

Mojo Score and Market Capitalisation Insights

Delhivery currently holds a Mojo Score of 37.0, categorised as a Sell rating, an improvement from its previous Strong Sell grade as of 27 Jan 2026. This upgrade reflects a slight improvement in technical and fundamental outlooks but still signals caution for investors. The company’s market cap grade is 3, indicating a relatively modest market capitalisation within its sector, which may contribute to higher volatility and sensitivity to market swings.

Sector and Industry Context

Operating within the transport services sector, Delhivery faces sector-specific challenges such as fluctuating fuel costs, regulatory changes, and evolving logistics demands. The sector itself has shown mixed technical signals, and Delhivery’s sideways momentum may reflect broader industry consolidation or investor uncertainty. The company’s ability to maintain price strength amid these conditions is noteworthy but requires monitoring for sustained trend confirmation.

Technical Outlook and Investor Considerations

The current technical landscape suggests that Delhivery is in a consolidation phase, with short-term bullish signals tempered by longer-term caution. The mildly bearish daily moving averages and weekly Dow Theory signals imply that investors should be vigilant for potential pullbacks or sideways trading. However, the bullish monthly Bollinger Bands and KST indicators provide a foundation for optimism if positive catalysts emerge.

Investors should watch for a breakout above recent highs near ₹441.70 to confirm a resumption of upward momentum. Conversely, a sustained drop below the recent lows around ₹434.60 could signal a deeper correction. The neutral RSI readings suggest that the stock is not currently overextended, allowing room for either scenario.

Summary and Final Assessment

Delhivery Ltd’s technical parameters reveal a stock at a crossroads. The shift from mildly bullish to sideways momentum, combined with mixed signals from MACD, RSI, moving averages, and volume indicators, suggests a period of consolidation. While the company has outperformed the Sensex significantly over the past year, medium-term returns lag the benchmark, and the current Mojo Grade of Sell advises caution.

For investors, the key will be monitoring technical breakouts or breakdowns alongside fundamental developments. The stock’s current technical profile does not favour aggressive buying but does not rule out selective accumulation for those with a higher risk tolerance and a longer investment horizon. Given the transport services sector’s evolving dynamics, Delhivery’s ability to sustain price strength amid mixed signals will be critical in defining its next directional move.

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